Greenland Capital Management LP Lowers Stock Holdings in Coupang, Inc. (NYSE:CPNG)

Greenland Capital Management LP cut its holdings in shares of Coupang, Inc. (NYSE:CPNG) by 75.2% during the fourth quarter, Holdings Channel reports. The firm owned 22,771 shares of the company’s stock after selling 68,920 shares during the quarter. Greenland Capital Management LP’s holdings in Coupang were worth $501,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Wingate Wealth Advisors Inc. acquired a new position in shares of Coupang in the fourth quarter valued at approximately $26,000. Berbice Capital Management LLC purchased a new position in Coupang in the 4th quarter valued at approximately $31,000. Allworth Financial LP grew its stake in shares of Coupang by 11,033.3% in the fourth quarter. Allworth Financial LP now owns 2,004 shares of the company’s stock worth $45,000 after acquiring an additional 1,986 shares in the last quarter. Signaturefd LLC increased its position in shares of Coupang by 34.7% during the fourth quarter. Signaturefd LLC now owns 3,193 shares of the company’s stock worth $70,000 after acquiring an additional 822 shares during the period. Finally, Atala Financial Inc acquired a new stake in shares of Coupang in the fourth quarter valued at $80,000. Institutional investors and hedge funds own 83.72% of the company’s stock.

Insider Buying and Selling at Coupang

In other news, VP Pranam Kolari sold 8,459 shares of the company’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 completion of the transaction, the vice president now owns 136,806 shares in the company, valued at approximately $3,143,801.88. This represents a 5.82 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Benjamin Sun sold 250,000 shares of Coupang stock in a transaction on Monday, March 17th. The stock was sold at an average price of $23.43, for a total transaction of $5,857,500.00. Following the sale, the director now owns 1,719,421 shares in the company, valued at $40,286,034.03. This represents a 12.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 13.60% of the stock is currently owned by insiders.

Coupang Price Performance

Shares of NYSE CPNG opened at $19.77 on Wednesday. The stock’s 50-day simple moving average is $23.27 and its 200-day simple moving average is $23.77. 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 firm has a market capitalization of $35.69 billion, a PE ratio of 34.68, a price-to-earnings-growth ratio of 52.20 and a beta of 1.09. Coupang, Inc. has a fifty-two week low of $18.16 and a fifty-two week high of $26.91.

Wall Street Analysts Forecast Growth

CPNG has been the subject of several analyst reports. Citigroup lowered their target price on Coupang from $31.00 to $28.00 and set a “buy” rating for the company in a research note on Wednesday, January 8th. Mizuho lifted their price objective on Coupang from $25.00 to $27.00 and gave the company a “neutral” rating in a research note on Wednesday, February 26th. Deutsche Bank Aktiengesellschaft upgraded shares of Coupang from a “hold” rating to a “buy” rating and set a $28.50 target price on the stock in a research note on Wednesday, February 26th. Finally, Barclays set a $35.00 price target on shares of Coupang and gave the stock an “overweight” rating in a research note on Thursday, February 27th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Coupang has an average rating of “Moderate Buy” and a consensus target price of $29.17.

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.