Coupang, Inc. (NYSE:CPNG) Stake Boosted by Corient Private Wealth LLC

Corient Private Wealth LLC increased its stake in Coupang, Inc. (NYSE:CPNG) by 20.6% during the 4th quarter, HoldingsChannel reports. The firm owned 33,655 shares of the company’s stock after acquiring an additional 5,746 shares during the period. Corient Private Wealth LLC’s holdings in Coupang were worth $740,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Wingate Wealth Advisors Inc. bought a new stake in Coupang in the fourth quarter valued at $26,000. Brooklyn Investment Group bought a new stake in Coupang in the 3rd quarter valued at about $28,000. Berbice Capital Management LLC acquired a new position in Coupang during the 4th quarter valued at about $31,000. Allworth Financial LP grew its position in Coupang by 11,033.3% in the 4th quarter. Allworth Financial LP now owns 2,004 shares of the company’s stock worth $45,000 after purchasing an additional 1,986 shares during the last quarter. Finally, Atala Financial Inc acquired a new stake in shares of Coupang in the fourth quarter valued at approximately $80,000. Institutional investors and hedge funds own 83.72% of the company’s stock.

Coupang Trading Down 0.3 %

Shares of CPNG stock opened at $23.51 on Friday. The stock has a 50-day simple moving average of $23.51 and a 200 day simple moving average of $23.94. The stock has a market capitalization of $42.44 billion, a P/E ratio of 41.24, a P/E/G ratio of 52.20 and a beta of 1.10. Coupang, Inc. has a fifty-two week low of $17.55 and a fifty-two week high of $26.91. The company has a quick ratio of 0.86, a current ratio of 1.13 and a debt-to-equity ratio of 0.28.

Analyst Upgrades and Downgrades

CPNG has been the subject of several analyst reports. Citigroup reduced their price objective 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 boosted their price target on Coupang from $25.00 to $27.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 26th. Deutsche Bank Aktiengesellschaft raised Coupang from a “hold” rating to a “buy” rating and set a $28.50 price target on the stock in a report 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 research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $29.17.

Insider Buying and Selling at Coupang

In related news, VP Pranam Kolari sold 8,459 shares of Coupang stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $22.98, for a total value of $194,387.82. Following the transaction, the vice president now directly owns 136,806 shares in the company, valued at $3,143,801.88. The trade was a 5.82 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Benjamin Sun sold 250,000 shares of the company’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $23.43, for a total value of $5,857,500.00. Following the sale, the director now directly owns 1,719,421 shares of the company’s stock, valued at approximately $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. In the last three months, insiders sold 259,234 shares of company stock valued at $6,069,015. 13.60% of the stock is owned by insiders.

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.