HighTower Advisors LLC Has $4.99 Million Stake in Coupang, Inc. (NYSE:CPNG)

HighTower Advisors LLC reduced its stake in Coupang, Inc. (NYSE:CPNG) by 0.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 227,164 shares of the company’s stock after selling 777 shares during the quarter. HighTower Advisors LLC’s holdings in Coupang were worth $4,993,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CPNG. FMR LLC lifted its holdings in shares of Coupang by 32.0% in the third quarter. FMR LLC now owns 27,153,608 shares of the company’s stock valued at $666,621,000 after purchasing an additional 6,584,910 shares in the last quarter. Wellington Management Group LLP lifted its stake in Coupang by 43.2% in the 3rd quarter. Wellington Management Group LLP now owns 8,630,058 shares of the company’s stock valued at $211,868,000 after acquiring an additional 2,603,046 shares in the last quarter. Coronation Fund Managers Ltd. boosted its position in 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 acquiring an additional 2,566,581 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its stake in shares of Coupang by 762.2% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 2,798,782 shares of the company’s stock worth $68,710,000 after acquiring an additional 2,474,175 shares in the last quarter. Finally, Ninety One UK Ltd acquired a new stake in shares of Coupang in the fourth quarter valued at approximately $46,388,000. 83.72% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CPNG. Deutsche Bank Aktiengesellschaft raised shares of Coupang from a “hold” rating to a “buy” rating and set a $28.50 target price for the company in a research report on Wednesday, February 26th. 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 set a $35.00 target price on Coupang and gave the stock an “overweight” rating in a report on Thursday, February 27th. Finally, Mizuho raised their price target on Coupang from $25.00 to $27.00 and gave the company a “neutral” rating in a research note on Wednesday, February 26th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, Coupang has a consensus rating of “Moderate Buy” and an average target price of $29.17.

Coupang Trading Up 3.0 %

Coupang stock opened at $23.54 on Thursday. The stock has a 50-day simple moving average of $23.34 and a 200 day simple moving average of $23.91. The stock has a market capitalization of $42.50 billion, a P/E ratio of 41.30, a PEG ratio of 52.20 and a beta of 1.10. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.86 and a current ratio of 1.13. Coupang, Inc. has a 52 week low of $17.34 and a 52 week high of $26.91.

Insider Activity

In other news, Director Benjamin Sun sold 250,000 shares of the firm’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $23.43, for a total transaction of $5,857,500.00. Following the completion of the sale, the director now owns 1,719,421 shares in the company, valued at approximately $40,286,034.03. This trade represents a 12.69 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, 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 transaction of $194,387.82. Following the sale, the vice president now directly owns 136,806 shares of the company’s stock, valued at $3,143,801.88. The trade was a 5.82 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 259,234 shares of company stock valued at $6,069,015 over the last three months. Insiders own 13.60% of the company’s stock.

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.