Coupang, Inc. (NYSE:CPNG) Position Cut by Covestor Ltd

Covestor Ltd decreased its position in shares of Coupang, Inc. (NYSE:CPNG) by 9.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,847 shares of the company’s stock after selling 632 shares during the quarter. Covestor Ltd’s holdings in Coupang were worth $129,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of CPNG. Treasurer of the State of North Carolina boosted its stake in Coupang by 3.3% during the 4th quarter. Treasurer of the State of North Carolina now owns 522,638 shares of the company’s stock valued at $11,488,000 after purchasing an additional 16,480 shares during the period. CenterBook Partners LP acquired a new position in shares of Coupang during the fourth quarter worth approximately $802,000. Martingale Asset Management L P grew its holdings in Coupang by 35.7% in the 4th quarter. Martingale Asset Management L P now owns 62,818 shares of the company’s stock worth $1,381,000 after buying an additional 16,542 shares in the last quarter. Capula Management Ltd acquired a new stake in Coupang in the 4th quarter valued at approximately $1,121,000. Finally, Bank of Nova Scotia bought a new stake in Coupang during the 4th quarter valued at $725,000. Institutional investors own 83.72% of the company’s stock.

Coupang Trading Up 3.2 %

Shares of NYSE:CPNG opened at $21.68 on Friday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.86 and a current ratio of 1.13. The stock has a market capitalization of $39.13 billion, a price-to-earnings ratio of 38.03, a PEG ratio of 52.20 and a beta of 1.09. Coupang, Inc. has a 1-year low of $18.16 and a 1-year high of $26.91. The company has a 50 day moving average price of $23.10 and a 200 day moving average price of $23.69.

Insider Activity

In other Coupang news, VP Pranam Kolari sold 8,459 shares of the business’s stock in a transaction dated 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 in the company, valued at approximately $3,143,801.88. The trade was a 5.82 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Benjamin Sun sold 250,000 shares of the firm’s stock in a transaction dated 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 transaction, the director now 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 own 13.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Citigroup lowered their price target on Coupang from $31.00 to $28.00 and set a “buy” rating on the stock in a report on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft raised shares of Coupang from a “hold” rating to a “buy” rating and set a $28.50 target price on the stock in a research note on Wednesday, February 26th. Mizuho increased their price objective on shares of Coupang from $25.00 to $27.00 and gave the company a “neutral” rating in a report 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. Based on data from MarketBeat.com, the stock currently 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.