Harbert Fund Advisors Inc. Takes $769,000 Position in Coupang, Inc. (NYSE:CPNG)

Harbert Fund Advisors Inc. acquired a new position in shares of Coupang, Inc. (NYSE:CPNG - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 35,000 shares of the company's stock, valued at approximately $769,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Wingate Wealth Advisors Inc. bought a new stake in Coupang in the 4th quarter worth $26,000. Berbice Capital Management LLC bought a new position in Coupang during the 4th quarter valued at about $31,000. Allworth Financial LP grew its position 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 period. Signaturefd LLC increased its holdings 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 in the last quarter. Finally, Atala Financial Inc purchased a new stake in shares of Coupang during the fourth quarter worth about $80,000. 83.72% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on CPNG shares. Citigroup decreased their price objective on Coupang from $31.00 to $28.00 and set a "buy" rating on the stock in a research report on Wednesday, January 8th. Barclays set a $35.00 target price on Coupang and gave the company an "overweight" rating in a research report on Thursday, February 27th. 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 report on Wednesday, February 26th. Finally, Mizuho boosted their price objective on Coupang from $25.00 to $27.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 26th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Coupang has an average rating of "Moderate Buy" and an average target price of $29.17.

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Coupang Price Performance

Shares of NYSE:CPNG traded up $0.02 during trading on Wednesday, reaching $21.50. The company had a trading volume of 1,351,719 shares, compared to its average volume of 8,102,249. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.86 and a current ratio of 1.13. The firm's fifty day moving average is $23.01 and its 200 day moving average is $23.64. Coupang, Inc. has a twelve month low of $18.16 and a twelve month high of $26.91. The firm has a market capitalization of $38.82 billion, a PE ratio of 37.72, a price-to-earnings-growth ratio of 52.20 and a beta of 1.09.

Insider Buying and Selling

In other news, VP Pranam Kolari sold 8,459 shares of the 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 owns 136,806 shares in the company, valued at approximately $3,143,801.88. This represents a 5.82 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Benjamin Sun sold 250,000 shares of Coupang stock in a transaction that occurred on Monday, March 17th. The shares were 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 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 corporate 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.