Tower Research Capital LLC TRC Acquires 11,253 Shares of Coupang, Inc. (NYSE:CPNG)

Tower Research Capital LLC TRC lifted its holdings in shares of Coupang, Inc. (NYSE:CPNG - Free Report) by 298.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,018 shares of the company's stock after buying an additional 11,253 shares during the period. Tower Research Capital LLC TRC's holdings in Coupang were worth $330,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of CPNG. FMR LLC increased its position in shares of Coupang by 9.1% during the 4th 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 period. Dodge & Cox boosted its stake in Coupang by 0.6% in the 4th quarter. Dodge & Cox now owns 20,229,320 shares of the company's stock worth $444,640,000 after purchasing an additional 123,900 shares during the period. Norges Bank purchased a new position in shares of Coupang during the fourth quarter valued at $404,896,000. Coronation Fund Managers Ltd. lifted 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 worth $162,292,000 after purchasing an additional 2,566,581 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Coupang by 4.1% during the 4th quarter. Geode Capital Management LLC now owns 6,126,268 shares of the company's stock valued at $134,655,000 after acquiring an additional 241,025 shares in the last quarter. Institutional investors own 83.72% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on CPNG. Mizuho raised shares of Coupang to a "hold" rating in a research report on Friday, April 18th. Citigroup dropped their target price on shares of Coupang from $31.00 to $28.00 and set a "buy" rating on the stock in a report on Wednesday, January 8th. Barclays set a $35.00 price objective on Coupang and gave the stock an "overweight" rating in a research report on Thursday, February 27th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Coupang from a "hold" rating to a "buy" rating and set a $28.50 target price on the stock in a research report on Wednesday, February 26th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $29.06.

Coupang Price Performance

Coupang stock traded down $0.01 during trading hours on Tuesday, hitting $23.99. 3,816,804 shares of the stock were exchanged, compared to its average volume of 7,856,189. Coupang, Inc. has a 12 month low of $18.16 and a 12 month high of $26.91. The business's 50-day moving average is $22.46 and its two-hundred day moving average is $23.39. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.86 and a current ratio of 1.13. The stock has a market capitalization of $43.30 billion, a P/E ratio of 42.08, a P/E/G ratio of 52.20 and a beta of 1.08.

Insider Activity

In other news, VP Pranam Kolari sold 9,347 shares of the business's stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $23.85, for a total transaction of $222,925.95. Following the completion of the sale, the vice president now owns 177,106 shares in the company, valued at $4,223,978.10. The trade was a 5.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Benjamin Sun sold 250,000 shares of the firm's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $23.43, for a total value of $5,857,500.00. Following the completion of the transaction, the director now owns 1,719,421 shares in the company, 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 currently owned by corporate insiders.

Coupang Company Profile

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.