Rhumbline Advisers Purchases 62,204 Shares of Coupang, Inc. (NYSE:CPNG)

Rhumbline Advisers lifted its holdings in Coupang, Inc. (NYSE:CPNG - Free Report) by 3.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,820,209 shares of the company's stock after purchasing an additional 62,204 shares during the quarter. Rhumbline Advisers owned 0.10% of Coupang worth $40,008,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Pacer Advisors Inc. grew 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 grew its holdings 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 purchasing an additional 459 shares in the last quarter. Ignite Planners LLC boosted its stake in Coupang by 2.5% during the fourth quarter. Ignite Planners LLC now owns 20,162 shares of the company's stock worth $452,000 after buying an additional 483 shares during the period. Van ECK Associates Corp boosted its stake in Coupang by 63.1% during the third 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 period. Finally, Covestor Ltd boosted its stake in Coupang by 10.4% during the third quarter. Covestor Ltd now owns 6,479 shares of the company's stock worth $159,000 after buying an additional 612 shares during the period. 83.72% of the stock is owned by hedge funds and other institutional investors.

Coupang Trading Down 1.3 %

Shares of NYSE:CPNG traded down $0.34 on Friday, hitting $24.80. 7,699,497 shares of the company's stock were exchanged, compared to its average volume of 7,530,991. Coupang, Inc. has a 12 month low of $15.81 and a 12 month high of $26.91. The stock has a market capitalization of $44.60 billion, a price-to-earnings ratio of 43.50, a price-to-earnings-growth ratio of 53.01 and a beta of 1.11. The business's 50 day simple moving average is $23.10 and its two-hundred day simple moving average is $23.79. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.13 and a quick ratio of 0.86.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Barclays lifted their price objective on shares of Coupang from $32.00 to $34.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 12th. Citigroup dropped their price objective on shares of Coupang from $31.00 to $28.00 and set a "buy" rating for the company in a research note on Wednesday, January 8th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat.com, Coupang currently has a consensus rating of "Moderate Buy" and a consensus price target of $27.78.

Insider Transactions at Coupang

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 sale, the vice president now directly owns 136,806 shares in the company, valued at $3,143,801.88. The trade was a 5.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate 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.