Wedbush Securities Inc. Purchases New Position in Coupang, Inc. (NYSE:CPNG)

Wedbush Securities Inc. acquired a new position in shares of Coupang, Inc. (NYSE:CPNG) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 9,400 shares of the company’s stock, valued at approximately $207,000.

A number of other institutional investors have also recently bought and sold shares of the company. Janus Henderson Group PLC boosted its position in shares of Coupang by 2.2% during the third quarter. Janus Henderson Group PLC now owns 34,598 shares of the company’s stock worth $850,000 after purchasing an additional 747 shares in the last quarter. Orion Portfolio Solutions LLC raised its stake in Coupang by 14.1% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 15,146 shares of the company’s stock worth $372,000 after buying an additional 1,875 shares during the period. Geode Capital Management LLC lifted its holdings in Coupang by 0.5% during the third quarter. Geode Capital Management LLC now owns 5,885,243 shares of the company’s stock worth $144,483,000 after acquiring an additional 29,164 shares in the last quarter. Coldstream Capital Management Inc. grew its stake in 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 acquiring an additional 1,427 shares during the period. Finally, Advisory Resource Group increased its holdings in shares of Coupang by 1.9% in the third quarter. Advisory Resource Group now owns 44,096 shares of the company’s stock worth $1,083,000 after acquiring an additional 823 shares in the last quarter. Institutional investors and hedge funds own 83.72% of the company’s stock.

Insider Activity

In related news, VP Pranam Kolari sold 8,459 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $22.98, for a total transaction of $194,387.82. Following the transaction, the vice president now directly owns 136,806 shares in the company, valued at approximately $3,143,801.88. The trade was a 5.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Benjamin Sun sold 250,000 shares of the 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 completion of the sale, the director now 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 position. The disclosure for this sale can be found here. 13.60% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

CPNG has been the topic of several recent analyst reports. 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. Citigroup cut their price target on shares of Coupang from $31.00 to $28.00 and set a “buy” rating on the stock 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 objective for the company in a research report on Wednesday, February 26th. Finally, Barclays set a $35.00 price objective on shares of Coupang and gave the company an “overweight” rating in a research 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. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $29.17.

Coupang Stock Down 3.9 %

Coupang stock opened at $21.00 on Friday. The company has a current ratio of 1.13, a quick ratio of 0.86 and a debt-to-equity ratio of 0.28. Coupang, Inc. has a 1-year low of $18.16 and a 1-year high of $26.91. The company has a fifty day simple moving average of $23.14 and a 200 day simple moving average of $23.71. The company has a market cap of $37.91 billion, a P/E ratio of 36.83, a price-to-earnings-growth ratio of 52.20 and a beta of 1.09.

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.