Commonwealth Equity Services LLC Lowers Position in Coupang, Inc. (NYSE:CPNG)

Commonwealth Equity Services LLC decreased its stake in Coupang, Inc. (NYSE:CPNG) by 1.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 85,195 shares of the company’s stock after selling 1,318 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Coupang were worth $1,873,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in CPNG. Wingate Wealth Advisors Inc. purchased a new stake in Coupang in the 4th quarter worth approximately $26,000. Brooklyn Investment Group purchased a new stake in shares of Coupang in the third quarter worth $28,000. Berbice Capital Management LLC bought a new stake in shares of Coupang during the 4th quarter valued at $31,000. Allworth Financial LP lifted its stake 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 valued at $45,000 after buying an additional 1,986 shares in the last quarter. Finally, SBI Securities Co. Ltd. bought a new position in Coupang in the 4th quarter worth $124,000. Institutional investors own 83.72% of the company’s stock.

Coupang Price Performance

Coupang stock opened at $22.32 on Friday. Coupang, Inc. has a 52-week low of $17.67 and a 52-week high of $26.91. The company has a quick ratio of 0.86, a current ratio of 1.13 and a debt-to-equity ratio of 0.28. The firm’s fifty day moving average is $23.52 and its 200 day moving average is $23.94. The company has a market cap of $40.29 billion, a price-to-earnings ratio of 39.15, a PEG ratio of 52.20 and a beta of 1.10.

Insider Activity

In related news, VP Pranam Kolari sold 8,459 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $22.98, for a total transaction of $194,387.82. Following the sale, the vice president now owns 136,806 shares in the company, valued at approximately $3,143,801.88. This represents a 5.82 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Benjamin Sun sold 250,000 shares of the firm’s stock in a transaction 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 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 ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 259,234 shares of company stock worth $6,069,015. 13.60% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have recently commented on CPNG. Citigroup lowered their price objective on Coupang from $31.00 to $28.00 and set a “buy” rating on the stock in a research report on Wednesday, January 8th. Mizuho upped their price target 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 upgraded shares of Coupang from a “hold” rating to a “buy” rating and set a $28.50 price objective on the stock in a research report 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 analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Coupang currently has a consensus rating of “Moderate Buy” and a consensus 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.