Rhumbline Advisers Boosts Stock Position in Coupang, Inc. (NYSE:CPNG)

Rhumbline Advisers grew its holdings in shares of Coupang, Inc. (NYSE:CPNG) by 3.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,820,209 shares of the company’s stock after buying an additional 62,204 shares during the period. Rhumbline Advisers owned 0.10% of Coupang worth $40,008,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in CPNG. Wingate Wealth Advisors Inc. purchased a new stake in Coupang during the fourth quarter worth approximately $26,000. Brooklyn Investment Group purchased a new stake in shares of Coupang during the 3rd quarter worth approximately $28,000. Berbice Capital Management LLC acquired a new position in shares of Coupang in the 4th quarter valued at $31,000. Van ECK Associates Corp grew its position 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 buying an additional 484 shares during the last quarter. Finally, Signaturefd LLC raised its stake in Coupang by 438.9% during the 3rd quarter. Signaturefd LLC now owns 2,371 shares of the company’s stock worth $58,000 after acquiring an additional 1,931 shares in the last quarter. 83.72% of the stock is owned by institutional investors and hedge funds.

Coupang Price Performance

Shares of NYSE CPNG opened at $25.30 on Tuesday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.13 and a quick ratio of 0.86. The company has a market cap of $45.50 billion, a PE ratio of 44.38, a P/E/G ratio of 43.21 and a beta of 1.11. The stock has a fifty day moving average price of $23.00 and a 200 day moving average price of $23.71. Coupang, Inc. has a 1-year low of $15.14 and a 1-year high of $26.91.

Insider Activity

In related news, 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 transaction of $194,387.82. Following the transaction, 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 sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 13.60% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on CPNG. Barclays raised their price objective on Coupang from $32.00 to $34.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. Citigroup cut their price target on Coupang from $31.00 to $28.00 and set a “buy” rating on the stock in a research report on Wednesday, January 8th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, Coupang currently has an average rating of “Moderate Buy” and an average target price of $27.78.

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.