Neuberger Berman Group LLC Cuts Stake in Coupang, Inc. (NYSE:CPNG)

Neuberger Berman Group LLC decreased its stake in Coupang, Inc. (NYSE:CPNG) by 93.0% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 35,287 shares of the company’s stock after selling 471,915 shares during the quarter. Neuberger Berman Group LLC’s holdings in Coupang were worth $776,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Janus Henderson Group PLC boosted its holdings in Coupang by 2.2% in the 3rd quarter. Janus Henderson Group PLC now owns 34,598 shares of the company’s stock worth $850,000 after acquiring an additional 747 shares during the period. Orion Portfolio Solutions LLC raised its stake in shares of Coupang by 14.1% during the third quarter. Orion Portfolio Solutions LLC now owns 15,146 shares of the company’s stock valued at $372,000 after purchasing an additional 1,875 shares during the period. Geode Capital Management LLC raised 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 valued at $144,483,000 after purchasing an additional 29,164 shares during the period. Coldstream Capital Management Inc. boosted its stake in shares of Coupang by 10.1% in the third quarter. Coldstream Capital Management Inc. now owns 15,517 shares of the company’s stock valued at $382,000 after purchasing an additional 1,427 shares during the period. Finally, Advisory Resource Group grew its holdings in Coupang by 1.9% during the 3rd quarter. Advisory Resource Group now owns 44,096 shares of the company’s stock valued at $1,083,000 after purchasing an additional 823 shares in the last quarter. Institutional investors and hedge funds own 83.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Mizuho boosted their price objective on shares of Coupang from $25.00 to $27.00 and gave the stock a “neutral” rating in a report on Wednesday, February 26th. Deutsche Bank Aktiengesellschaft upgraded Coupang from a “hold” rating to a “buy” rating and set a $28.50 price target on the stock in a research note on Wednesday, February 26th. Barclays set a $35.00 price objective on Coupang and gave the company an “overweight” rating in a research note on Thursday, February 27th. Finally, Citigroup cut their target price on Coupang from $31.00 to $28.00 and set a “buy” rating on the stock in a research report 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.com, Coupang presently has an average rating of “Moderate Buy” and a consensus price target of $29.17.

Coupang Trading Up 3.2 %

Shares of NYSE CPNG opened at $21.68 on Friday. The company has a quick ratio of 0.86, a current ratio of 1.13 and a debt-to-equity ratio of 0.28. The stock’s 50 day moving average price is $23.10 and its two-hundred day moving average price is $23.69. Coupang, Inc. has a 52-week low of $18.16 and a 52-week high of $26.91. The stock has a market capitalization of $39.13 billion, a P/E ratio of 38.03, a PEG ratio of 52.20 and a beta of 1.09.

Insider Activity

In related news, Director Benjamin Sun sold 250,000 shares of the stock in a transaction dated Monday, March 17th. The shares were 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Pranam Kolari sold 8,459 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was 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 in the company, valued at $3,143,801.88. This represents a 5.82 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 13.60% of the company’s stock.

Coupang Company 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.