Thoroughbred Financial Services LLC Sells 1,504 Shares of Coupang, Inc. (NYSE:CPNG)

Thoroughbred Financial Services LLC cut its position in Coupang, Inc. (NYSE:CPNG) by 4.9% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 29,078 shares of the company’s stock after selling 1,504 shares during the quarter. Thoroughbred Financial Services LLC’s holdings in Coupang were worth $639,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently bought and sold shares of the company. Motley Fool Asset Management LLC increased its stake in shares of Coupang by 13.3% in the fourth quarter. Motley Fool Asset Management LLC now owns 81,793 shares of the company’s stock worth $1,798,000 after purchasing an additional 9,603 shares during the period. Westpac Banking Corp bought a new position in Coupang in the 4th quarter worth approximately $717,000. Bryce Point Capital LLC acquired a new position in shares of Coupang during the fourth quarter worth approximately $533,000. Ardmore Road Asset Management LP bought a new stake in shares of Coupang in the fourth quarter valued at approximately $7,693,000. Finally, Massachusetts Financial Services Co. MA acquired a new stake in shares of Coupang in the fourth quarter worth $35,580,000. Institutional investors own 83.72% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on CPNG. Mizuho increased their target price on shares of Coupang from $25.00 to $27.00 and gave the company 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 objective on the stock in a report on Wednesday, February 26th. Barclays set a $35.00 target price on Coupang and gave the company an “overweight” rating in a research note on Thursday, February 27th. Finally, Citigroup lowered their price target on shares of Coupang from $31.00 to $28.00 and set a “buy” rating on the stock in a report on Wednesday, January 8th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $29.17.

Coupang Stock Down 6.6 %

NYSE:CPNG opened at $20.05 on Friday. The company has a market cap of $36.19 billion, a price-to-earnings ratio of 35.17, a P/E/G ratio of 52.20 and a beta of 1.09. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.86 and a current ratio of 1.13. The stock’s fifty day moving average price is $23.46 and its two-hundred day moving average price is $23.87. Coupang, Inc. has a 52-week low of $18.16 and a 52-week high of $26.91.

Insider Activity

In related news, VP Pranam Kolari sold 8,459 shares of the company’s stock in a transaction dated 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 owns 136,806 shares in the company, valued at approximately $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 can be accessed through this link. Also, Director Benjamin Sun sold 250,000 shares of the company’s 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 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. 13.60% of the stock is currently owned by insiders.

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.