Hsbc Holdings PLC Has $9.89 Million Stake in Coupang, Inc. (NYSE:CPNG)

Hsbc Holdings PLC boosted its holdings in shares of Coupang, Inc. (NYSE:CPNG - Free Report) by 37.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 449,579 shares of the company's stock after buying an additional 123,572 shares during the quarter. Hsbc Holdings PLC's holdings in Coupang were worth $9,890,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of CPNG. Advisory Resource Group increased its position in Coupang by 1.9% during the third quarter. Advisory Resource Group now owns 44,096 shares of the company's stock worth $1,083,000 after buying an additional 823 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in Coupang during the third quarter worth $1,094,000. Tidal Investments LLC acquired a new position in Coupang during the third quarter worth $5,646,000. Lord Abbett & CO. LLC increased its position in Coupang by 269.3% during the third quarter. Lord Abbett & CO. LLC now owns 1,292,886 shares of the company's stock worth $31,740,000 after buying an additional 942,839 shares during the last quarter. Finally, Harbour Capital Advisors LLC increased its position in Coupang by 21.0% during the fourth quarter. Harbour Capital Advisors LLC now owns 28,650 shares of the company's stock worth $642,000 after buying an additional 4,975 shares during the last quarter. 83.72% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CPNG has been the topic of several analyst reports. Citigroup lowered their target price on shares of Coupang from $31.00 to $28.00 and set a "buy" rating on the stock in a research report on Wednesday, January 8th. Barclays set a $35.00 price target on shares of Coupang and gave the company an "overweight" rating in a report on Thursday, February 27th. Deutsche Bank Aktiengesellschaft upgraded shares of Coupang from a "hold" rating to a "buy" rating and set a $28.50 price target for the company in a report on Wednesday, February 26th. Finally, Mizuho upgraded shares of Coupang to a "hold" rating in a report on Friday, April 18th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $29.17.

Coupang Stock Performance

Shares of NYSE CPNG traded up $0.12 during mid-day trading on Thursday, hitting $23.49. The company had a trading volume of 6,483,660 shares, compared to its average volume of 7,751,297. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.13 and a quick ratio of 0.86. The business's 50-day simple moving average is $22.51 and its 200-day simple moving average is $23.45. Coupang, Inc. has a 12 month low of $18.16 and a 12 month high of $26.91. The firm has a market cap of $42.40 billion, a P/E ratio of 41.20, a PEG ratio of 52.20 and a beta of 1.09.

Insider Activity at Coupang

In other Coupang news, VP Pranam Kolari sold 8,459 shares of the firm's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $22.98, for a total transaction of $194,387.82. Following the completion of the transaction, the vice president now owns 136,806 shares in the company, valued at $3,143,801.88. This trade represents a 5.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Benjamin Sun sold 250,000 shares of the firm's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $23.43, for a total transaction of $5,857,500.00. Following the transaction, the director now owns 1,719,421 shares of the company's stock, valued at approximately $40,286,034.03. This represents a 12.69 % decrease in their position. The disclosure for this sale can be found here. 13.60% of the stock is owned by corporate insiders.

About Coupang

Coupang, Inc, together with its subsidiaries owns and operates retail business through its mobile applications and Internet websites primarily in South Korea. The company operates through Product Commerce and Developing Offerings segments. It sells various products and services in the categories of home goods and décor products, apparel, beauty products, fresh food and groceries, sporting goods, electronics, and everyday consumables, as well as travel, and restaurant order and delivery services.