Elevate Capital Advisors LLC Makes New $2.62 Million Investment in Coupang, Inc. (NYSE:CPNG)

Elevate Capital Advisors LLC purchased a new position in shares of Coupang, Inc. (NYSE:CPNG - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 119,102 shares of the company's stock, valued at approximately $2,618,000. Coupang makes up 2.3% of Elevate Capital Advisors LLC's portfolio, making the stock its 11th largest position.

Other large investors have also made changes to their positions in the company. Pacer Advisors Inc. raised its stake in shares of Coupang by 4.1% during the fourth quarter. Pacer Advisors Inc. now owns 11,502 shares of the company's stock valued at $253,000 after acquiring an additional 452 shares during the last quarter. Angeles Wealth Management LLC raised its stake 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 valued at $1,211,000 after acquiring an additional 459 shares during the last quarter. Ignite Planners LLC raised its stake in shares of Coupang by 2.5% during the fourth quarter. Ignite Planners LLC now owns 20,162 shares of the company's stock valued at $452,000 after acquiring an additional 483 shares during the last quarter. Van ECK Associates Corp raised its stake 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 valued at $32,000 after acquiring an additional 484 shares during the last quarter. Finally, Covestor Ltd raised its stake in Coupang by 10.4% during the third quarter. Covestor Ltd now owns 6,479 shares of the company's stock worth $159,000 after buying an additional 612 shares during the last quarter. Institutional investors and hedge funds own 83.72% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in 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 research note on Wednesday, January 8th. Barclays raised their price target on shares of Coupang from $32.00 to $34.00 and gave the stock an "overweight" rating in a report on Wednesday. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $27.78.

Coupang Stock Up 5.7 %

Shares of NYSE CPNG traded up $1.34 during mid-day trading on Thursday, reaching $24.97. 18,200,584 shares of the company's stock traded hands, compared to its average volume of 7,425,001. The stock has a market cap of $44.92 billion, a P/E ratio of 43.81, a PEG ratio of 43.21 and a beta of 1.11. The business has a 50-day simple moving average of $22.93 and a 200 day simple moving average of $23.59. Coupang, Inc. has a 1-year low of $14.74 and a 1-year high of $26.91. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.13 and a quick ratio of 0.86.

Insider Activity

In related news, VP Pranam Kolari sold 8,459 shares of the firm's stock in a transaction dated 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 of the company's stock, valued at $3,143,801.88. This trade represents a 5.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 13.60% of the company's stock.

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.