Congress Wealth Management LLC DE Has $1.09 Million Stake in Coupang, Inc. (NYSE:CPNG)

Congress Wealth Management LLC DE boosted its holdings in shares of Coupang, Inc. (NYSE:CPNG) by 97.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,698 shares of the company’s stock after buying an additional 24,554 shares during the period. Congress Wealth Management LLC DE’s holdings in Coupang were worth $1,092,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of CPNG. Assenagon Asset Management S.A. boosted its position in shares of Coupang by 85.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,100,183 shares of the company’s stock valued at $24,182,000 after acquiring an additional 506,622 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Coupang by 23.4% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 218,100 shares of the company’s stock valued at $4,861,000 after purchasing an additional 41,384 shares in the last quarter. Elevate Capital Advisors LLC bought a new stake in shares of Coupang in the 4th quarter valued at approximately $2,618,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Coupang by 22.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 759,286 shares of the company’s stock worth $18,640,000 after buying an additional 138,416 shares in the last quarter. Finally, Plotkin Financial Advisors LLC bought a new position in shares of Coupang during the 3rd quarter worth approximately $491,000. Institutional investors own 83.72% of the company’s stock.

Coupang Stock Performance

Shares of Coupang stock opened at $23.51 on Friday. The firm has a 50 day simple moving average of $23.51 and a 200 day simple moving average of $23.94. Coupang, Inc. has a fifty-two week low of $17.55 and a fifty-two week high of $26.91. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.13 and a quick ratio of 0.86. The firm has a market cap 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.

Insider Activity

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 transaction, the vice president now directly owns 136,806 shares of the company’s stock, valued at approximately $3,143,801.88. This trade represents a 5.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 transaction of $5,857,500.00. Following the sale, the director now owns 1,719,421 shares of the company’s stock, valued at $40,286,034.03. The trade was a 12.69 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 259,234 shares of company stock valued at $6,069,015. Company insiders own 13.60% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on CPNG. Citigroup dropped their price objective on Coupang from $31.00 to $28.00 and set a “buy” rating for the company in a research note on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft raised shares of Coupang from a “hold” rating to a “buy” rating and set a $28.50 price target for the company in a report on Wednesday, February 26th. Mizuho upped their price objective on shares of Coupang from $25.00 to $27.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 26th. Finally, Barclays set a $35.00 target price on shares of Coupang and gave the company an “overweight” rating in a research note on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price 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.