Elevate Capital Advisors LLC Takes Position in Coupang, Inc. (NYSE:CPNG)

Elevate Capital Advisors LLC bought a new stake in Coupang, Inc. (NYSE:CPNG) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 119,102 shares of the company’s stock, valued at approximately $2,618,000. Coupang accounts for about 2.3% of Elevate Capital Advisors LLC’s portfolio, making the stock its 11th biggest position.

Several other hedge funds have also recently added to or reduced their stakes in CPNG. FMR LLC grew its holdings in shares of Coupang by 32.0% in the 3rd quarter. FMR LLC now owns 27,153,608 shares of the company’s stock worth $666,621,000 after purchasing an additional 6,584,910 shares during the last quarter. State Street Corp boosted its position in Coupang by 1.9% in the third quarter. State Street Corp now owns 14,125,599 shares of the company’s stock valued at $346,783,000 after buying an additional 259,400 shares in the last quarter. Wellington Management Group LLP grew its stake in Coupang by 43.2% during the third quarter. Wellington Management Group LLP now owns 8,630,058 shares of the company’s stock worth $211,868,000 after buying an additional 2,603,046 shares during the last quarter. Coronation Fund Managers Ltd. increased its holdings in shares of Coupang by 53.3% during the fourth quarter. Coronation Fund Managers Ltd. now owns 7,383,611 shares of the company’s stock worth $162,292,000 after buying an additional 2,566,581 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Coupang by 0.5% in the third quarter. Geode Capital Management LLC now owns 5,885,243 shares of the company’s stock valued at $144,483,000 after acquiring an additional 29,164 shares during the last quarter. Institutional investors and hedge funds own 83.72% of the company’s stock.

Insider Activity

In related news, VP Pranam Kolari sold 8,459 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were 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 owns 136,806 shares in the company, valued at $3,143,801.88. This represents a 5.82 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 13.60% of the stock is currently owned by company insiders.

Coupang Trading Down 0.9 %

NYSE:CPNG opened at $23.65 on Monday. The company has a current ratio of 1.13, a quick ratio of 0.86 and a debt-to-equity ratio of 0.28. Coupang, Inc. has a 1-year low of $14.10 and a 1-year high of $26.91. The firm has a market capitalization of $42.54 billion, a price-to-earnings ratio of 41.49, a PEG ratio of 43.21 and a beta of 1.11. The business’s 50-day moving average price is $22.94 and its two-hundred day moving average price is $23.53.

Analyst Upgrades and Downgrades

Separately, Citigroup dropped their price target on Coupang from $31.00 to $28.00 and set a “buy” rating for the company in a report 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. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $27.56.

Coupang Company 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.