Greenland Capital Management LP Cuts Holdings in Coupang, Inc. (NYSE:CPNG)

Greenland Capital Management LP cut its stake in Coupang, Inc. (NYSE:CPNG - Free Report) by 75.2% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 22,771 shares of the company's stock after selling 68,920 shares during the period. Greenland Capital Management LP's holdings in Coupang were worth $501,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CPNG. Capula Management Ltd bought a new position in shares of Coupang during the 4th quarter valued at $1,121,000. Bank of Nova Scotia purchased a new stake in Coupang during the fourth quarter valued at about $725,000. Renaissance Technologies LLC grew its stake in shares of Coupang by 8.2% during the fourth quarter. Renaissance Technologies LLC now owns 4,488,575 shares of the company's stock valued at $98,659,000 after buying an additional 340,747 shares during the last quarter. FIL Ltd increased its holdings in shares of Coupang by 16.3% in the fourth quarter. FIL Ltd now owns 41,446 shares of the company's stock worth $911,000 after buying an additional 5,822 shares during the period. Finally, Krane Funds Advisors LLC increased its stake in Coupang by 11.0% in the 4th quarter. Krane Funds Advisors LLC now owns 17,074 shares of the company's stock worth $375,000 after purchasing an additional 1,689 shares during the period. 83.72% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Barclays set a $35.00 price objective on Coupang and gave the stock an "overweight" rating in a research report on Thursday, February 27th. Mizuho raised their price objective on Coupang from $25.00 to $27.00 and gave the company a "neutral" rating in a research report on Wednesday, February 26th. Citigroup dropped their price target on shares of Coupang from $31.00 to $28.00 and set a "buy" rating on the stock in a research note on Wednesday, January 8th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Coupang from a "hold" rating to a "buy" rating and set a $28.50 price objective for the company in a research note on Wednesday, February 26th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, Coupang has an average rating of "Moderate Buy" and a consensus target price of $29.17.

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Insider Transactions at Coupang

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 stock was sold at an average price of $22.98, for a total value of $194,387.82. Following 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Benjamin Sun sold 250,000 shares of the stock in a transaction on 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 in the company, valued at $40,286,034.03. The trade was a 12.69 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 13.60% of the company's stock.

Coupang Price Performance

NYSE CPNG remained flat at $21.65 during trading on Monday. 1,483,023 shares of the company's stock were exchanged, compared to its average volume of 8,200,863. The company has a 50-day simple moving average of $23.10 and a 200 day simple moving average of $23.68. 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 stock has a market cap of $39.09 billion, a price-to-earnings ratio of 37.98, a price-to-earnings-growth ratio of 52.20 and a beta of 1.09. Coupang, Inc. has a 1-year low of $18.16 and a 1-year high of $26.91.

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.