Quaker Capital Investments LLC Trims Holdings in Coupang, Inc. (NYSE:CPNG)

Quaker Capital Investments LLC cut its holdings in Coupang, Inc. (NYSE:CPNG) by 26.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 937,619 shares of the company’s stock after selling 337,699 shares during the period. Coupang makes up 7.7% of Quaker Capital Investments LLC’s portfolio, making the stock its 7th largest position. Quaker Capital Investments LLC owned 0.05% of Coupang worth $20,609,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Wingate Wealth Advisors Inc. bought a new position in shares of Coupang in the fourth quarter worth approximately $26,000. Berbice Capital Management LLC bought a new stake in Coupang in the 4th quarter worth $31,000. Allworth Financial LP increased its position 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 valued at $45,000 after acquiring an additional 1,986 shares during the period. Signaturefd LLC increased its position in shares of Coupang by 34.7% in the fourth quarter. Signaturefd LLC now owns 3,193 shares of the company’s stock valued at $70,000 after acquiring an additional 822 shares during the period. Finally, Atala Financial Inc bought a new position in shares of Coupang during the fourth quarter valued at about $80,000. 83.72% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft raised 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. Citigroup reduced their target price on Coupang from $31.00 to $28.00 and set a “buy” rating on the stock in a research note on Wednesday, January 8th. Mizuho raised their price target on Coupang from $25.00 to $27.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 26th. Finally, Barclays set a $35.00 price objective on shares of Coupang and gave the stock an “overweight” rating in a report on Thursday, February 27th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $29.17.

Insider Buying and Selling

In other Coupang news, VP Pranam Kolari sold 8,459 shares of Coupang stock in a transaction that occurred 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 sale, the vice president now owns 136,806 shares of the company’s stock, valued at approximately $3,143,801.88. The trade was a 5.82 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Benjamin Sun sold 250,000 shares of the firm’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $23.43, for a total value of $5,857,500.00. Following the completion of the transaction, the director now owns 1,719,421 shares in the company, valued at approximately $40,286,034.03. This trade 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 owned by corporate insiders.

Coupang Stock Performance

Shares of CPNG opened at $21.68 on Monday. Coupang, Inc. has a 12 month low of $18.16 and a 12 month high of $26.91. The business’s fifty day simple moving average is $23.10 and its two-hundred day simple moving average is $23.68. 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 company has a market cap of $39.13 billion, a price-to-earnings ratio of 38.03, a P/E/G ratio of 52.20 and a beta of 1.09.

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.