Klingman & Associates LLC Cuts Stock Position in Coupang, Inc. (NYSE:CPNG)

Klingman & Associates LLC lowered its stake in Coupang, Inc. (NYSE:CPNG) by 20.0% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 47,712 shares of the company’s stock after selling 11,892 shares during the period. Klingman & Associates LLC’s holdings in Coupang were worth $1,049,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in CPNG. Wingate Wealth Advisors Inc. purchased a new stake in shares of Coupang in the 4th quarter worth approximately $26,000. Brooklyn Investment Group purchased a new stake in shares of Coupang in the 3rd quarter worth approximately $28,000. Berbice Capital Management LLC purchased a new stake in shares of Coupang in the 4th quarter worth approximately $31,000. Van ECK Associates Corp grew its stake in shares of Coupang by 63.1% in the 3rd quarter. Van ECK Associates Corp now owns 1,251 shares of the company’s stock worth $32,000 after buying an additional 484 shares during the last quarter. Finally, Allworth Financial LP boosted its stake in Coupang by 11,033.3% during the 4th quarter. Allworth Financial LP now owns 2,004 shares of the company’s stock valued at $45,000 after purchasing an additional 1,986 shares during the last quarter. Hedge funds and other institutional investors own 83.72% of the company’s stock.

Wall Street Analyst Weigh In

CPNG has been the topic of several recent analyst reports. Citigroup cut their target price on Coupang from $31.00 to $28.00 and set a “buy” rating on the stock in a research note on Wednesday, January 8th. Barclays increased their target price on Coupang from $32.00 to $34.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $27.78.

Coupang Price Performance

NYSE CPNG opened at $25.50 on Wednesday. The business’s fifty day moving average price is $23.03 and its 200-day moving average price is $23.74. The stock has a market capitalization of $45.86 billion, a price-to-earnings ratio of 44.73, a PEG ratio of 43.21 and a beta of 1.11. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.13 and a quick ratio of 0.86. Coupang, Inc. has a 1-year low of $15.50 and a 1-year high of $26.91.

Insider Activity

In other news, VP Pranam Kolari sold 8,459 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $22.98, for a total transaction of $194,387.82. Following the transaction, the vice president now directly owns 136,806 shares of the company’s stock, 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 through this link. 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.