CenterBook Partners LP Purchases Shares of 36,466 Coupang, Inc. (NYSE:CPNG)

CenterBook Partners LP acquired 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 and Exchange Commission (SEC). The institutional investor acquired 36,466 shares of the company’s stock, valued at approximately $802,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in CPNG. Wingate Wealth Advisors Inc. bought a new position in Coupang during the 4th quarter worth about $26,000. Berbice Capital Management LLC bought a new position in shares of Coupang during the fourth quarter worth about $31,000. Allworth Financial LP grew 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. Signaturefd LLC raised its position in 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 buying an additional 822 shares during the last quarter. Finally, Atala Financial Inc bought a new stake in Coupang in the 4th quarter valued at approximately $80,000. 83.72% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CPNG has been the topic of a number of recent research reports. Barclays set a $35.00 price objective on shares of Coupang and gave the company an “overweight” rating in a report on Thursday, February 27th. Citigroup cut their price target on shares of Coupang from $31.00 to $28.00 and set a “buy” rating on the stock in a research report on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft upgraded shares of Coupang from a “hold” rating to a “buy” rating and set a $28.50 price objective for the company in a research note on Wednesday, February 26th. Finally, Mizuho upped their target price on Coupang from $25.00 to $27.00 and gave the stock a “neutral” rating in a report on Wednesday, February 26th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $29.17.

Insider Transactions at Coupang

In other Coupang 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 completion of the sale, the director now directly owns 1,719,421 shares in the company, valued at $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 SEC, which is available at this hyperlink. Also, VP Pranam Kolari sold 8,459 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $22.98, for a total value of $194,387.82. Following the sale, the vice president now owns 136,806 shares of the company’s stock, valued at approximately $3,143,801.88. This represents a 5.82 % decrease in their position. The disclosure for this sale can be found here. 13.60% of the stock is currently owned by corporate insiders.

Coupang Price Performance

Shares of NYSE CPNG opened at $21.68 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. The business’s 50 day moving average price is $23.10 and its two-hundred day moving average price is $23.69. The company has a market cap of $39.13 billion, a PE ratio of 38.03, a price-to-earnings-growth ratio of 52.20 and a beta of 1.09. Coupang, Inc. has a twelve month low of $18.16 and a twelve month high of $26.91.

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.