Sapient Capital LLC Lowers Stake in Coupang, Inc. (NYSE:CPNG)

Sapient Capital LLC trimmed its position in Coupang, Inc. (NYSE:CPNG) by 3.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 144,334 shares of the company’s stock after selling 4,926 shares during the quarter. Sapient Capital LLC’s holdings in Coupang were worth $3,172,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Wingate Wealth Advisors Inc. acquired a new position in Coupang during the fourth quarter valued at approximately $26,000. Elevate Capital Advisors LLC purchased a new position in shares of Coupang in the 4th quarter valued at $2,618,000. Angeles Wealth Management LLC raised its stake in shares of Coupang by 0.8% in the 4th quarter. Angeles Wealth Management LLC now owns 55,074 shares of the company’s stock valued at $1,211,000 after acquiring an additional 459 shares during the period. Coronation Fund Managers Ltd. lifted its holdings in shares of Coupang by 53.3% during the 4th quarter. Coronation Fund Managers Ltd. now owns 7,383,611 shares of the company’s stock valued at $162,292,000 after acquiring an additional 2,566,581 shares in the last quarter. Finally, Empowered Funds LLC purchased a new stake in Coupang during the 4th quarter worth $772,000. 83.72% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Citigroup reduced their price objective on Coupang from $31.00 to $28.00 and set a “buy” rating on the stock in a research note on Wednesday, January 8th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, Coupang has an average rating of “Moderate Buy” and a consensus target price of $27.56.

Coupang Trading Up 0.5 %

NYSE:CPNG opened at $23.78 on Tuesday. The stock has a market cap of $42.78 billion, a price-to-earnings ratio of 41.72, a price-to-earnings-growth ratio of 43.21 and a beta of 1.11. Coupang, Inc. has a one year low of $14.48 and a one year high of $26.91. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.86 and a current ratio of 1.13. The business’s 50-day simple moving average is $22.92 and its 200 day simple moving average is $23.56.

Insiders Place Their Bets

In other news, VP Pranam Kolari sold 8,459 shares of the firm’s 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 sale, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 13.60% of the stock is owned by company insiders.

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.