Coupang, Inc. (NYSE:CPNG) Stock Position Lowered by Parallel Advisors LLC

Parallel Advisors LLC cut its holdings in shares of Coupang, Inc. (NYSE:CPNG - Free Report) by 5.1% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 413,012 shares of the company's stock after selling 22,066 shares during the quarter. Parallel Advisors LLC's holdings in Coupang were worth $9,078,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Pacer Advisors Inc. increased its holdings in Coupang by 4.1% during the 4th quarter. Pacer Advisors Inc. now owns 11,502 shares of the company's stock worth $253,000 after purchasing an additional 452 shares during the last quarter. Angeles Wealth Management LLC increased its holdings in Coupang by 0.8% during the 4th quarter. Angeles Wealth Management LLC now owns 55,074 shares of the company's stock worth $1,211,000 after purchasing an additional 459 shares during the last quarter. IFP Advisors Inc increased its holdings in Coupang by 3.8% during the 4th quarter. IFP Advisors Inc now owns 12,734 shares of the company's stock worth $280,000 after purchasing an additional 469 shares during the last quarter. Ignite Planners LLC increased its holdings in Coupang by 2.5% during the 4th quarter. Ignite Planners LLC now owns 20,162 shares of the company's stock worth $452,000 after purchasing an additional 483 shares during the last quarter. Finally, Janus Henderson Group PLC grew its position in shares of Coupang by 2.2% in the 3rd quarter. Janus Henderson Group PLC now owns 34,598 shares of the company's stock worth $850,000 after acquiring an additional 747 shares in the last quarter. 83.72% of the stock is currently owned by hedge funds and other institutional investors.

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Coupang Stock Performance

NYSE:CPNG traded down $0.21 during midday trading on Thursday, reaching $23.34. 3,729,150 shares of the company traded hands, compared to its average volume of 8,358,332. Coupang, Inc. has a twelve month low of $17.34 and a twelve month high of $26.91. The firm has a market capitalization of $42.13 billion, a price-to-earnings ratio of 40.94, a price-to-earnings-growth ratio of 52.20 and a beta of 1.10. 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 company has a fifty day moving average price of $23.34 and a 200 day moving average price of $23.91.

Insider Activity at Coupang

In other Coupang news, VP Pranam Kolari sold 8,459 shares of the business's stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $22.98, for a total transaction 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. The trade was a 5.82 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 value of $5,857,500.00. Following 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. Insiders sold 259,234 shares of company stock worth $6,069,015 in the last 90 days. 13.60% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on CPNG. Mizuho lifted their target price on Coupang from $25.00 to $27.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 26th. Barclays set a $35.00 target price on Coupang and gave the stock an "overweight" rating in a research report on Thursday, February 27th. Deutsche Bank Aktiengesellschaft upgraded Coupang from a "hold" rating to a "buy" rating and set a $28.50 target price for the company in a research report on Wednesday, February 26th. Finally, Citigroup decreased their target price on 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 given a buy rating to the company. Based on data from MarketBeat.com, the stock 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.