Proficio Capital Partners LLC Invests $854,000 in Coupang, Inc. (NYSE:CPNG)

Proficio Capital Partners LLC bought a new position in shares of Coupang, Inc. (NYSE:CPNG) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 38,839 shares of the company’s stock, valued at approximately $854,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Pacer Advisors Inc. increased its position in shares of Coupang by 4.1% during the fourth quarter. Pacer Advisors Inc. now owns 11,502 shares of the company’s stock worth $253,000 after purchasing an additional 452 shares in the last quarter. Angeles Wealth Management LLC grew its holdings in shares of Coupang by 0.8% during the fourth quarter. Angeles Wealth Management LLC now owns 55,074 shares of the company’s stock worth $1,211,000 after buying an additional 459 shares during the last quarter. IFP Advisors Inc grew its holdings in shares of Coupang by 3.8% during the fourth quarter. IFP Advisors Inc now owns 12,734 shares of the company’s stock worth $280,000 after buying an additional 469 shares during the last quarter. Ignite Planners LLC grew its holdings in shares of Coupang by 2.5% during the fourth quarter. Ignite Planners LLC now owns 20,162 shares of the company’s stock worth $452,000 after buying an additional 483 shares during the last quarter. Finally, Van ECK Associates Corp grew its holdings in shares of Coupang by 63.1% during the third quarter. Van ECK Associates Corp now owns 1,251 shares of the company’s stock worth $32,000 after buying an additional 484 shares during the last quarter. Institutional investors and hedge funds own 83.72% of the company’s stock.

Coupang Price Performance

Shares of CPNG opened at $22.73 on Friday. Coupang, Inc. has a twelve month low of $17.34 and a twelve month high of $26.91. The stock’s 50 day moving average is $23.28 and its two-hundred day moving average is $23.91. The firm has a market capitalization of $40.88 billion, a PE ratio of 39.87, a P/E/G ratio of 52.20 and a beta of 1.10. The company has a current ratio of 1.13, a quick ratio of 0.86 and a debt-to-equity ratio of 0.28.

Insider Transactions at Coupang

In other news, VP Pranam Kolari sold 8,459 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at $3,143,801.88. The trade was a 5.82 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 13.60% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on CPNG shares. Mizuho raised their price target on Coupang from $25.00 to $27.00 and gave the stock a “neutral” rating in a report on Wednesday, February 26th. Deutsche Bank Aktiengesellschaft raised Coupang from a “hold” rating to a “buy” rating and set a $28.50 price target on the stock in a report on Wednesday, February 26th. Barclays set a $35.00 price target on Coupang and gave the stock an “overweight” rating in a report on Thursday, February 27th. Finally, Citigroup lowered their price target on Coupang from $31.00 to $28.00 and set a “buy” rating on the stock in a report on Wednesday, January 8th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $29.17.

About Coupang

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.