Hobbs Group Advisors LLC Lowers 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, HoldingsChannel.com reports. The institutional investor owned 15,860 shares of the company’s stock after selling 900 shares during the period. Hobbs Group Advisors LLC’s holdings in Coupang were worth $349,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in CPNG. Assenagon Asset Management S.A. increased its position in Coupang by 85.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,100,183 shares of the company’s stock valued at $24,182,000 after purchasing an additional 506,622 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in Coupang by 23.4% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 218,100 shares of the company’s stock valued at $4,861,000 after buying an additional 41,384 shares during the period. Elevate Capital Advisors LLC bought a new position in Coupang in the fourth quarter worth approximately $2,618,000. Charles Schwab Investment Management Inc. raised its stake in Coupang by 22.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 759,286 shares of the company’s stock worth $18,640,000 after buying an additional 138,416 shares in the last quarter. Finally, Plotkin Financial Advisors LLC bought a new stake in Coupang during the 3rd quarter valued at $491,000. 83.72% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on CPNG shares. Citigroup reduced their price target on Coupang from $31.00 to $28.00 and set a “buy” rating for the company in a research report on Wednesday, January 8th. Barclays set a $35.00 target price on shares of Coupang and gave the stock an “overweight” rating in a report on Thursday, February 27th. Deutsche Bank Aktiengesellschaft upgraded shares of Coupang from a “hold” rating to a “buy” rating and set a $28.50 price target on the stock in a report on Wednesday, February 26th. Finally, Mizuho boosted their price objective 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. 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.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $29.17.

Coupang Trading Down 5.1 %

Shares of Coupang stock opened at $22.32 on Friday. The firm’s 50 day simple moving average is $23.52 and its two-hundred day simple moving average is $23.94. 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. Coupang, Inc. has a 12-month low of $17.67 and a 12-month high of $26.91. The company has a current ratio of 1.13, a quick ratio of 0.86 and a debt-to-equity ratio of 0.28.

Insider Activity at Coupang

In related news, Director Benjamin Sun sold 250,000 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $23.43, for a total value of $5,857,500.00. Following the sale, the director now owns 1,719,421 shares in the company, valued at $40,286,034.03. This represents a 12.69 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Pranam Kolari sold 8,459 shares of the firm’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 transaction of $194,387.82. Following the transaction, the vice president now directly owns 136,806 shares of the company’s stock, valued at $3,143,801.88. This represents a 5.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 259,234 shares of company stock valued at $6,069,015 in the last ninety days. Company insiders own 13.60% of the company’s stock.

About Coupang

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.