Summit Trail Advisors LLC Trims Stock Position in Coupang, Inc. (NYSE:CPNG)

Summit Trail Advisors LLC lessened its holdings in Coupang, Inc. (NYSE:CPNG) by 27.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 53,010 shares of the company’s stock after selling 20,396 shares during the period. Summit Trail Advisors LLC’s holdings in Coupang were worth $1,165,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Pacer Advisors Inc. lifted its holdings in shares of Coupang by 4.1% in the fourth quarter. Pacer Advisors Inc. now owns 11,502 shares of the company’s stock valued at $253,000 after purchasing an additional 452 shares in the last quarter. Angeles Wealth Management LLC raised its position in shares of Coupang by 0.8% in the fourth quarter. Angeles Wealth Management LLC now owns 55,074 shares of the company’s stock valued at $1,211,000 after buying an additional 459 shares during the last quarter. Ignite Planners LLC raised its position in shares of Coupang by 2.5% in the fourth quarter. Ignite Planners LLC now owns 20,162 shares of the company’s stock valued at $452,000 after buying an additional 483 shares during the last quarter. Van ECK Associates Corp raised its position in shares of Coupang by 63.1% in the third quarter. Van ECK Associates Corp now owns 1,251 shares of the company’s stock valued at $32,000 after buying an additional 484 shares during the last quarter. Finally, Covestor Ltd raised its position in shares of Coupang by 10.4% in the third quarter. Covestor Ltd now owns 6,479 shares of the company’s stock valued at $159,000 after buying an additional 612 shares during the last quarter. Hedge funds and other institutional investors own 83.72% of the company’s stock.

Insider Buying and Selling

In related news, VP Pranam Kolari sold 8,459 shares of the company’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 transaction, the vice president now owns 136,806 shares of the company’s stock, valued at approximately $3,143,801.88. This represents a 5.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 13.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Separately, Citigroup cut their price objective on shares of Coupang from $31.00 to $28.00 and set a “buy” rating for the company in a research report on Wednesday, January 8th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $27.56.

Coupang Stock Performance

Shares of CPNG stock opened at $23.85 on Wednesday. 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 company has a 50 day moving average price of $22.92 and a 200 day moving average price of $23.58. The firm has a market capitalization of $42.89 billion, a price-to-earnings ratio of 41.83, a price-to-earnings-growth ratio of 43.21 and a beta of 1.11.

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.