Bwcp LP Cuts Stake in Coupang, Inc. (NYSE:CPNG)

Bwcp LP trimmed its position in shares of Coupang, Inc. (NYSE:CPNG - Free Report) by 19.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 772,621 shares of the company's stock after selling 185,070 shares during the period. Coupang accounts for approximately 3.7% of Bwcp LP's investment portfolio, making the stock its 15th biggest position. Bwcp LP's holdings in Coupang were worth $16,982,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the company. Assenagon Asset Management S.A. lifted its holdings 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 worth $24,182,000 after purchasing an additional 506,622 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Coupang by 23.4% in the 4th 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 in the last quarter. Elevate Capital Advisors LLC bought a new stake in shares of Coupang during the 4th quarter worth approximately $2,618,000. New York Life Investment Management LLC acquired a new stake in shares of Coupang during the 4th quarter worth approximately $349,000. Finally, Ninety One UK Ltd bought a new position in Coupang in the fourth quarter valued at approximately $46,388,000. 83.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CPNG. Barclays set a $35.00 target price on Coupang and gave the company an "overweight" rating in a report on Thursday, February 27th. Citigroup decreased their target price on 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 raised Coupang from a "hold" rating to a "buy" rating and set a $28.50 target price for the company in a research note on Wednesday, February 26th. Finally, Mizuho raised shares of Coupang to a "hold" rating in a report on Friday, April 18th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $29.06.

Coupang Price Performance

Shares of NYSE CPNG traded down $0.14 during mid-day trading on Monday, reaching $23.97. 5,816,750 shares of the company were exchanged, compared to its average volume of 7,700,568. Coupang, Inc. has a 52 week low of $18.16 and a 52 week high of $26.91. The company's 50 day moving average price is $22.48 and its 200 day moving average price is $23.40. The stock has a market capitalization of $43.27 billion, a PE ratio of 42.04, a PEG ratio of 52.20 and a beta of 1.08. The company has a quick ratio of 0.86, a current ratio of 1.13 and a debt-to-equity ratio of 0.28.

Insider Transactions at Coupang

In other Coupang news, VP Pranam Kolari sold 9,347 shares of the company's stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $23.85, for a total value of $222,925.95. Following the completion of the transaction, the vice president now directly owns 177,106 shares in the company, valued at approximately $4,223,978.10. This represents a 5.01 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Benjamin Sun sold 250,000 shares of the firm's stock in a transaction dated Monday, March 17th. The stock was 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 owns 1,719,421 shares of the company's stock, valued at $40,286,034.03. This trade represents a 12.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.