Rit Capital Partners PLC Has $46.16 Million Stock Holdings in Coupang, Inc. (NYSE:CPNG)

Rit Capital Partners PLC increased its position in Coupang, Inc. (NYSE:CPNG - Free Report) by 10.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,100,000 shares of the company's stock after buying an additional 200,000 shares during the quarter. Coupang accounts for approximately 5.5% of Rit Capital Partners PLC's holdings, making the stock its 6th biggest holding. Rit Capital Partners PLC owned about 0.12% of Coupang worth $46,158,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Pacer Advisors Inc. raised its holdings in shares of Coupang by 4.1% during the fourth quarter. Pacer Advisors Inc. now owns 11,502 shares of the company's stock valued at $253,000 after acquiring an additional 452 shares in the last quarter. Angeles Wealth Management LLC raised its holdings in Coupang by 0.8% in the 4th quarter. Angeles Wealth Management LLC now owns 55,074 shares of the company's stock worth $1,211,000 after purchasing an additional 459 shares in the last quarter. IFP Advisors Inc raised its holdings in Coupang by 3.8% in the 4th quarter. IFP Advisors Inc now owns 12,734 shares of the company's stock worth $280,000 after purchasing an additional 469 shares in the last quarter. Ignite Planners LLC lifted its position in shares of Coupang by 2.5% in the 4th quarter. Ignite Planners LLC now owns 20,162 shares of the company's stock worth $452,000 after purchasing an additional 483 shares during the period. Finally, Janus Henderson Group PLC boosted its stake in shares of Coupang by 2.2% during the 3rd quarter. Janus Henderson Group PLC now owns 34,598 shares of the company's stock valued at $850,000 after purchasing an additional 747 shares in the last quarter. 83.72% of the stock is currently owned by institutional investors.

Remove Ads

Insider Buying and Selling

In related news, VP Pranam Kolari sold 8,459 shares of Coupang stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $22.98, for a total value of $194,387.82. Following the completion of the transaction, the vice president now owns 136,806 shares in the company, 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 legal filing with the SEC, which is accessible through this hyperlink. Also, Director Benjamin Sun sold 250,000 shares of the company's stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $23.43, for a total value of $5,857,500.00. Following the sale, the director now owns 1,719,421 shares in the company, valued at approximately $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. 13.60% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CPNG. Mizuho upped their target price on Coupang from $25.00 to $27.00 and gave the stock a "neutral" rating in a report on Wednesday, February 26th. Barclays set a $35.00 price target on shares of 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 for the company in a research report on Wednesday, January 8th. Finally, Deutsche Bank Aktiengesellschaft upgraded Coupang from a "hold" rating to a "buy" rating and set a $28.50 price target on the stock in a research note on Wednesday, February 26th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Coupang currently has an average rating of "Moderate Buy" and an average target price of $29.17.

Coupang Price Performance

NYSE CPNG traded down $0.94 on Thursday, reaching $21.55. The company had a trading volume of 4,893,367 shares, compared to its average volume of 8,396,057. The firm's 50 day moving average price is $23.52 and its 200 day moving average price is $23.91. Coupang, Inc. has a 12 month low of $18.14 and a 12 month high of $26.91. The stock has a market capitalization of $38.91 billion, a PE ratio of 37.81, a price-to-earnings-growth ratio of 52.20 and a beta of 1.10. The company has a quick ratio of 0.86, a current ratio of 1.13 and a debt-to-equity ratio of 0.28.

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.