Proficio Capital Partners LLC Makes New Investment in Coupang, Inc. (NYSE:CPNG)

Proficio Capital Partners LLC purchased a new position in Coupang, Inc. (NYSE:CPNG - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 38,839 shares of the company's stock, valued at approximately $854,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. FMR LLC raised its holdings in Coupang by 32.0% during the third quarter. FMR LLC now owns 27,153,608 shares of the company's stock worth $666,621,000 after purchasing an additional 6,584,910 shares in the last quarter. State Street Corp raised its holdings in Coupang by 1.9% during the third quarter. State Street Corp now owns 14,125,599 shares of the company's stock worth $346,783,000 after purchasing an additional 259,400 shares in the last quarter. Wellington Management Group LLP raised its holdings in Coupang by 43.2% during the third quarter. Wellington Management Group LLP now owns 8,630,058 shares of the company's stock worth $211,868,000 after purchasing an additional 2,603,046 shares in the last quarter. Coronation Fund Managers Ltd. raised its holdings in Coupang by 53.3% during the fourth quarter. Coronation Fund Managers Ltd. now owns 7,383,611 shares of the company's stock worth $162,292,000 after purchasing an additional 2,566,581 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in Coupang by 0.5% during the third quarter. Geode Capital Management LLC now owns 5,885,243 shares of the company's stock worth $144,483,000 after purchasing an additional 29,164 shares in the last quarter. 83.72% of the stock is owned by hedge funds and other institutional investors.

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Insider Buying and Selling

In related news, VP Pranam Kolari sold 8,459 shares of the firm's stock in a transaction that occurred on Monday, February 3rd. The shares were 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 in the company, valued at approximately $3,143,801.88. This trade represents a 5.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 13.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on CPNG shares. Citigroup lowered 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. Barclays set a $35.00 target price on shares of Coupang and gave the stock an "overweight" rating in a research report on Thursday, February 27th. Deutsche Bank Aktiengesellschaft upgraded shares of Coupang from a "hold" rating to a "buy" rating and set a $28.50 target price on the stock in a research report on Wednesday, February 26th. Finally, Mizuho upped their target price 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. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $29.17.

Coupang Price Performance

Shares of CPNG stock traded down $0.45 during trading hours on Friday, hitting $22.73. The company's stock had a trading volume of 7,307,375 shares, compared to its average volume of 8,793,827. The business has a fifty day moving average of $23.28 and a 200-day moving average of $23.91. The stock has a market cap of $40.88 billion, a price-to-earnings ratio of 39.87, a P/E/G ratio of 52.20 and a beta of 1.10. Coupang, Inc. has a twelve month low of $17.34 and a twelve month high of $26.91. The company has a current ratio of 1.13, a quick ratio of 0.86 and a debt-to-equity ratio of 0.28.

Coupang Company 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.