CIBC Private Wealth Group LLC Sells 57,411 Shares of Coupang, Inc. (NYSE:CPNG)

CIBC Private Wealth Group LLC cut its holdings in Coupang, Inc. (NYSE:CPNG - Free Report) by 17.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 275,122 shares of the company's stock after selling 57,411 shares during the quarter. CIBC Private Wealth Group LLC's holdings in Coupang were worth $6,130,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Wingate Wealth Advisors Inc. acquired a new stake in shares of Coupang in the 4th quarter valued at approximately $26,000. Berbice Capital Management LLC bought a new position in shares of Coupang during the fourth quarter worth $31,000. Allworth Financial LP grew its holdings in shares of Coupang by 11,033.3% in the 4th quarter. Allworth Financial LP now owns 2,004 shares of the company's stock valued at $45,000 after buying an additional 1,986 shares during the period. Signaturefd LLC increased its position in shares of Coupang by 34.7% in the 4th quarter. Signaturefd LLC now owns 3,193 shares of the company's stock valued at $70,000 after buying an additional 822 shares in the last quarter. Finally, Atala Financial Inc acquired a new stake in Coupang during the 4th quarter worth $80,000. Institutional investors and hedge funds own 83.72% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Barclays set a $35.00 target price on Coupang and gave the company an "overweight" rating in a research note on Thursday, February 27th. Mizuho increased their target price on Coupang from $25.00 to $27.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 26th. Deutsche Bank Aktiengesellschaft raised shares of Coupang from a "hold" rating to a "buy" rating and set a $28.50 price target on the stock in a research note on Wednesday, February 26th. Finally, Citigroup lowered their price objective 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. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $29.17.

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Coupang Stock Down 6.6 %

CPNG stock traded down $1.42 during mid-day trading on Friday, reaching $20.05. The company had a trading volume of 13,872,084 shares, compared to its average volume of 8,415,604. The company has a market capitalization of $36.19 billion, a price-to-earnings ratio of 35.17, a PEG ratio of 52.20 and a beta of 1.09. Coupang, Inc. has a 52 week low of $18.16 and a 52 week high of $26.91. The stock has a 50 day simple moving average of $23.46 and a two-hundred day simple moving average of $23.87. 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 other Coupang news, Director Benjamin Sun sold 250,000 shares of the company's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $23.43, for a total value of $5,857,500.00. Following the sale, the director now owns 1,719,421 shares in the company, valued at $40,286,034.03. This represents a 12.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, 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 value of $194,387.82. Following the transaction, the vice president now directly owns 136,806 shares in the company, valued at $3,143,801.88. The trade was a 5.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 13.60% of the stock is currently owned by insiders.

Coupang 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.