Angeles Wealth Management LLC Acquires 459 Shares of Coupang, Inc. (NYSE:CPNG)

Angeles Wealth Management LLC lifted its holdings in Coupang, Inc. (NYSE:CPNG) by 0.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 55,074 shares of the company’s stock after acquiring an additional 459 shares during the quarter. Angeles Wealth Management LLC’s holdings in Coupang were worth $1,211,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. FMR LLC lifted its holdings in Coupang by 32.0% in the 3rd quarter. FMR LLC now owns 27,153,608 shares of the company’s stock worth $666,621,000 after buying an additional 6,584,910 shares during the period. State Street Corp boosted its holdings in Coupang by 1.9% in the third quarter. State Street Corp now owns 14,125,599 shares of the company’s stock valued at $346,783,000 after acquiring an additional 259,400 shares in the last quarter. Wellington Management Group LLP increased its position in Coupang by 43.2% during the 3rd quarter. Wellington Management Group LLP now owns 8,630,058 shares of the company’s stock valued at $211,868,000 after purchasing an additional 2,603,046 shares during the period. Coronation Fund Managers Ltd. increased its position in Coupang by 53.3% during the 4th quarter. Coronation Fund Managers Ltd. now owns 7,383,611 shares of the company’s stock valued at $162,292,000 after purchasing an additional 2,566,581 shares during the period. Finally, Geode Capital Management LLC raised its holdings in Coupang by 0.5% in the 3rd 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 in the last quarter. Hedge funds and other institutional investors own 83.72% of the company’s stock.

Coupang Stock Performance

CPNG stock opened at $23.65 on Monday. The stock has a market capitalization of $42.54 billion, a PE ratio of 41.49, a price-to-earnings-growth ratio of 43.21 and a beta of 1.11. The stock’s 50 day simple moving average is $22.94 and its 200 day simple moving average is $23.53. Coupang, Inc. has a 12-month low of $14.10 and a 12-month 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.

Insider Activity

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

Wall Street Analysts Forecast Growth

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