WCM Investment Management LLC Trims Stock Holdings in Coupang, Inc. (NYSE:CPNG)

WCM Investment Management LLC trimmed its holdings in Coupang, Inc. (NYSE:CPNG - Free Report) by 4.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 49,608,511 shares of the company's stock after selling 2,049,065 shares during the period. Coupang accounts for about 2.6% of WCM Investment Management LLC's investment portfolio, making the stock its 11th largest position. WCM Investment Management LLC owned about 2.76% of Coupang worth $1,102,301,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of CPNG. Assenagon Asset Management S.A. grew its holdings in Coupang by 85.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,100,183 shares of the company's stock valued at $24,182,000 after purchasing an additional 506,622 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Coupang by 22.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 759,286 shares of the company's stock valued at $18,640,000 after acquiring an additional 138,416 shares during the period. abrdn plc grew its stake in Coupang by 40.2% during the 3rd quarter. abrdn plc now owns 202,359 shares of the company's stock worth $4,968,000 after buying an additional 58,060 shares during the last quarter. Plotkin Financial Advisors LLC acquired a new stake in shares of Coupang in the 3rd quarter worth about $491,000. Finally, Coronation Fund Managers Ltd. raised its holdings in shares of Coupang by 139.1% during the third quarter. Coronation Fund Managers Ltd. now owns 4,817,030 shares of the company's stock valued at $118,258,000 after buying an additional 2,802,325 shares during the last quarter. 83.72% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Barclays increased their price target on Coupang from $32.00 to $34.00 and gave the company an "overweight" rating in a research note on Wednesday. Citigroup lowered their price objective 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 company's stock. According to data from MarketBeat.com, Coupang currently has an average rating of "Moderate Buy" and an average price target of $27.78.

Insider Activity at Coupang

In other news, VP Pranam Kolari sold 8,459 shares of the firm's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $22.98, for a total transaction of $194,387.82. Following the completion of the sale, 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 position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 13.60% of the stock is owned by insiders.

Coupang Trading Down 0.8 %

NYSE:CPNG traded down $0.18 during mid-day trading on Wednesday, hitting $23.65. The company had a trading volume of 8,497,536 shares, compared to its average volume of 7,040,129. The firm has a market cap of $42.54 billion, a P/E ratio of 41.49, a P/E/G ratio of 43.21 and a beta of 1.11. Coupang, Inc. has a fifty-two week low of $14.51 and a fifty-two week high of $26.91. 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 business's fifty day moving average is $22.92 and its two-hundred day moving average is $23.58.

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.