Sciencast Management LP Invests $1.27 Million in Coupang, Inc. (NYSE:CPNG)

Sciencast Management LP acquired a new stake in Coupang, Inc. (NYSE:CPNG - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 57,683 shares of the company's stock, valued at approximately $1,268,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CPNG. Brooklyn Investment Group purchased a new position in shares of Coupang in the third quarter worth about $28,000. Wingate Wealth Advisors Inc. acquired a new stake in shares of Coupang during the 4th quarter worth about $26,000. Berbice Capital Management LLC purchased a new stake in shares of Coupang in the 4th quarter valued at approximately $31,000. Allworth Financial LP boosted its holdings in Coupang by 11,033.3% during the 4th quarter. Allworth Financial LP now owns 2,004 shares of the company's stock valued at $45,000 after acquiring an additional 1,986 shares during the period. Finally, Signaturefd LLC boosted its stake in shares of Coupang by 34.7% in the fourth quarter. Signaturefd LLC now owns 3,193 shares of the company's stock valued at $70,000 after purchasing an additional 822 shares during the period. Hedge funds and other institutional investors own 83.72% of the company's stock.

Coupang Trading Down 1.0 %

Shares of CPNG traded down $0.23 during mid-day trading on Tuesday, hitting $23.37. The company had a trading volume of 2,714,715 shares, compared to its average volume of 8,314,093. Coupang, Inc. has a 1-year low of $17.34 and a 1-year high of $26.91. The business's 50-day simple moving average is $23.44 and its 200-day simple moving average is $23.94. The stock has a market cap of $42.19 billion, a PE ratio of 40.99, a P/E/G ratio of 52.20 and a beta of 1.10. The company has a quick ratio of 0.86, a current ratio of 1.13 and a debt-to-equity ratio of 0.28.

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Analyst Ratings Changes

CPNG has been the subject of a number of analyst reports. Citigroup lowered their target price on shares of Coupang from $31.00 to $28.00 and set a "buy" rating for the company in a research note on Wednesday, January 8th. Barclays set a $35.00 price objective on Coupang and gave the company an "overweight" rating in a research note on Thursday, February 27th. Mizuho boosted 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. Finally, Deutsche Bank Aktiengesellschaft upgraded Coupang from a "hold" rating to a "buy" rating and set a $28.50 price objective for the company in a research report on Wednesday, February 26th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, Coupang has an average rating of "Moderate Buy" and an average price target of $29.17.

Insider Activity at Coupang

In other news, Director Benjamin Sun sold 250,000 shares of the business's stock in a transaction 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 transaction, the director now directly 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Pranam Kolari sold 8,459 shares of the firm's stock in a transaction 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 directly owns 136,806 shares of the company's stock, valued at approximately $3,143,801.88. The trade was a 5.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 259,234 shares of company stock worth $6,069,015. 13.60% of the stock is owned by 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.