Avantax Advisory Services Inc. Has $503,000 Holdings in Coupang, Inc. (NYSE:CPNG)

Avantax Advisory Services Inc. decreased its holdings in shares of Coupang, Inc. (NYSE:CPNG) by 1.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 22,882 shares of the company’s stock after selling 435 shares during the period. Avantax Advisory Services Inc.’s holdings in Coupang were worth $503,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in CPNG. Brooklyn Investment Group purchased a new stake in shares of Coupang in the third quarter valued at about $28,000. Wingate Wealth Advisors Inc. bought a new position in shares of Coupang in the fourth quarter valued at approximately $26,000. Berbice Capital Management LLC purchased a new stake in shares of Coupang during the fourth quarter valued at approximately $31,000. Allworth Financial LP increased its holdings in Coupang by 11,033.3% during the fourth 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 last quarter. Finally, SBI Securities Co. Ltd. bought a new stake in Coupang in the fourth quarter worth about $124,000. Institutional investors and hedge funds own 83.72% of the company’s stock.

Coupang Price Performance

NYSE:CPNG opened at $23.36 on Friday. The stock has a fifty day moving average of $23.40 and a 200 day moving average of $23.93. Coupang, Inc. has a 52-week low of $17.34 and a 52-week high of $26.91. The firm has a market capitalization of $42.17 billion, a price-to-earnings ratio of 40.97, a P/E/G ratio of 52.20 and a beta of 1.10. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.86 and a current ratio of 1.13.

Insider Transactions at Coupang

In other Coupang news, VP Pranam Kolari sold 8,459 shares of the stock in a transaction that occurred 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 $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 is available at this hyperlink. Also, Director Benjamin Sun sold 250,000 shares of Coupang stock in a transaction that occurred 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 directly owns 1,719,421 shares in the company, 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. Over the last 90 days, insiders sold 259,234 shares of company stock valued at $6,069,015. 13.60% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

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