NewEdge Advisors LLC Sells 4,383 Shares of Coupang, Inc. (NYSE:CPNG)

NewEdge Advisors LLC lowered its holdings in shares of Coupang, Inc. (NYSE:CPNG) by 2.6% in the fourth quarter, HoldingsChannel reports. The firm owned 165,252 shares of the company’s stock after selling 4,383 shares during the period. NewEdge Advisors LLC’s holdings in Coupang were worth $3,632,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Advisory Resource Group lifted its stake in shares of Coupang by 1.9% during the 3rd quarter. Advisory Resource Group now owns 44,096 shares of the company’s stock worth $1,083,000 after buying an additional 823 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in Coupang during the third quarter worth approximately $1,094,000. Tidal Investments LLC bought a new stake in shares of Coupang during the third quarter worth approximately $5,646,000. Lord Abbett & CO. LLC grew its position in shares of Coupang by 269.3% in the third quarter. Lord Abbett & CO. LLC now owns 1,292,886 shares of the company’s stock valued at $31,740,000 after purchasing an additional 942,839 shares during the last quarter. Finally, Harbour Capital Advisors LLC increased its stake in shares of Coupang by 21.0% during the fourth quarter. Harbour Capital Advisors LLC now owns 28,650 shares of the company’s stock worth $642,000 after purchasing an additional 4,975 shares during the period. Institutional investors and hedge funds own 83.72% of the company’s stock.

Insiders Place Their Bets

In other Coupang news, VP Pranam Kolari sold 8,459 shares of the firm’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 value of $194,387.82. Following the sale, the vice president now owns 136,806 shares in the company, valued at $3,143,801.88. This trade represents a 5.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Benjamin Sun sold 250,000 shares of the company’s stock in a transaction on 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 owns 1,719,421 shares of the company’s stock, valued at $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. Corporate insiders own 13.60% of the company’s stock.

Coupang Stock Performance

Shares of Coupang stock opened at $21.38 on Monday. 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 $38.59 billion, a PE ratio of 37.50, a price-to-earnings-growth ratio of 52.20 and a beta of 1.09. The company has a 50 day moving average of $22.86 and a 200-day moving average of $23.57. Coupang, Inc. has a 1-year low of $18.16 and a 1-year high of $26.91.

Analysts Set New Price Targets

Several research firms recently issued reports on CPNG. Mizuho boosted their price target on Coupang from $25.00 to $27.00 and gave the company a “neutral” rating in a research note on Wednesday, February 26th. Deutsche Bank Aktiengesellschaft raised shares of Coupang from a “hold” rating to a “buy” rating and set a $28.50 target price for the company in a research report on Wednesday, February 26th. Citigroup lowered their price target on shares of Coupang from $31.00 to $28.00 and set a “buy” rating on the stock in a research report on Wednesday, January 8th. Finally, Barclays set a $35.00 price objective 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 company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $29.17.

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.