Coupang, Inc. (NYSE:CPNG) Shares Bought by Congress Wealth Management LLC DE

Congress Wealth Management LLC DE raised its holdings in shares of Coupang, Inc. (NYSE:CPNG - Free Report) by 97.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 49,698 shares of the company's stock after buying an additional 24,554 shares during the period. Congress Wealth Management LLC DE's holdings in Coupang were worth $1,092,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Wingate Wealth Advisors Inc. bought a new position in shares of Coupang in the fourth quarter worth about $26,000. Brooklyn Investment Group bought a new stake in shares of Coupang in the third quarter worth about $28,000. Berbice Capital Management LLC purchased a new stake in shares of Coupang in the fourth quarter worth about $31,000. Allworth Financial LP boosted its stake in Coupang by 11,033.3% during the fourth 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 last quarter. Finally, Signaturefd LLC increased its stake in Coupang by 34.7% in the 4th quarter. Signaturefd LLC now owns 3,193 shares of the company's stock worth $70,000 after acquiring an additional 822 shares during the last quarter. 83.72% of the stock is owned by hedge funds and other institutional investors.

Coupang Stock Up 1.2 %

NYSE CPNG traded up $0.27 during trading on Tuesday, reaching $22.20. 6,656,621 shares of the company's stock traded hands, compared to its average volume of 8,428,041. Coupang, Inc. has a 12-month low of $17.67 and a 12-month 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. The firm has a market cap of $40.07 billion, a price-to-earnings ratio of 38.94, a price-to-earnings-growth ratio of 52.20 and a beta of 1.10. The company's 50 day simple moving average is $23.51 and its two-hundred day simple moving average is $23.92.

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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 stock was sold at an average price of $22.98, for a total transaction of $194,387.82. Following the sale, the vice president now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Benjamin Sun sold 250,000 shares of the business's stock in a transaction dated 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 owns 1,719,421 shares of the company's stock, valued at $40,286,034.03. This represents a 12.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 259,234 shares of company stock worth $6,069,015. Corporate insiders own 13.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on CPNG shares. Deutsche Bank Aktiengesellschaft raised Coupang from a "hold" rating to a "buy" rating and set a $28.50 price objective on the stock in a report on Wednesday, February 26th. 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. 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. Finally, Citigroup reduced their target price on shares of Coupang from $31.00 to $28.00 and set a "buy" rating on the stock in a research report on Wednesday, January 8th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, Coupang presently has an average rating of "Moderate Buy" and an average target price of $29.17.

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.