Financial Advocates Investment Management Sells 2,609 Shares of Coupang, Inc. (NYSE:CPNG)

Financial Advocates Investment Management cut its position in Coupang, Inc. (NYSE:CPNG) by 14.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,805 shares of the company’s stock after selling 2,609 shares during the quarter. Financial Advocates Investment Management’s holdings in Coupang were worth $347,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. Brooklyn Investment Group bought a new position in Coupang during the 3rd quarter worth $28,000. Asset Dedication LLC increased its stake in shares of Coupang by 438.1% in the third quarter. Asset Dedication LLC now owns 1,216 shares of the company’s stock valued at $30,000 after buying an additional 990 shares during the period. Berbice Capital Management LLC bought a new position in shares of Coupang during the fourth quarter worth about $31,000. Van ECK Associates Corp lifted its stake in shares of Coupang by 63.1% in the third quarter. Van ECK Associates Corp now owns 1,251 shares of the company’s stock worth $32,000 after acquiring an additional 484 shares during the period. Finally, Wolff Wiese Magana LLC boosted its holdings in Coupang by 330.4% in the third quarter. Wolff Wiese Magana LLC now owns 1,687 shares of the company’s stock valued at $41,000 after acquiring an additional 1,295 shares during the last quarter. 83.72% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Citigroup lowered 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. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $27.56.

Insider Activity at Coupang

In related news, VP Pranam Kolari sold 8,459 shares of the business’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 directly owns 136,806 shares of the company’s stock, valued at $3,143,801.88. The trade was a 5.82 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 13.60% of the stock is owned by corporate insiders.

Coupang Price Performance

Shares of CPNG opened at $23.65 on Monday. The firm has a market cap of $42.54 billion, a PE ratio of 41.49, a price-to-earnings-growth ratio of 43.21 and a beta of 1.11. Coupang, Inc. has a 52-week low of $14.10 and a 52-week high of $26.91. 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 business’s 50 day moving average price is $22.94 and its two-hundred day moving average price is $23.53.

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.