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

CIBC Asset Management Inc grew its position in Coupang, Inc. (NYSE:CPNG) by 12.1% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 61,305 shares of the company’s stock after buying an additional 6,596 shares during the period. CIBC Asset Management Inc’s holdings in Coupang were worth $1,347,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. FMR LLC increased its stake in shares of Coupang by 32.0% in the 3rd quarter. FMR LLC now owns 27,153,608 shares of the company’s stock valued at $666,621,000 after buying an additional 6,584,910 shares during the period. State Street Corp increased its stake in shares of Coupang by 1.9% in the 3rd quarter. State Street Corp now owns 14,125,599 shares of the company’s stock valued at $346,783,000 after buying an additional 259,400 shares during the period. Wellington Management Group LLP grew its stake in shares of Coupang by 43.2% during the third quarter. Wellington Management Group LLP now owns 8,630,058 shares of the company’s stock worth $211,868,000 after purchasing an additional 2,603,046 shares during the period. 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. Finally, Geode Capital Management LLC grew its stake in shares of Coupang by 0.5% during the third quarter. Geode Capital Management LLC now owns 5,885,243 shares of the company’s stock worth $144,483,000 after purchasing an additional 29,164 shares during the period. 83.72% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CPNG. Citigroup decreased their price objective on Coupang from $31.00 to $28.00 and set a “buy” rating for the company in a research note on Wednesday, January 8th. Barclays lifted their price objective on Coupang from $32.00 to $34.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $27.78.

Insider Buying and Selling at Coupang

In other news, VP Pranam Kolari sold 8,459 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $22.98, for a total value of $194,387.82. Following the sale, the vice president now directly owns 136,806 shares in the company, valued at $3,143,801.88. The trade was a 5.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 13.60% of the company’s stock.

Coupang Stock Down 1.3 %

NYSE:CPNG opened at $24.80 on Friday. Coupang, Inc. has a 1 year low of $15.81 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. The stock 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. The stock has a 50-day moving average price of $23.10 and a two-hundred day moving average price of $23.82.

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.