Coupang, Inc. (NYSE:CPNG) Holdings Lifted by Rit Capital Partners PLC

Rit Capital Partners PLC raised its position in shares of Coupang, Inc. (NYSE:CPNG) by 10.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,100,000 shares of the company’s stock after acquiring an additional 200,000 shares during the period. Coupang makes up 5.5% of Rit Capital Partners PLC’s portfolio, making the stock its 6th biggest position. Rit Capital Partners PLC’s holdings in Coupang were worth $46,158,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wingate Wealth Advisors Inc. purchased a new stake in Coupang during the 4th quarter worth $26,000. Brooklyn Investment Group acquired a new position in shares of Coupang during the third quarter worth about $28,000. Berbice Capital Management LLC acquired a new position in shares of Coupang during the fourth quarter worth about $31,000. Allworth Financial LP grew its stake in shares of Coupang by 11,033.3% in the fourth quarter. Allworth Financial LP now owns 2,004 shares of the company’s stock valued at $45,000 after buying an additional 1,986 shares in the last quarter. Finally, Signaturefd LLC grew its stake in shares of Coupang by 34.7% in the fourth quarter. Signaturefd LLC now owns 3,193 shares of the company’s stock valued at $70,000 after buying an additional 822 shares in the last quarter. 83.72% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Coupang news, Director Benjamin Sun sold 250,000 shares of the business’s stock in a transaction 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 directly owns 1,719,421 shares of the company’s stock, valued at $40,286,034.03. The trade was a 12.69 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Pranam Kolari sold 8,459 shares of the firm’s stock in a transaction 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 completion of the sale, the vice president now directly 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 disclosure for this sale can be found here. Insiders sold a total of 259,234 shares of company stock valued at $6,069,015 over the last three months. Insiders own 13.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CPNG. Barclays set a $35.00 price target on Coupang and gave the stock an “overweight” rating in a report on Thursday, February 27th. Deutsche Bank Aktiengesellschaft upgraded Coupang from a “hold” rating to a “buy” rating and set a $28.50 price objective on the stock in a research note on Wednesday, February 26th. Citigroup cut their price objective 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. Finally, Mizuho lifted their target price on Coupang from $25.00 to $27.00 and gave the company 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 company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $29.17.

Coupang Stock Performance

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. The firm has a market cap of $40.29 billion, a PE ratio of 39.15, a P/E/G ratio of 52.20 and a beta of 1.10. The business has a fifty day simple moving average of $23.52 and a 200-day simple moving average of $23.95. Coupang, Inc. has a fifty-two week low of $17.67 and a fifty-two week 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.