Stevens Capital Management LP Buys New Position in Coupang, Inc. (NYSE:CPNG)

Stevens Capital Management LP bought a new position in shares of Coupang, Inc. (NYSE:CPNG - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 12,148 shares of the company's stock, valued at approximately $267,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CPNG. Fox Run Management L.L.C. grew its holdings in shares of Coupang by 197.9% in the 4th quarter. Fox Run Management L.L.C. now owns 71,883 shares of the company's stock valued at $1,580,000 after acquiring an additional 47,756 shares in the last quarter. AXQ Capital LP acquired a new position in Coupang in the 4th quarter valued at $594,000. Sei Investments Co. increased its holdings in Coupang by 0.8% in the 4th quarter. Sei Investments Co. now owns 2,040,242 shares of the company's stock valued at $44,845,000 after buying an additional 16,716 shares during the period. Virtu Financial LLC acquired a new position in shares of Coupang during the 4th quarter worth $288,000. Finally, Quantbot Technologies LP bought a new position in shares of Coupang in the fourth quarter worth about $11,438,000. 83.72% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Coupang

In other Coupang news, VP Pranam Kolari sold 8,459 shares of the firm's stock in a transaction 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 completion of the sale, the vice president now owns 136,806 shares of the company's stock, 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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Benjamin Sun sold 250,000 shares of the business's stock in a transaction on Monday, March 17th. The stock was 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. The trade was a 12.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 259,234 shares of company stock valued at $6,069,015. 13.60% of the stock is currently owned by company insiders.

Remove Ads

Coupang Trading Down 0.7 %

NYSE CPNG traded down $0.17 during trading hours on Tuesday, reaching $23.42. The company had a trading volume of 4,800,492 shares, compared to its average volume of 8,308,765. The stock has a market capitalization of $42.28 billion, a P/E ratio of 41.09, a price-to-earnings-growth ratio of 52.20 and a beta of 1.10. The company has a current ratio of 1.13, a quick ratio of 0.86 and a debt-to-equity ratio of 0.28. Coupang, Inc. has a 1-year low of $17.55 and a 1-year high of $26.91. The stock has a 50-day moving average of $23.44 and a 200 day moving average of $23.94.

Analyst Upgrades and Downgrades

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

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.