CIBC Asset Management Inc Has $1.35 Million Holdings in Coupang, Inc. (NYSE:CPNG)

CIBC Asset Management Inc lifted its position in shares of Coupang, Inc. (NYSE:CPNG) by 12.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 61,305 shares of the company’s stock after purchasing an additional 6,596 shares during the quarter. CIBC Asset Management Inc’s holdings in Coupang were worth $1,347,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the company. Pacer Advisors Inc. grew its holdings in shares of Coupang by 4.1% during the 4th quarter. Pacer Advisors Inc. now owns 11,502 shares of the company’s stock worth $253,000 after purchasing an additional 452 shares in the last quarter. Angeles Wealth Management LLC grew its holdings in shares of Coupang by 0.8% during the 4th quarter. Angeles Wealth Management LLC now owns 55,074 shares of the company’s stock worth $1,211,000 after purchasing an additional 459 shares in the last quarter. Ignite Planners LLC grew its holdings in shares of Coupang by 2.5% during the 4th quarter. Ignite Planners LLC now owns 20,162 shares of the company’s stock worth $452,000 after purchasing an additional 483 shares in the last quarter. Van ECK Associates Corp grew its holdings in shares of Coupang by 63.1% during the 3rd quarter. Van ECK Associates Corp now owns 1,251 shares of the company’s stock worth $32,000 after purchasing an additional 484 shares in the last quarter. Finally, Covestor Ltd grew its holdings in shares of Coupang by 10.4% during the 3rd quarter. Covestor Ltd now owns 6,479 shares of the company’s stock worth $159,000 after purchasing an additional 612 shares in the last quarter. Institutional investors and hedge funds own 83.72% of the company’s stock.

Coupang Trading Down 1.3 %

Shares of CPNG opened at $24.80 on Friday. The stock has a fifty day moving average price of $23.10 and a two-hundred day moving average price of $23.82. 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 $15.81 and a 52-week high of $26.91. The company has a market cap of $44.60 billion, a price-to-earnings ratio of 43.50, a PEG ratio of 52.20 and a beta of 1.11.

Insider Buying and Selling at Coupang

In other Coupang news, VP Pranam Kolari sold 8,459 shares of Coupang stock in a transaction on 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 owns 136,806 shares in the company, valued at approximately $3,143,801.88. The trade was a 5.82 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 13.60% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on CPNG shares. 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. Citigroup cut their target price 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 analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $27.78.

About Coupang

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.