Sei Investments Co. Acquires 16,716 Shares of Coupang, Inc. (NYSE:CPNG)

Sei Investments Co. lifted its stake in shares of Coupang, Inc. (NYSE:CPNG - Free Report) by 0.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,040,242 shares of the company's stock after purchasing an additional 16,716 shares during the period. Sei Investments Co. owned approximately 0.11% of Coupang worth $44,845,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Wingate Wealth Advisors Inc. bought a new position in Coupang in the 4th quarter valued at $26,000. Brooklyn Investment Group bought a new position in Coupang in the third quarter valued at about $28,000. Berbice Capital Management LLC acquired a new stake in Coupang in the fourth quarter worth about $31,000. Allworth Financial LP raised 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 worth $45,000 after purchasing an additional 1,986 shares during the last quarter. Finally, Signaturefd LLC lifted its position in Coupang by 34.7% during the 4th 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. Institutional investors and hedge funds own 83.72% of the company's stock.

Analyst Ratings Changes

A number of research firms recently weighed in on CPNG. Barclays set a $35.00 price target on shares of Coupang and gave the stock an "overweight" rating in a research note on Thursday, February 27th. Citigroup dropped their target price on shares of Coupang from $31.00 to $28.00 and set a "buy" rating for the company in a research report on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft upgraded Coupang from a "hold" rating to a "buy" rating and set a $28.50 price target on the stock in a research report on Wednesday, February 26th. Finally, Mizuho upped their price objective on Coupang from $25.00 to $27.00 and gave the company a "neutral" rating in a report on Wednesday, February 26th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Coupang has an average rating of "Moderate Buy" and a consensus price target of $29.17.

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Coupang Trading Down 0.3 %

Shares of Coupang stock traded down $0.07 during trading hours on Thursday, hitting $23.51. The company's stock had a trading volume of 7,658,615 shares, compared to its average volume of 8,272,689. The company has a market capitalization of $42.44 billion, a PE ratio of 41.24, 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 stock has a 50 day moving average of $23.51 and a 200 day moving average of $23.94. Coupang, Inc. has a 12 month low of $17.55 and a 12 month high of $26.91.

Insiders Place Their Bets

In related news, VP Pranam Kolari sold 8,459 shares of the company's 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 directly owns 136,806 shares of the company's stock, valued at approximately $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 accessible through this link. Also, Director Benjamin Sun sold 250,000 shares of Coupang stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $23.43, for a total value of $5,857,500.00. Following the completion of the sale, the director now directly owns 1,719,421 shares in the company, valued at $40,286,034.03. This represents a 12.69 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 259,234 shares of company stock worth $6,069,015. Company insiders own 13.60% of the company's stock.

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.