Sovran Advisors LLC Buys Shares of 22,776 Coupang, Inc. (NYSE:CPNG)

Sovran Advisors LLC bought a new position in shares of Coupang, Inc. (NYSE:CPNG - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 22,776 shares of the company's stock, valued at approximately $500,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Cetera Investment Advisers lifted its position in Coupang by 122.7% in the second quarter. Cetera Investment Advisers now owns 65,332 shares of the company's stock valued at $1,369,000 after acquiring an additional 35,992 shares during the last quarter. Sanctuary Advisors LLC acquired a new stake in shares of Coupang during the second quarter worth about $243,000. Northwest Capital Management Inc purchased a new position in Coupang during the 3rd quarter worth approximately $87,000. Creative Planning grew its stake in Coupang by 27.6% during the 3rd quarter. Creative Planning now owns 14,407 shares of the company's stock worth $354,000 after buying an additional 3,117 shares during the last quarter. Finally, Asset Dedication LLC grew its stake in Coupang by 438.1% during the 3rd quarter. Asset Dedication LLC now owns 1,216 shares of the company's stock worth $30,000 after buying an additional 990 shares during the last quarter. Institutional investors and hedge funds own 83.72% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on CPNG shares. Barclays lifted their target price on shares of Coupang from $32.00 to $34.00 and gave the company an "overweight" rating in a report on Wednesday. Citigroup reduced their target price on shares of Coupang from $31.00 to $28.00 and set a "buy" rating for the company in a report on Wednesday, January 8th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Coupang currently has a consensus rating of "Moderate Buy" and an average target price of $27.78.

Coupang Price Performance

CPNG stock traded up $0.30 on Friday, reaching $25.30. 8,734,027 shares of the company's stock were exchanged, compared to its average volume of 5,871,385. The stock has a fifty day moving average of $22.96 and a 200-day moving average of $23.67. Coupang, Inc. has a twelve month low of $15.14 and a twelve month high of $26.91. The firm has a market cap of $45.50 billion, a PE ratio of 44.38, a P/E/G ratio of 43.21 and a beta of 1.11. The company has a quick ratio of 0.86, a current ratio of 1.13 and a debt-to-equity ratio of 0.28.

Insiders Place Their Bets

In other Coupang news, VP Pranam Kolari sold 8,459 shares of the stock in a transaction dated 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 trade represents a 5.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 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.