PDT Partners LLC Increases Stock Holdings in Coupang, Inc. (NYSE:CPNG)

PDT Partners LLC grew its holdings in shares of Coupang, Inc. (NYSE:CPNG - Free Report) by 107.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 137,949 shares of the company's stock after purchasing an additional 71,449 shares during the quarter. PDT Partners LLC's holdings in Coupang were worth $3,032,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Norges Bank acquired a new position in Coupang during the fourth quarter worth about $404,896,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of Coupang by 29.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 75,686,648 shares of the company's stock worth $1,663,594,000 after purchasing an additional 17,123,637 shares during the last quarter. Coronation Fund Managers Ltd. grew its position in shares of Coupang by 53.3% in the fourth quarter. Coronation Fund Managers Ltd. now owns 7,383,611 shares of the company's stock valued at $162,292,000 after purchasing an additional 2,566,581 shares in the last quarter. FMR LLC increased its holdings in shares of Coupang by 9.1% in the fourth quarter. FMR LLC now owns 29,619,581 shares of the company's stock valued at $651,038,000 after purchasing an additional 2,465,973 shares during the last quarter. Finally, Ninety One UK Ltd purchased a new position in Coupang during the fourth quarter worth approximately $46,388,000. 83.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft upgraded Coupang from a "hold" rating to a "buy" rating and set a $28.50 target price for the company in a report on Wednesday, February 26th. Citigroup cut their price objective on shares of Coupang from $31.00 to $28.00 and set a "buy" rating for the company in a research report on Wednesday, January 8th. Barclays set a $35.00 target price on shares of Coupang and gave the company an "overweight" rating in a report on Thursday, February 27th. Finally, Mizuho upgraded shares of Coupang to a "hold" rating in a report on Friday, April 18th. One 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.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $29.17.

Insider Transactions at Coupang

In related news, Director Benjamin Sun sold 250,000 shares of the business's stock in a transaction on 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 completion of the transaction, the director now directly owns 1,719,421 shares of the company's stock, valued at $40,286,034.03. The trade was a 12.69 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Pranam Kolari sold 9,347 shares of the stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $23.85, for a total value of $222,925.95. Following the completion of the sale, the vice president now directly owns 177,106 shares in the company, valued at $4,223,978.10. This represents a 5.01 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 267,806 shares of company stock worth $6,274,814 over the last ninety days. Company insiders own 13.60% of the company's stock.

Coupang Trading Up 2.7 %

Coupang stock traded up $0.64 during trading on Friday, hitting $24.11. The company had a trading volume of 5,618,806 shares, compared to its average volume of 7,724,070. The stock has a market cap of $43.53 billion, a price-to-earnings ratio of 42.30, a price-to-earnings-growth ratio of 52.20 and a beta of 1.09. The company has a current ratio of 1.13, a quick ratio of 0.86 and a debt-to-equity ratio of 0.28. Coupang, Inc. has a 1-year low of $18.16 and a 1-year high of $26.91. The company's 50 day simple moving average is $22.48 and its 200-day simple moving average is $23.43.

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.