CIBC Private Wealth Group LLC Cuts Stock Position in Coupang, Inc. (NYSE:CPNG)

CIBC Private Wealth Group LLC decreased its holdings in shares of Coupang, Inc. (NYSE:CPNG) by 17.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 275,122 shares of the company’s stock after selling 57,411 shares during the period. CIBC Private Wealth Group LLC’s holdings in Coupang were worth $6,130,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in CPNG. Intech Investment Management LLC purchased a new position in Coupang during the third quarter valued at $250,000. Charles Schwab Investment Management Inc. lifted its stake in Coupang by 22.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 759,286 shares of the company’s stock valued at $18,640,000 after buying an additional 138,416 shares in the last quarter. Cerity Partners LLC acquired a new stake in Coupang in the 3rd quarter worth about $490,000. Bank of Montreal Can increased its stake in Coupang by 2,058.4% during the 3rd quarter. Bank of Montreal Can now owns 245,109 shares of the company’s stock worth $6,081,000 after buying an additional 233,753 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Coupang by 8.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,247,757 shares of the company’s stock valued at $30,632,000 after acquiring an additional 92,463 shares during the last quarter. Institutional investors and hedge funds own 83.72% of the company’s stock.

Insider Buying and Selling

In related news, VP Pranam Kolari sold 8,459 shares of the 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 transaction, the vice president now owns 136,806 shares of the company’s stock, valued at approximately $3,143,801.88. This trade represents a 5.82 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Benjamin Sun sold 250,000 shares of the business’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 value 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. The trade was a 12.69 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 259,234 shares of company stock worth $6,069,015. Company insiders own 13.60% of the company’s stock.

Coupang Stock Up 1.2 %

Shares of NYSE CPNG opened at $22.20 on Wednesday. The company has a market capitalization of $40.07 billion, a P/E ratio of 38.94, a P/E/G ratio of 52.20 and a beta of 1.10. 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 50 day simple moving average of $23.51 and a 200-day simple moving average of $23.92. Coupang, Inc. has a 1 year low of $17.67 and a 1 year high of $26.91.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Mizuho lifted their price target on Coupang from $25.00 to $27.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 26th. Citigroup dropped 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. Deutsche Bank Aktiengesellschaft raised shares of Coupang from a “hold” rating to a “buy” rating and set a $28.50 price target on the stock in a research note on Wednesday, February 26th. Finally, Barclays set a $35.00 price objective on shares of Coupang and gave the company an “overweight” rating in a research note on Thursday, February 27th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target 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.