Convergence Investment Partners LLC Sells 5,866 Shares of Coupang, Inc. (NYSE:CPNG)

Convergence Investment Partners LLC trimmed its holdings in shares of Coupang, Inc. (NYSE:CPNG) by 47.3% during the fourth quarter, HoldingsChannel reports. 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 and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Assenagon Asset Management S.A. raised its stake in shares of Coupang by 85.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,100,183 shares of the company’s stock worth $24,182,000 after purchasing an additional 506,622 shares during the period. Elevate Capital Advisors LLC purchased a new stake in Coupang in the 4th quarter worth about $2,618,000. Charles Schwab Investment Management Inc. increased its holdings in Coupang by 22.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 759,286 shares of the company’s stock worth $18,640,000 after acquiring an additional 138,416 shares during the last quarter. abrdn plc increased its holdings in Coupang by 40.2% in the 3rd quarter. abrdn plc now owns 202,359 shares of the company’s stock worth $4,968,000 after acquiring an additional 58,060 shares during the last quarter. Finally, Plotkin Financial Advisors LLC purchased a new stake in Coupang in the 3rd quarter worth about $491,000. 83.72% of the stock is currently owned by institutional investors.

Insider Transactions at Coupang

In other news, VP Pranam Kolari sold 8,459 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $22.98, for a total transaction of $194,387.82. Following the completion of the transaction, the vice president now owns 136,806 shares of the company’s stock, valued at approximately $3,143,801.88. The trade was a 5.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 13.60% of the stock is owned by insiders.

Coupang Stock Down 0.1 %

CPNG stock opened at $25.48 on Thursday. The company has a quick ratio of 0.86, a current ratio of 1.13 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $45.84 billion, a PE ratio of 44.70, a PEG ratio of 45.90 and a beta of 1.11. Coupang, Inc. has a twelve month low of $15.50 and a twelve month high of $26.91. The stock has a 50-day simple moving average of $23.07 and a two-hundred day simple moving average of $23.75.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on CPNG shares. Citigroup decreased their price objective on Coupang from $31.00 to $28.00 and set a “buy” rating for the company in a report on Wednesday, January 8th. Barclays lifted their price objective on Coupang from $32.00 to $34.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, Coupang has an average rating of “Moderate Buy” and an average target price of $27.78.

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.