Hobbs Group Advisors LLC Trims Holdings in Coupang, Inc. (NYSE:CPNG)

Hobbs Group Advisors LLC lowered its position in shares of Coupang, Inc. (NYSE:CPNG) by 5.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,860 shares of the company’s stock after selling 900 shares during the quarter. Hobbs Group Advisors LLC’s holdings in Coupang were worth $349,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Pacer Advisors Inc. raised its stake in Coupang by 4.1% during the 4th quarter. Pacer Advisors Inc. now owns 11,502 shares of the company’s stock valued at $253,000 after purchasing an additional 452 shares during the period. Angeles Wealth Management LLC grew its holdings in Coupang by 0.8% during the 4th quarter. Angeles Wealth Management LLC now owns 55,074 shares of the company’s stock valued at $1,211,000 after buying an additional 459 shares in the last quarter. IFP Advisors Inc raised its position in shares of Coupang by 3.8% during the fourth quarter. IFP Advisors Inc now owns 12,734 shares of the company’s stock valued at $280,000 after buying an additional 469 shares during the last quarter. Ignite Planners LLC lifted its holdings in shares of Coupang by 2.5% in the fourth quarter. Ignite Planners LLC now owns 20,162 shares of the company’s stock worth $452,000 after buying an additional 483 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its position in shares of Coupang by 2.2% during the third quarter. Janus Henderson Group PLC now owns 34,598 shares of the company’s stock worth $850,000 after acquiring an additional 747 shares during the last quarter. 83.72% of the stock is currently owned by institutional investors.

Coupang Stock Down 5.1 %

NYSE CPNG opened at $22.32 on Friday. 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 52 week low of $17.67 and a 52 week high of $26.91. The firm has a market capitalization of $40.29 billion, a price-to-earnings ratio of 39.15, a PEG ratio of 52.20 and a beta of 1.10. The company has a fifty day moving average of $23.52 and a two-hundred day moving average of $23.94.

Analyst Upgrades and Downgrades

Several analysts have commented on CPNG shares. Mizuho boosted their price target on shares of Coupang from $25.00 to $27.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 26th. Deutsche Bank Aktiengesellschaft raised Coupang from a “hold” rating to a “buy” rating and set a $28.50 price target for the company in a research note on Wednesday, February 26th. Barclays set a $35.00 price objective on Coupang and gave the stock an “overweight” rating in a report on Thursday, February 27th. Finally, Citigroup cut their target price 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. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $29.17.

Insider Activity at Coupang

In other news, Director Benjamin Sun sold 250,000 shares of Coupang 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 completion of the sale, the director now directly owns 1,719,421 shares in the company, valued at approximately $40,286,034.03. This trade represents a 12.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Pranam Kolari sold 8,459 shares of the company’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 completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 259,234 shares of company stock worth $6,069,015. Insiders own 13.60% of the company’s stock.

Coupang 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.