Victory Capital Management Inc. Sells 22,780 Shares of Coupang, Inc. (NYSE:CPNG)

Victory Capital Management Inc. lowered its holdings in shares of Coupang, Inc. (NYSE:CPNG) by 20.2% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 89,787 shares of the company’s stock after selling 22,780 shares during the period. Victory Capital Management Inc.’s holdings in Coupang were worth $1,974,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Wingate Wealth Advisors Inc. bought a new position in Coupang during the 4th quarter worth $26,000. Brooklyn Investment Group acquired a new stake in shares of Coupang in the third quarter valued at about $28,000. Berbice Capital Management LLC bought a new position in shares of Coupang during the fourth quarter worth about $31,000. Allworth Financial LP lifted its stake in shares of Coupang by 11,033.3% in the fourth quarter. Allworth Financial LP now owns 2,004 shares of the company’s stock worth $45,000 after acquiring an additional 1,986 shares during the period. Finally, SBI Securities Co. Ltd. bought a new stake in Coupang in the fourth quarter valued at approximately $124,000. Institutional investors and hedge funds own 83.72% of the company’s stock.

Wall Street Analyst Weigh In

CPNG has been the subject of several analyst reports. Barclays set a $35.00 price target on shares of 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 price objective for the company in a research report on Wednesday, February 26th. Citigroup dropped their target price on shares of Coupang from $31.00 to $28.00 and set a “buy” rating on the stock in a report on Wednesday, January 8th. Finally, Mizuho increased 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. 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, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $29.17.

Insider Activity

In other Coupang 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 completion of the sale, the vice president now owns 136,806 shares in the company, valued at approximately $3,143,801.88. The trade was a 5.82 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 13.60% of the stock is currently owned by company insiders.

Coupang Trading Up 4.6 %

CPNG opened at $23.54 on Tuesday. The company has a fifty day moving average price of $23.31 and a two-hundred day moving average price of $23.91. Coupang, Inc. has a 1-year low of $17.34 and a 1-year high of $26.91. The company has a market cap of $42.51 billion, a P/E ratio of 41.31, a price-to-earnings-growth 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.

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.