Heritage Wealth Management Inc. CA Decreases Stake in Coupang, Inc. (NYSE:CPNG)

Heritage Wealth Management Inc. CA lessened its holdings in shares of Coupang, Inc. (NYSE:CPNG) by 11.2% in the 4th quarter, Holdings Channel reports. The fund owned 40,357 shares of the company’s stock after selling 5,097 shares during the quarter. Heritage Wealth Management Inc. CA’s holdings in Coupang were worth $887,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of CPNG. Congress Wealth Management LLC DE grew its holdings in Coupang by 97.7% in the 4th quarter. Congress Wealth Management LLC DE now owns 49,698 shares of the company’s stock valued at $1,092,000 after buying an additional 24,554 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Coupang by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 5,366,214 shares of the company’s stock valued at $117,949,000 after acquiring an additional 54,364 shares during the last quarter. Stevens Capital Management LP purchased a new stake in shares of Coupang in the fourth quarter valued at about $267,000. Fox Run Management L.L.C. increased its position in Coupang by 197.9% during the fourth quarter. Fox Run Management L.L.C. now owns 71,883 shares of the company’s stock worth $1,580,000 after purchasing an additional 47,756 shares during the last quarter. Finally, AXQ Capital LP purchased a new position in Coupang during the fourth quarter worth about $594,000. Institutional investors and hedge funds own 83.72% of the company’s stock.

Coupang Price Performance

CPNG stock opened at $23.57 on Tuesday. The business’s fifty day moving average price is $23.44 and its 200 day moving average price is $23.94. Coupang, Inc. has a 12-month low of $17.34 and a 12-month high of $26.91. The company has a current ratio of 1.13, a quick ratio of 0.86 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $42.55 billion, a PE ratio of 41.35, a P/E/G ratio of 52.20 and a beta of 1.10.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CPNG. Citigroup cut their price target 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. Mizuho raised their target price on Coupang from $25.00 to $27.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 26th. Deutsche Bank Aktiengesellschaft raised Coupang from a “hold” rating to a “buy” rating and set a $28.50 price target on the stock in a research note on Wednesday, February 26th. Finally, Barclays set a $35.00 price objective on Coupang and gave the stock an “overweight” rating in a research report on Thursday, February 27th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, Coupang currently has a consensus rating of “Moderate Buy” and a consensus target price of $29.17.

Insider Buying and Selling at Coupang

In other news, VP Pranam Kolari sold 8,459 shares of the stock in a transaction 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 sale, the vice president now directly owns 136,806 shares in the company, 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Benjamin Sun sold 250,000 shares of Coupang stock in a transaction on 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 transaction, the director now owns 1,719,421 shares of the company’s stock, valued at approximately $40,286,034.03. This trade represents a 12.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 259,234 shares of company stock valued at $6,069,015 in the last three months. 13.60% of the stock is owned by corporate 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.