Burns Matteson Capital Management LLC Cuts Position in Coupang, Inc. (NYSE:CPNG)

Burns Matteson Capital Management LLC lowered its holdings in shares of Coupang, Inc. (NYSE:CPNG) by 2.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 18,889 shares of the company’s stock after selling 473 shares during the quarter. Burns Matteson Capital Management LLC’s holdings in Coupang were worth $415,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Assenagon Asset Management S.A. lifted its position in shares of Coupang by 85.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,100,183 shares of the company’s stock valued at $24,182,000 after buying an additional 506,622 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Coupang by 22.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 759,286 shares of the company’s stock worth $18,640,000 after acquiring an additional 138,416 shares during the period. abrdn plc grew its position in shares of Coupang by 40.2% in the third quarter. abrdn plc now owns 202,359 shares of the company’s stock valued at $4,968,000 after purchasing an additional 58,060 shares during the period. Plotkin Financial Advisors LLC acquired a new stake in shares of Coupang in the third quarter valued at about $491,000. Finally, Coronation Fund Managers Ltd. increased its stake 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 worth $118,258,000 after purchasing an additional 2,802,325 shares in the last quarter. Hedge funds and other institutional investors own 83.72% of the company’s stock.

Insider Transactions at Coupang

In other news, VP Pranam Kolari sold 8,459 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $22.98, for a total transaction of $194,387.82. Following the completion of the sale, the vice president now owns 136,806 shares in the company, valued at $3,143,801.88. This trade represents a 5.82 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 13.60% of the company’s stock.

Coupang Price Performance

NYSE:CPNG opened at $23.65 on Monday. Coupang, Inc. has a one year low of $14.10 and a one year high of $26.91. The stock has a market cap of $42.54 billion, a PE ratio of 41.49, a P/E/G ratio of 43.21 and a beta of 1.11. 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 50 day moving average price of $22.94 and a 200 day moving average price of $23.53.

Analyst Ratings Changes

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

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.