Proficio Capital Partners LLC Takes Position in Coupang, Inc. (NYSE:CPNG)

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

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Victory Capital Management Inc. increased its holdings in Coupang by 0.9% in the third quarter. Victory Capital Management Inc. now owns 112,567 shares of the company's stock valued at $2,764,000 after purchasing an additional 1,024 shares during the period. Oppenheimer & Co. Inc. grew its position in shares of Coupang by 10.6% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 11,265 shares of the company's stock valued at $277,000 after buying an additional 1,082 shares during the last quarter. Quest Partners LLC acquired a new stake in shares of Coupang in the third quarter valued at about $370,000. Pathstone Holdings LLC raised its position in shares of Coupang by 3.2% during the third quarter. Pathstone Holdings LLC now owns 215,411 shares of the company's stock worth $5,288,000 after acquiring an additional 6,615 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Coupang in the third quarter worth approximately $920,000. 83.72% of the stock is currently owned by institutional investors and hedge funds.

Coupang Stock Down 0.7 %

Shares of NYSE CPNG traded down $0.17 during trading on Tuesday, hitting $23.42. 4,800,354 shares of the company traded hands, compared to its average volume of 8,314,093. The business's fifty day moving average is $23.44 and its 200 day moving average is $23.94. The firm has a market capitalization of $42.28 billion, a price-to-earnings ratio of 41.09, a P/E/G ratio of 52.20 and a beta of 1.10. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.86 and a current ratio of 1.13. Coupang, Inc. has a fifty-two week low of $17.34 and a fifty-two week high of $26.91.

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Wall Street Analysts Forecast Growth

CPNG has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft raised shares of 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. Mizuho increased their price objective 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. Barclays set a $35.00 target price on shares of Coupang and gave the company an "overweight" rating in a report on Thursday, February 27th. Finally, Citigroup decreased their price target on Coupang from $31.00 to $28.00 and set a "buy" rating for the company in a report on Wednesday, January 8th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $29.17.

Insider Activity

In other Coupang news, VP Pranam Kolari sold 8,459 shares of the company's stock in a transaction 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 completion of the transaction, the vice president now owns 136,806 shares in the company, valued at $3,143,801.88. This represents a 5.82 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Benjamin Sun sold 250,000 shares of the stock in a transaction dated 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 transaction, the director now owns 1,719,421 shares of the company's stock, valued at approximately $40,286,034.03. The trade was a 12.69 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 259,234 shares of company stock worth $6,069,015 over the last quarter. 13.60% of the stock is currently owned by corporate insiders.

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.