Commonwealth Equity Services LLC Reduces Stock Position in Coupang, Inc. (NYSE:CPNG)

Commonwealth Equity Services LLC decreased its holdings in Coupang, Inc. (NYSE:CPNG) by 1.5% during the fourth quarter, HoldingsChannel.com reports. The firm owned 85,195 shares of the company’s stock after selling 1,318 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Coupang were worth $1,873,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in CPNG. Pacer Advisors Inc. increased its stake in Coupang by 4.1% in the 4th quarter. Pacer Advisors Inc. now owns 11,502 shares of the company’s stock worth $253,000 after buying an additional 452 shares during the period. Angeles Wealth Management LLC increased its position in shares of Coupang by 0.8% during the fourth quarter. Angeles Wealth Management LLC now owns 55,074 shares of the company’s stock worth $1,211,000 after acquiring an additional 459 shares during the period. IFP Advisors Inc increased its position in shares of Coupang by 3.8% during the fourth quarter. IFP Advisors Inc now owns 12,734 shares of the company’s stock worth $280,000 after acquiring an additional 469 shares during the period. Ignite Planners LLC raised its stake in shares of Coupang by 2.5% during the fourth quarter. Ignite Planners LLC now owns 20,162 shares of the company’s stock valued at $452,000 after acquiring an additional 483 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its holdings in shares of Coupang by 2.2% in the third quarter. Janus Henderson Group PLC now owns 34,598 shares of the company’s stock valued at $850,000 after purchasing an additional 747 shares during the period. 83.72% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Citigroup decreased their target price on Coupang from $31.00 to $28.00 and set a “buy” rating for the company in a research report 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 report 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 report on Wednesday, February 26th. Finally, Barclays set a $35.00 price target on shares of Coupang and gave the company an “overweight” rating in a report on Thursday, February 27th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $29.17.

Coupang Stock Down 5.1 %

Shares of Coupang stock opened at $22.32 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 company has a market cap of $40.29 billion, a P/E ratio of 39.15, a PEG ratio of 52.20 and a beta of 1.10. The firm’s 50 day moving average price is $23.52 and its 200-day moving average price is $23.94. Coupang, Inc. has a 52-week low of $17.67 and a 52-week high of $26.91.

Insider Buying and Selling at Coupang

In related news, Director Benjamin Sun sold 250,000 shares of the company’s stock in a transaction dated 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 transaction, the director now directly owns 1,719,421 shares of the company’s stock, valued at $40,286,034.03. This represents a 12.69 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 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 value of $194,387.82. Following the completion of the sale, the vice president now directly owns 136,806 shares of the company’s stock, valued at approximately $3,143,801.88. This represents a 5.82 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 259,234 shares of company stock worth $6,069,015 over the last three months. Corporate insiders own 13.60% of the company’s stock.

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.