Stevens Capital Management LP Acquires New Shares in Coupang, Inc. (NYSE:CPNG)

Stevens Capital Management LP bought a new position in shares of Coupang, Inc. (NYSE:CPNG) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 12,148 shares of the company’s stock, valued at approximately $267,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Brooklyn Investment Group bought a new stake in shares of Coupang during the 3rd quarter valued at approximately $28,000. Wingate Wealth Advisors Inc. acquired a new stake in Coupang in the fourth quarter valued at approximately $26,000. Berbice Capital Management LLC bought a new stake in shares of Coupang during the fourth quarter worth $31,000. Allworth Financial LP increased its holdings in shares of Coupang by 11,033.3% during the fourth quarter. Allworth Financial LP now owns 2,004 shares of the company’s stock worth $45,000 after buying an additional 1,986 shares in the last quarter. Finally, Signaturefd LLC lifted its stake in shares of Coupang by 34.7% in the 4th quarter. Signaturefd LLC now owns 3,193 shares of the company’s stock valued at $70,000 after acquiring an additional 822 shares during the last quarter. 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 Coupang stock in a transaction on Monday, February 3rd. The shares were 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 owns 136,806 shares in the company, valued at $3,143,801.88. The trade was a 5.82 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Benjamin Sun sold 250,000 shares of the stock in a transaction on 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 transaction, the director now directly owns 1,719,421 shares in the company, valued at approximately $40,286,034.03. This represents a 12.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 259,234 shares of company stock valued at $6,069,015. Corporate insiders own 13.60% of the company’s stock.

Coupang Price Performance

Shares of NYSE CPNG opened at $23.57 on Tuesday. The company has a market capitalization of $42.55 billion, a PE ratio of 41.35, a P/E/G ratio of 52.20 and a beta of 1.10. The company has a quick ratio of 0.86, a current ratio of 1.13 and a debt-to-equity ratio of 0.28. Coupang, Inc. has a twelve month low of $17.34 and a twelve month high of $26.91. The firm has a fifty day simple moving average of $23.44 and a 200 day simple moving average of $23.94.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CPNG. Mizuho boosted their price objective on Coupang from $25.00 to $27.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 26th. Barclays set a $35.00 price target on Coupang and gave the stock an “overweight” rating in a report on Thursday, February 27th. Citigroup dropped their price objective on shares of Coupang from $31.00 to $28.00 and set a “buy” rating for the company in a report on Wednesday, January 8th. Finally, 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 report on Wednesday, February 26th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $29.17.

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.