Principal Financial Group Inc. Sells 2,592 Shares of Coupang, Inc. (NYSE:CPNG)

Principal Financial Group Inc. lessened its stake in shares of Coupang, Inc. (NYSE:CPNG) by 2.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 96,945 shares of the company’s stock after selling 2,592 shares during the period. Principal Financial Group Inc.’s holdings in Coupang were worth $2,131,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Wingate Wealth Advisors Inc. acquired a new stake in Coupang in the fourth quarter valued at about $26,000. Brooklyn Investment Group bought a new position in shares of Coupang in the third quarter worth about $28,000. Berbice Capital Management LLC bought a new position in shares of Coupang in the fourth quarter worth about $31,000. Van ECK Associates Corp boosted its stake in shares of Coupang by 63.1% in the 3rd quarter. Van ECK Associates Corp now owns 1,251 shares of the company’s stock valued at $32,000 after purchasing an additional 484 shares in the last quarter. Finally, Allworth Financial LP grew its holdings in shares of Coupang by 11,033.3% during the 4th 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 during the last quarter. Institutional investors own 83.72% of the company’s stock.

Coupang Stock Performance

Shares of CPNG stock opened at $23.98 on Thursday. The business’s 50-day moving average price is $23.27 and its 200-day moving average price is $23.91. Coupang, Inc. has a 12 month low of $17.34 and a 12 month high of $26.91. The firm has a market capitalization of $43.14 billion, a price-to-earnings ratio of 42.08, a PEG ratio of 52.20 and a beta of 1.11. The company has a current ratio of 1.13, a quick ratio of 0.86 and a debt-to-equity ratio of 0.28.

Analyst Ratings Changes

Several brokerages recently commented on CPNG. Mizuho increased their price objective on shares of Coupang from $25.00 to $27.00 and gave the company a “neutral” rating in a research note 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. 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. Finally, Citigroup cut their price target on Coupang from $31.00 to $28.00 and set a “buy” rating on the stock in a research note on Wednesday, January 8th. One 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, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $29.17.

Insider Activity

In related news, VP Pranam Kolari sold 8,459 shares of Coupang stock in a transaction that occurred 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 transaction, the vice president now directly owns 136,806 shares of the company’s stock, valued at $3,143,801.88. The trade was a 5.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 13.60% of the company’s stock.

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.