Legal & General Group Plc purchased a new position in shares of Coupang, Inc. (NYSE:CPNG) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 200,538 shares of the company’s stock, valued at approximately $8,379,000.
Other large investors have also modified their holdings of the company. Tradition Wealth Management LLC purchased a new stake in Coupang during the first quarter worth about $25,000. North Star Investment Management Corp. purchased a new stake in Coupang during the second quarter worth about $25,000. Psagot Investment House Ltd. acquired a new position in shares of Coupang during the second quarter worth about $25,000. BDO Wealth Advisors LLC acquired a new position in shares of Coupang during the first quarter worth about $27,000. Finally, Montag A & Associates Inc. acquired a new position in shares of Coupang during the first quarter worth about $28,000. Institutional investors own 70.20% of the company’s stock.
Coupang stock opened at $26.44 on Thursday. Coupang, Inc. has a 12 month low of $25.75 and a 12 month high of $69.00. The business has a 50 day simple moving average of $30.58 and a 200-day simple moving average of $37.32.
CPNG has been the subject of a number of analyst reports. Citigroup lowered their price objective on Coupang from $39.00 to $32.00 and set a “neutral” rating for the company in a research report on Tuesday. Deutsche Bank Aktiengesellschaft raised Coupang from a “hold” rating to a “buy” rating in a research report on Thursday, August 12th. Zacks Investment Research raised Coupang from a “sell” rating to a “hold” rating in a research report on Tuesday. Finally, CLSA assumed coverage on Coupang in a research report on Friday, July 9th. They set an “outperform” rating and a $46.00 price objective for the company. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $45.00.
In other Coupang news, major shareholder Svf Investments (Uk) Ltd sold 57,000,000 shares of the stock in a transaction on Tuesday, September 14th. The stock was sold at an average price of $29.68, for a total value of $1,691,760,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Thuan Pham sold 359,687 shares of the stock in a transaction on Monday, August 16th. The stock was sold at an average price of $33.17, for a total value of $11,930,817.79. The disclosure for this sale can be found here. Insiders sold 57,689,610 shares of company stock valued at $1,713,874,558 in the last quarter.
Coupang, Inc owns and operates in e-commerce business through its mobile applications and Internet websites primarily in South Korea. It sells various products and services in the categories of home goods and dÃ©cor products, apparel, beauty products, fresh food and groceries, sporting goods, electronics, and everyday consumables, as well as travel, and restaurant order and delivery services.
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