Angeles Wealth Management LLC Boosts Stake in Coupang, Inc. (NYSE:CPNG)

Angeles Wealth Management LLC boosted its stake in shares of Coupang, Inc. (NYSE:CPNG) by 0.8% during the 4th quarter, Holdings Channel.com reports. The firm owned 55,074 shares of the company’s stock after buying an additional 459 shares during the quarter. Angeles Wealth Management LLC’s holdings in Coupang were worth $1,211,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Assenagon Asset Management S.A. lifted its position in shares of Coupang by 85.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,100,183 shares of the company’s stock valued at $24,182,000 after buying an additional 506,622 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Coupang by 22.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 759,286 shares of the company’s stock valued at $18,640,000 after purchasing an additional 138,416 shares in the last quarter. abrdn plc lifted its holdings in Coupang by 40.2% during the third quarter. abrdn plc now owns 202,359 shares of the company’s stock valued at $4,968,000 after purchasing an additional 58,060 shares in the last quarter. Plotkin Financial Advisors LLC bought a new position in shares of Coupang in the third quarter worth approximately $491,000. Finally, Coronation Fund Managers Ltd. increased its stake in shares of Coupang by 139.1% in the third quarter. Coronation Fund Managers Ltd. now owns 4,817,030 shares of the company’s stock worth $118,258,000 after purchasing an additional 2,802,325 shares in the last quarter. Institutional investors own 83.72% of the company’s stock.

Coupang Stock Performance

CPNG opened at $23.65 on Monday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.86 and a current ratio of 1.13. The stock has a market capitalization 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 fifty day moving average of $22.94 and a 200 day moving average of $23.53. Coupang, Inc. has a fifty-two week low of $14.10 and a fifty-two week high of $26.91.

Insider Buying and Selling

In related news, VP Pranam Kolari sold 8,459 shares of the business’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 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 13.60% of the stock is owned by company insiders.

Analyst Ratings Changes

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

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.