Capital Wealth Planning LLC Has $2.75 Million Position in Coupang, Inc. (NYSE:CPNG)

Capital Wealth Planning LLC lessened its stake in shares of Coupang, Inc. (NYSE:CPNG) by 11.8% during the fourth quarter, Holdings Channel reports. The fund owned 124,946 shares of the company’s stock after selling 16,729 shares during the quarter. Capital Wealth Planning LLC’s holdings in Coupang were worth $2,746,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of CPNG. Creative Planning lifted its position in shares of Coupang by 27.6% during the 3rd quarter. Creative Planning now owns 14,407 shares of the company’s stock valued at $354,000 after acquiring an additional 3,117 shares during the period. Raymond James & Associates lifted its position in shares of Coupang by 33.8% during the 3rd quarter. Raymond James & Associates now owns 157,963 shares of the company’s stock valued at $3,878,000 after acquiring an additional 39,938 shares during the period. abrdn plc lifted its position in shares of Coupang by 40.2% during the 3rd quarter. abrdn plc now owns 202,359 shares of the company’s stock valued at $4,968,000 after acquiring an additional 58,060 shares during the period. First Trust Direct Indexing L.P. acquired a new position in shares of Coupang during the 3rd quarter valued at $292,000. Finally, Janney Capital Management LLC acquired a new position in shares of Coupang during the 3rd quarter valued at $6,610,000. Institutional investors and hedge funds own 83.72% of the company’s stock.

Insider Activity

In other 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 sale, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 13.60% of the stock is currently owned by corporate insiders.

Coupang Stock Performance

Shares of CPNG stock opened at $23.68 on Friday. The firm has a 50-day moving average of $23.22 and a 200-day moving average of $23.88. The company has a market cap of $42.59 billion, a P/E ratio of 41.54, a P/E/G ratio of 52.20 and a beta of 1.11. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.13 and a quick ratio of 0.86. Coupang, Inc. has a one year low of $17.34 and a one year high of $26.91.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CPNG. Deutsche Bank Aktiengesellschaft upgraded shares of Coupang from a “hold” rating to a “buy” rating and set a $28.50 price target for the company in a research note on Wednesday. Barclays set a $35.00 price objective on shares of Coupang and gave the company an “overweight” rating in a research note on Thursday. Citigroup dropped their price objective on shares of Coupang from $31.00 to $28.00 and set a “buy” rating on the stock in a research note on Wednesday, January 8th. Finally, Mizuho raised their price objective on shares of Coupang from $25.00 to $27.00 and gave the company a “neutral” rating in a research note on Wednesday. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $29.17.

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.