Prudential Financial Inc. Has $568,000 Stock Holdings in Coupang, Inc. (NYSE:CPNG)

Prudential Financial Inc. trimmed its position in Coupang, Inc. (NYSE:CPNG) by 9.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 25,850 shares of the company’s stock after selling 2,721 shares during the quarter. Prudential Financial Inc.’s holdings in Coupang were worth $568,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Coronation Fund Managers Ltd. boosted its holdings in shares of Coupang by 53.3% in the 4th 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. Ninety One UK Ltd acquired a new stake in Coupang in the fourth quarter valued at about $46,388,000. Lord Abbett & CO. LLC boosted its stake in Coupang by 269.3% in the third quarter. Lord Abbett & CO. LLC now owns 1,292,886 shares of the company’s stock valued at $31,740,000 after buying an additional 942,839 shares in the last quarter. Ninety One North America Inc. bought a new position in Coupang in the fourth quarter valued at about $18,640,000. Finally, Matthews International Capital Management LLC raised its stake in Coupang by 1,278.4% during the fourth quarter. Matthews International Capital Management LLC now owns 692,388 shares of the company’s stock worth $15,219,000 after acquiring an additional 642,158 shares in the last quarter. 83.72% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CPNG. Citigroup decreased their price target 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. Mizuho boosted their target price on shares of Coupang from $25.00 to $27.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 26th. Deutsche Bank Aktiengesellschaft upgraded Coupang from a “hold” rating to a “buy” rating and set a $28.50 price target for the company in a research note on Wednesday, February 26th. Finally, Barclays set a $35.00 target price on Coupang and gave the stock an “overweight” rating in a report on Thursday, February 27th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Coupang presently has an average rating of “Moderate Buy” and an average target price of $29.17.

Insider Buying and Selling

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

Coupang Trading Up 0.0 %

NYSE CPNG opened at $19.77 on Wednesday. The firm has a market capitalization of $35.69 billion, a PE ratio of 34.68, a price-to-earnings-growth ratio of 52.20 and a beta of 1.09. The business’s 50-day moving average price is $23.27 and its two-hundred day moving average price is $23.77. 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 12 month low of $18.16 and a 12 month high of $26.91.

Coupang 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.