Connable Office Inc. Trims Position in Coupang, Inc. (NYSE:CPNG)

Connable Office Inc. lessened its holdings in shares of Coupang, Inc. (NYSE:CPNG) by 3.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 47,780 shares of the company’s stock after selling 1,557 shares during the quarter. Connable Office Inc.’s holdings in Coupang were worth $1,050,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. FMR LLC raised its position in shares of Coupang by 32.0% in 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 raised its position in shares of Coupang by 1.9% in 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 raised its position in shares of Coupang by 43.2% in 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. raised its position in shares of Coupang by 53.3% in 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 raised its position in shares of Coupang by 0.5% in 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. 83.72% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Barclays set a $35.00 price target on Coupang and gave the company an “overweight” rating in a report on Thursday. Deutsche Bank Aktiengesellschaft upgraded Coupang from a “hold” rating to a “buy” rating and set a $28.50 price target for the company in a report on Wednesday. Citigroup lowered their price target on Coupang from $31.00 to $28.00 and set a “buy” rating for the company in a report on Wednesday, January 8th. Finally, Mizuho increased their price target on Coupang from $25.00 to $27.00 and gave the company a “neutral” rating in a report on Wednesday. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $29.17.

Insider Activity

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 transaction, the vice president now directly owns 136,806 shares in the company, 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 13.60% of the company’s stock.

Coupang Stock Down 0.1 %

Shares of Coupang stock opened at $23.68 on Friday. The business has a 50-day moving average of $23.22 and a 200-day moving average of $23.87. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.13 and a quick ratio of 0.86. The company has a market capitalization of $42.59 billion, a PE ratio of 41.54, a P/E/G ratio of 52.20 and a beta of 1.11. Coupang, Inc. has a 1-year low of $17.34 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.