Bank of Nova Scotia Invests $725,000 in Coupang, Inc. (NYSE:CPNG)

Bank of Nova Scotia bought a new stake in shares of Coupang, Inc. (NYSE:CPNG - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 33,000 shares of the company's stock, valued at approximately $725,000.

Several other institutional investors and hedge funds have also bought and sold shares of CPNG. Wingate Wealth Advisors Inc. purchased a new position in shares of Coupang during the fourth quarter valued at approximately $26,000. Berbice Capital Management LLC bought a new stake in shares of Coupang during the fourth quarter valued at approximately $31,000. Allworth Financial LP boosted its stake in 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 purchasing an additional 1,986 shares during the last quarter. Signaturefd LLC boosted its position in shares of Coupang by 34.7% during the fourth quarter. Signaturefd LLC now owns 3,193 shares of the company's stock valued at $70,000 after buying an additional 822 shares during the last quarter. Finally, Atala Financial Inc bought a new stake in shares of Coupang in the fourth quarter worth approximately $80,000. 83.72% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Coupang news, VP Pranam Kolari sold 8,459 shares of the company'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 value of $194,387.82. Following the completion of the transaction, the vice president now directly owns 136,806 shares in the company, valued at $3,143,801.88. This represents a 5.82 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Benjamin Sun sold 250,000 shares of the business's stock in a transaction 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 completion of 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 position. The disclosure for this sale can be found here. 13.60% of the stock is currently owned by insiders.

Coupang Price Performance

Shares of CPNG traded up $0.15 during mid-day trading on Friday, reaching $21.38. The stock had a trading volume of 4,110,480 shares, compared to its average volume of 7,977,893. The firm has a market cap of $38.59 billion, a price-to-earnings ratio of 37.50, a PEG ratio of 52.20 and a beta of 1.09. Coupang, Inc. has a 12 month low of $18.16 and a 12 month high of $26.91. The business has a fifty day moving average of $22.91 and a 200 day moving average of $23.60. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.86 and a current ratio of 1.13.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Barclays set a $35.00 price objective on shares of Coupang and gave the company an "overweight" rating in a research report on Thursday, February 27th. Mizuho lifted their price objective 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 target price on the stock in a research report on Wednesday, February 26th. Finally, Citigroup reduced their price target on shares of Coupang from $31.00 to $28.00 and set a "buy" rating for the company in a research report on Wednesday, January 8th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Coupang currently has an average 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.