Cerity Partners LLC Has $512,000 Stock Holdings in Coupang, Inc. (NYSE:CPNG)

Cerity Partners LLC raised its position in Coupang, Inc. (NYSE:CPNG) by 7.7% during the fourth quarter, Holdings Channel reports. The institutional investor owned 21,507 shares of the company’s stock after buying an additional 1,538 shares during the quarter. Cerity Partners LLC’s holdings in Coupang were worth $512,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in CPNG. FMR LLC boosted its stake in Coupang by 9.1% in the fourth quarter. FMR LLC now owns 29,619,581 shares of the company’s stock valued at $651,038,000 after acquiring an additional 2,465,973 shares during the last quarter. Norges Bank acquired a new stake in shares of Coupang during the fourth quarter worth $404,896,000. Coronation Fund Managers Ltd. grew its stake in shares of Coupang by 53.3% during the fourth quarter. Coronation Fund Managers Ltd. now owns 7,383,611 shares of the company’s stock worth $162,292,000 after purchasing an additional 2,566,581 shares during the period. Geode Capital Management LLC increased its holdings in Coupang by 4.1% in the fourth quarter. Geode Capital Management LLC now owns 6,126,268 shares of the company’s stock valued at $134,655,000 after purchasing an additional 241,025 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in Coupang by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 5,366,214 shares of the company’s stock valued at $117,949,000 after buying an additional 54,364 shares during the period. 83.72% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Barclays set a $35.00 price target on Coupang and gave the company an “overweight” rating in a research note on Thursday, February 27th. Mizuho upped their target price on shares of Coupang from $25.00 to $27.00 and gave the company a “neutral” rating in a research note on Wednesday, February 26th. Citigroup reduced their price target 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. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Coupang from a “hold” rating to a “buy” rating and set a $28.50 price objective for the company in a research report on Wednesday, February 26th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Coupang currently has an average rating of “Moderate Buy” and an average price target of $29.17.

Coupang Price Performance

CPNG stock opened at $21.15 on Tuesday. The stock has a market cap of $38.19 billion, a PE ratio of 37.11, a price-to-earnings-growth ratio of 52.20 and a beta of 1.09. The stock has a 50-day moving average price of $22.81 and a two-hundred day moving average price of $23.55. Coupang, Inc. has a 1 year low of $18.16 and a 1 year high of $26.91. The company has a current ratio of 1.13, a quick ratio of 0.86 and a debt-to-equity ratio of 0.28.

Insider Buying and Selling

In related news, VP Pranam Kolari sold 8,459 shares of the firm’s stock in a transaction on Monday, February 3rd. The shares were 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 owns 136,806 shares of the company’s stock, 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 hyperlink. Also, Director Benjamin Sun sold 250,000 shares of the business’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $23.43, for a total transaction of $5,857,500.00. Following the sale, the director now directly owns 1,719,421 shares in the company, valued at $40,286,034.03. This trade represents a 12.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 13.60% of the stock is owned by corporate insiders.

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.