Convergence Investment Partners LLC Has $143,000 Stake in Coupang, Inc. (NYSE:CPNG)

Convergence Investment Partners LLC decreased its stake in shares of Coupang, Inc. (NYSE:CPNG) by 47.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 6,523 shares of the company’s stock after selling 5,866 shares during the quarter. Convergence Investment Partners LLC’s holdings in Coupang were worth $143,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of the stock. FMR LLC grew its position in shares of Coupang by 32.0% during the 3rd quarter. FMR LLC now owns 27,153,608 shares of the company’s stock worth $666,621,000 after buying an additional 6,584,910 shares during the period. State Street Corp grew its position in shares of Coupang by 1.9% during the 3rd quarter. State Street Corp now owns 14,125,599 shares of the company’s stock worth $346,783,000 after buying an additional 259,400 shares during the period. Wellington Management Group LLP grew its position in shares of Coupang by 43.2% during the 3rd quarter. Wellington Management Group LLP now owns 8,630,058 shares of the company’s stock worth $211,868,000 after buying an additional 2,603,046 shares during the period. Coronation Fund Managers Ltd. grew its position in shares of Coupang by 53.3% during the 4th quarter. Coronation Fund Managers Ltd. now owns 7,383,611 shares of the company’s stock worth $162,292,000 after buying an additional 2,566,581 shares during the period. Finally, Geode Capital Management LLC grew its position in shares of Coupang by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 5,885,243 shares of the company’s stock worth $144,483,000 after buying an additional 29,164 shares during the period. Institutional investors and hedge funds own 83.72% of the company’s stock.

Analyst Upgrades and Downgrades

CPNG has been the topic of a number of recent research reports. Citigroup cut their target price on Coupang from $31.00 to $28.00 and set a “buy” rating on the stock in a report on Wednesday, January 8th. Barclays increased their target price on Coupang from $32.00 to $34.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $27.78.

Insider Buying and Selling at Coupang

In other news, VP Pranam Kolari sold 8,459 shares of Coupang stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $22.98, for a total transaction of $194,387.82. Following 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 position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 13.60% of the company’s stock.

Coupang Price Performance

Shares of NYSE:CPNG opened at $25.48 on Thursday. The company has a current ratio of 1.13, a quick ratio of 0.86 and a debt-to-equity ratio of 0.28. The stock’s fifty day simple moving average is $23.07 and its two-hundred day simple moving average is $23.75. Coupang, Inc. has a 1-year low of $15.50 and a 1-year high of $26.91. The stock has a market cap of $45.84 billion, a PE ratio of 44.70, a price-to-earnings-growth ratio of 45.90 and a beta of 1.11.

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.