119,102 Shares in Coupang, Inc. (NYSE:CPNG) Acquired by Elevate Capital Advisors LLC

Elevate Capital Advisors LLC bought a new position in shares of Coupang, Inc. (NYSE:CPNG) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 119,102 shares of the company’s stock, valued at approximately $2,618,000. Coupang makes up about 2.3% of Elevate Capital Advisors LLC’s holdings, making the stock its 11th largest holding.

Other hedge funds have also recently added to or reduced their stakes in the company. FMR LLC lifted its stake in Coupang by 32.0% during the third quarter. FMR LLC now owns 27,153,608 shares of the company’s stock valued at $666,621,000 after buying an additional 6,584,910 shares in the last quarter. Coronation Fund Managers Ltd. raised its holdings in shares of Coupang by 139.1% during the third quarter. Coronation Fund Managers Ltd. now owns 4,817,030 shares of the company’s stock valued at $118,258,000 after acquiring an additional 2,802,325 shares during the period. Wellington Management Group LLP lifted its position in shares of Coupang by 43.2% in the 3rd quarter. Wellington Management Group LLP now owns 8,630,058 shares of the company’s stock valued at $211,868,000 after acquiring an additional 2,603,046 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its stake in Coupang by 762.2% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 2,798,782 shares of the company’s stock worth $68,710,000 after purchasing an additional 2,474,175 shares during the period. Finally, Ninety One UK Ltd purchased a new position in Coupang during the 4th quarter worth approximately $46,388,000. Institutional investors and hedge funds own 83.72% of the company’s stock.

Coupang Price Performance

Shares of Coupang stock opened at $23.65 on Monday. 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 firm has a fifty day simple moving average of $22.94 and a 200-day simple moving average of $23.53. The stock has a market capitalization of $42.54 billion, a price-to-earnings ratio of 41.49, a PEG ratio of 43.21 and a beta of 1.11. Coupang, Inc. has a 1-year low of $14.10 and a 1-year high of $26.91.

Insider Buying and Selling at Coupang

In other news, VP Pranam Kolari sold 8,459 shares of the 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 completion of the sale, the vice president now directly owns 136,806 shares of the company’s stock, valued at approximately $3,143,801.88. This represents a 5.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 13.60% of the company’s stock.

Analyst Ratings Changes

Separately, Citigroup decreased their target price on Coupang from $31.00 to $28.00 and set a “buy” rating for the company in a research report on Wednesday, January 8th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $27.56.

Coupang Company 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.