Coupang, Inc. (NYSE:CPNG) Shares Sold by Connable Office Inc.

Connable Office Inc. lowered its holdings in Coupang, Inc. (NYSE:CPNG) by 3.2% during the fourth quarter, HoldingsChannel.com reports. The fund owned 47,780 shares of the company’s stock after selling 1,557 shares during the period. Connable Office Inc.’s holdings in Coupang were worth $1,050,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of the business. Hosking Partners LLP lifted its holdings in Coupang by 58.2% in the fourth quarter. Hosking Partners LLP now owns 926,236 shares of the company’s stock worth $20,359,000 after acquiring an additional 340,855 shares during the last quarter. Proficio Capital Partners LLC bought a new position in Coupang in the fourth quarter worth about $854,000. New York Life Investment Management LLC bought a new position in Coupang in the fourth quarter worth about $349,000. BankPlus Trust Department bought a new position in Coupang in the fourth quarter worth about $225,000. Finally, IFP Advisors Inc raised its holdings in shares of Coupang by 3.8% during the fourth quarter. IFP Advisors Inc now owns 12,734 shares of the company’s stock valued at $280,000 after buying an additional 469 shares during the last quarter. Institutional investors own 83.72% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. 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. Mizuho boosted their price objective on Coupang from $25.00 to $27.00 and gave the stock a “neutral” rating in a research report on Wednesday. Citigroup reduced their price objective on Coupang from $31.00 to $28.00 and set a “buy” rating for the company in a research report on Wednesday, January 8th. Finally, Barclays set a $35.00 price objective on Coupang and gave the stock an “overweight” rating in a research report on Thursday. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $29.17.

Insiders Place Their Bets

In other Coupang news, VP Pranam Kolari sold 8,459 shares of the company’s stock in a transaction that occurred 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 sale, the vice president now directly 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 13.60% of the stock is currently owned by insiders.

Coupang Stock Performance

CPNG opened at $23.68 on Friday. The company has a market capitalization of $42.59 billion, a price-to-earnings ratio of 41.54, a price-to-earnings-growth 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 1-year low of $17.34 and a 1-year high of $26.91. The business has a 50 day moving average price of $23.22 and a two-hundred day moving average price of $23.87.

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.