Bryce Point Capital LLC Acquires New Position in Coupang, Inc. (NYSE:CPNG)

Bryce Point Capital LLC acquired a new stake in Coupang, Inc. (NYSE:CPNG - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 24,256 shares of the company's stock, valued at approximately $533,000.

A number of other hedge funds and other institutional investors have also modified their holdings of CPNG. Wingate Wealth Advisors Inc. purchased a new position in Coupang in the fourth quarter valued at $26,000. Berbice Capital Management LLC purchased a new position in shares of Coupang in the 4th quarter valued at about $31,000. Allworth Financial LP raised its position 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 worth $45,000 after acquiring an additional 1,986 shares in the last quarter. Signaturefd LLC lifted its stake in Coupang by 34.7% during the fourth quarter. Signaturefd LLC now owns 3,193 shares of the company's stock worth $70,000 after purchasing an additional 822 shares during the last quarter. Finally, Atala Financial Inc acquired a new position in Coupang in the fourth quarter valued at approximately $80,000. 83.72% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Coupang

In other news, VP Pranam Kolari sold 8,459 shares of the company's stock in a transaction on Monday, February 3rd. The shares were 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 approximately $3,143,801.88. This represents a 5.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Benjamin Sun sold 250,000 shares of Coupang 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 sale, 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. Company insiders own 13.60% of the company's stock.

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Analyst Upgrades and Downgrades

Several analysts have recently weighed in on CPNG shares. Mizuho boosted their price objective on shares of Coupang from $25.00 to $27.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 26th. Deutsche Bank Aktiengesellschaft raised shares of Coupang from a "hold" rating to a "buy" rating and set a $28.50 target price for the company in a report on Wednesday, February 26th. Barclays set a $35.00 price objective on Coupang and gave the stock an "overweight" rating in a research report on Thursday, February 27th. Finally, Citigroup reduced their price target on Coupang from $31.00 to $28.00 and set a "buy" rating on the stock in a research note on Wednesday, January 8th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $29.17.

Coupang Trading Up 9.9 %

CPNG stock traded up $1.96 during midday trading on Wednesday, reaching $21.78. 17,486,565 shares of the company's stock traded hands, compared to its average volume of 8,435,323. Coupang, Inc. has a fifty-two week low of $18.16 and a fifty-two week high of $26.91. The business has a 50-day moving average price of $23.19 and a two-hundred day moving average price of $23.74. The company has a market capitalization of $39.31 billion, a P/E ratio of 38.20, a PEG ratio of 52.20 and a beta of 1.09. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.13 and a quick ratio of 0.86.

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.