Coupang, Inc. (NYSE:CPNG) is Rit Capital Partners PLC’s 6th Largest Position

Rit Capital Partners PLC increased its stake in shares of Coupang, Inc. (NYSE:CPNG) by 10.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,100,000 shares of the company’s stock after buying an additional 200,000 shares during the quarter. Coupang comprises about 5.5% of Rit Capital Partners PLC’s holdings, making the stock its 6th largest position. Rit Capital Partners PLC owned approximately 0.12% of Coupang worth $46,158,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Intech Investment Management LLC purchased a new position in Coupang during the 3rd quarter worth $250,000. Charles Schwab Investment Management Inc. raised its holdings 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 purchasing an additional 138,416 shares in the last quarter. Cerity Partners LLC acquired a new stake in Coupang in the third quarter valued at about $490,000. Bank of Montreal Can boosted its holdings in Coupang by 2,058.4% in the 3rd quarter. Bank of Montreal Can now owns 245,109 shares of the company’s stock valued at $6,081,000 after purchasing an additional 233,753 shares in the last quarter. Finally, Brooklyn Investment Group acquired a new position in Coupang during the 3rd quarter worth approximately $28,000. Hedge funds and other institutional investors own 83.72% of the company’s stock.

Coupang Stock Performance

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 fifty-two week low of $17.67 and a fifty-two week high of $26.91. The business has a fifty day moving average of $23.52 and a 200-day moving average of $23.95. The stock has a market cap of $40.29 billion, a price-to-earnings ratio of 39.15, a price-to-earnings-growth ratio of 52.20 and a beta of 1.10.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CPNG. 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 report on Wednesday, February 26th. Citigroup reduced their target price on Coupang from $31.00 to $28.00 and set a “buy” rating for the company in a report on Wednesday, January 8th. Mizuho lifted their price target on shares of Coupang from $25.00 to $27.00 and gave the company a “neutral” rating in a research report on Wednesday, February 26th. Finally, Barclays set a $35.00 price objective on Coupang and gave the company an “overweight” rating in a research note on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $29.17.

Insider Buying and Selling

In related news, Director Benjamin Sun sold 250,000 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $23.43, for a total transaction of $5,857,500.00. Following the sale, the director now 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Pranam Kolari sold 8,459 shares of the business’s 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 transaction, the vice president now owns 136,806 shares of the company’s stock, valued at $3,143,801.88. This trade represents a 5.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 259,234 shares of company stock worth $6,069,015. 13.60% of the stock is owned by corporate insiders.

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.