Ardmore Road Asset Management LP Invests $7.69 Million in Coupang, Inc. (NYSE:CPNG)

Ardmore Road Asset Management LP acquired a new position in Coupang, Inc. (NYSE:CPNG) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 350,000 shares of the company’s stock, valued at approximately $7,693,000.

Other institutional investors also recently bought and sold shares of the company. Wingate Wealth Advisors Inc. bought a new position in shares of Coupang in the fourth quarter worth about $26,000. Berbice Capital Management LLC bought a new stake in Coupang during the 4th quarter worth approximately $31,000. Allworth Financial LP lifted its holdings in Coupang by 11,033.3% during the fourth quarter. Allworth Financial LP now owns 2,004 shares of the company’s stock valued at $45,000 after purchasing an additional 1,986 shares in the last quarter. Signaturefd LLC boosted its position in shares of Coupang by 34.7% in the fourth quarter. Signaturefd LLC now owns 3,193 shares of the company’s stock worth $70,000 after purchasing an additional 822 shares during the period. Finally, Atala Financial Inc bought a new position in shares of Coupang in the fourth quarter worth approximately $80,000. 83.72% of the stock is owned by institutional investors.

Coupang Stock Up 1.2 %

Shares of NYSE:CPNG opened at $22.20 on Wednesday. The firm has a market capitalization of $40.07 billion, a PE ratio of 38.94, a price-to-earnings-growth ratio of 52.20 and a beta of 1.10. The business has a 50 day simple moving average of $23.51 and a two-hundred day simple moving average of $23.92. Coupang, Inc. has a 1 year low of $17.67 and a 1 year high of $26.91. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.13 and a quick ratio of 0.86.

Analyst Upgrades and Downgrades

CPNG has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft raised shares of Coupang from a “hold” rating to a “buy” rating and set a $28.50 target price for the company in a research note on Wednesday, February 26th. Mizuho boosted their target price on Coupang from $25.00 to $27.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 26th. Citigroup cut their price target on Coupang from $31.00 to $28.00 and set a “buy” rating for the company in a report on Wednesday, January 8th. Finally, Barclays set a $35.00 price objective on Coupang and gave the stock an “overweight” rating in a report on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $29.17.

Insider Activity

In other Coupang news, Director Benjamin Sun sold 250,000 shares of Coupang 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 sale, 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 SEC, which is available at this hyperlink. Also, VP Pranam Kolari sold 8,459 shares of the company’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $22.98, for a total value of $194,387.82. Following the completion of the sale, the vice president now owns 136,806 shares of the company’s stock, valued at $3,143,801.88. This represents a 5.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 259,234 shares of company stock valued at $6,069,015. 13.60% of the stock is currently owned by company 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.