Sei Investments Co. Acquires 16,716 Shares of Coupang, Inc. (NYSE:CPNG)

Sei Investments Co. grew its stake in Coupang, Inc. (NYSE:CPNG) by 0.8% in the 4th quarter, Holdings Channel.com reports. The firm owned 2,040,242 shares of the company’s stock after purchasing an additional 16,716 shares during the period. Sei Investments Co.’s holdings in Coupang were worth $44,845,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of CPNG. Pacer Advisors Inc. raised its holdings in Coupang by 4.1% during the 4th quarter. Pacer Advisors Inc. now owns 11,502 shares of the company’s stock valued at $253,000 after buying an additional 452 shares during the period. Angeles Wealth Management LLC raised its stake in shares of Coupang by 0.8% in the fourth quarter. Angeles Wealth Management LLC now owns 55,074 shares of the company’s stock valued at $1,211,000 after acquiring an additional 459 shares during the period. IFP Advisors Inc lifted its holdings in shares of Coupang by 3.8% in the 4th quarter. IFP Advisors Inc now owns 12,734 shares of the company’s stock worth $280,000 after acquiring an additional 469 shares during the last quarter. Ignite Planners LLC boosted its stake in shares of Coupang by 2.5% during the 4th quarter. Ignite Planners LLC now owns 20,162 shares of the company’s stock worth $452,000 after purchasing an additional 483 shares during the period. Finally, Janus Henderson Group PLC grew its holdings in Coupang by 2.2% during the 3rd quarter. Janus Henderson Group PLC now owns 34,598 shares of the company’s stock valued at $850,000 after purchasing an additional 747 shares during the last quarter. Hedge funds and other institutional investors own 83.72% of the company’s stock.

Coupang Stock Performance

Shares of Coupang stock opened at $23.57 on Tuesday. The company has a current ratio of 1.13, a quick ratio of 0.86 and a debt-to-equity ratio of 0.28. The stock’s fifty day moving average price is $23.44 and its 200-day moving average price is $23.94. The firm has a market cap of $42.55 billion, a P/E ratio of 41.35, a P/E/G ratio of 52.20 and a beta of 1.10. Coupang, Inc. has a 12 month low of $17.34 and a 12 month high of $26.91.

Insiders Place Their Bets

In other Coupang news, VP Pranam Kolari sold 8,459 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $22.98, for a total transaction of $194,387.82. Following the sale, the vice president now owns 136,806 shares of the company’s stock, valued at approximately $3,143,801.88. This trade represents a 5.82 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 value 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 approximately $40,286,034.03. The trade was a 12.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 259,234 shares of company stock worth $6,069,015 in the last three months. Corporate insiders own 13.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research 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 research report on Wednesday, February 26th. Barclays set a $35.00 price objective on Coupang and gave the company an “overweight” rating in a report on Thursday, February 27th. Mizuho increased their target price on Coupang from $25.00 to $27.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 26th. Finally, Citigroup lowered their target price on shares of Coupang from $31.00 to $28.00 and set a “buy” rating for the company in a research note on Wednesday, January 8th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $29.17.

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.