WCM Investment Management LLC Lowers Holdings in Coupang, Inc. (NYSE:CPNG)

WCM Investment Management LLC trimmed its holdings in Coupang, Inc. (NYSE:CPNG) by 4.0% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 49,608,511 shares of the company’s stock after selling 2,049,065 shares during the period. Coupang makes up about 2.6% of WCM Investment Management LLC’s holdings, making the stock its 11th largest holding. WCM Investment Management LLC owned approximately 2.76% of Coupang worth $1,102,301,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the business. Empowered Funds LLC purchased a new position in Coupang in the fourth quarter worth approximately $772,000. Advisory Resource Group grew its position in Coupang by 5.1% in the fourth quarter. Advisory Resource Group now owns 46,354 shares of the company’s stock worth $1,019,000 after acquiring an additional 2,258 shares during the period. Lecap Asset Management Ltd. purchased a new position in Coupang in the fourth quarter worth approximately $2,115,000. Choreo LLC grew its position in Coupang by 6.3% in the fourth quarter. Choreo LLC now owns 212,149 shares of the company’s stock worth $4,714,000 after acquiring an additional 12,485 shares during the period. Finally, Deltec Asset Management LLC purchased a new position in shares of Coupang during the fourth quarter worth $253,000. 83.72% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Coupang

In other 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 transaction of $194,387.82. Following the sale, the vice president now owns 136,806 shares in the company, valued at approximately $3,143,801.88. The trade was 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. Also, Director Greenoaks Capital Partners Llc bought 687,700 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were purchased at an average price of $24.08 per share, for a total transaction of $16,559,816.00. Following the transaction, the director now directly owns 52,726,423 shares of the company’s stock, valued at approximately $1,269,652,265.84. This represents a 1.32 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold a total of 15,009,234 shares of company stock worth $344,761,515 over the last ninety days. Corporate insiders own 13.60% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Citigroup lowered their price target on Coupang from $31.00 to $28.00 and set a “buy” rating for the company in a research report on Wednesday, January 8th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $27.56.

Coupang Trading Down 0.9 %

NYSE:CPNG opened at $23.65 on Friday. The firm has a market cap of $42.54 billion, a PE ratio of 41.49, a price-to-earnings-growth ratio of 43.21 and a beta of 1.11. The stock has a fifty day moving average price of $22.94 and a 200 day moving average price of $23.50. Coupang, Inc. has a 12-month low of $14.10 and a 12-month 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.

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.