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

WCM Investment Management LLC reduced its stake in shares of Coupang, Inc. (NYSE:CPNG) by 4.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 49,608,511 shares of the company’s stock after selling 2,049,065 shares during the period. Coupang accounts for about 2.6% of WCM Investment Management LLC’s holdings, making the stock its 11th biggest position. WCM Investment Management LLC’s holdings in Coupang were worth $1,102,301,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently modified their holdings of the company. Brooklyn Investment Group acquired a new position in Coupang in the 3rd quarter valued at $28,000. Asset Dedication LLC raised its holdings in Coupang by 438.1% in the 3rd quarter. Asset Dedication LLC now owns 1,216 shares of the company’s stock valued at $30,000 after acquiring an additional 990 shares during the last quarter. Van ECK Associates Corp raised its holdings in Coupang by 63.1% in the 3rd quarter. Van ECK Associates Corp now owns 1,251 shares of the company’s stock valued at $32,000 after acquiring an additional 484 shares during the last quarter. Berbice Capital Management LLC acquired a new position in Coupang in the 4th quarter valued at $31,000. Finally, Wolff Wiese Magana LLC raised its holdings in Coupang by 330.4% in the 3rd quarter. Wolff Wiese Magana LLC now owns 1,687 shares of the company’s stock valued at $41,000 after acquiring an additional 1,295 shares during the last quarter. 83.72% of the stock is currently owned by institutional investors and hedge funds.

Coupang Trading Down 0.9 %

CPNG stock opened at $23.65 on Friday. The company has a market cap of $42.54 billion, a price-to-earnings ratio of 41.49, a PEG ratio of 43.21 and a beta of 1.11. 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 business has a fifty day simple moving average of $22.94 and a 200-day simple moving average of $23.50. Coupang, Inc. has a 52 week low of $14.10 and a 52 week high of $26.91.

Insider Transactions at Coupang

In related news, CEO Bom Kim sold 15,000,000 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $22.97, for a total transaction of $344,550,000.00. Following the completion of the sale, the chief executive officer now directly owns 2,000,000 shares of the company’s stock, valued at approximately $45,940,000. This represents a 88.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Pranam Kolari sold 8,459 shares of the company’s stock in a transaction on 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 approximately $3,143,801.88. This trade represents a 5.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 15,009,234 shares of company stock worth $344,761,515 in the last ninety days. Insiders own 13.60% of the company’s stock.

Analyst Ratings Changes

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

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.