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

NewEdge Advisors LLC lessened its stake in Coupang, Inc. (NYSE:CPNG) by 2.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 165,252 shares of the company’s stock after selling 4,383 shares during the quarter. NewEdge Advisors LLC’s holdings in Coupang were worth $3,632,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of CPNG. Wingate Wealth Advisors Inc. bought a new position in Coupang in the fourth quarter valued at about $26,000. Berbice Capital Management LLC bought a new position in shares of Coupang in the 4th quarter valued at about $31,000. Allworth Financial LP grew its position in shares of Coupang by 11,033.3% during the 4th quarter. Allworth Financial LP now owns 2,004 shares of the company’s stock worth $45,000 after buying an additional 1,986 shares during the period. Signaturefd LLC raised its stake in shares of Coupang by 34.7% during the fourth quarter. Signaturefd LLC now owns 3,193 shares of the company’s stock worth $70,000 after buying an additional 822 shares during the last quarter. Finally, Atala Financial Inc acquired a new position in Coupang in the fourth quarter valued at approximately $80,000. 83.72% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, VP Pranam Kolari sold 8,459 shares of Coupang stock in a transaction that occurred 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 sale, the vice president now 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Benjamin Sun sold 250,000 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $23.43, for a total value of $5,857,500.00. Following the transaction, the director now directly owns 1,719,421 shares of the company’s stock, valued at approximately $40,286,034.03. This trade represents a 12.69 % decrease in their position. The disclosure for this sale can be found here. 13.60% of the stock is currently owned by company insiders.

Coupang Stock Performance

Shares of CPNG stock opened at $21.38 on Monday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.86 and a current ratio of 1.13. Coupang, Inc. has a 52 week low of $18.16 and a 52 week high of $26.91. The company’s 50 day moving average price is $22.86 and its two-hundred day moving average price is $23.57. The company has a market capitalization of $38.59 billion, a P/E ratio of 37.50, a price-to-earnings-growth ratio of 52.20 and a beta of 1.09.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Citigroup lowered their target price on shares of Coupang from $31.00 to $28.00 and set a “buy” rating for the company in a report on Wednesday, January 8th. Mizuho lifted their price objective on Coupang from $25.00 to $27.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 26th. Deutsche Bank Aktiengesellschaft raised Coupang from a “hold” rating to a “buy” rating and set a $28.50 target price on the stock in a research note on Wednesday, February 26th. Finally, Barclays set a $35.00 target price on Coupang and gave the stock 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 assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $29.17.

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.