Freestone Capital Holdings LLC Sells 10,389 Shares of Coupang, Inc. (NYSE:CPNG)

Freestone Capital Holdings LLC reduced its position in shares of Coupang, Inc. (NYSE:CPNG) by 10.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 87,590 shares of the company’s stock after selling 10,389 shares during the period. Freestone Capital Holdings LLC’s holdings in Coupang were worth $1,925,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in CPNG. FMR LLC increased its position in Coupang by 32.0% in the 3rd quarter. FMR LLC now owns 27,153,608 shares of the company’s stock valued at $666,621,000 after acquiring an additional 6,584,910 shares in the last quarter. Wellington Management Group LLP grew its position in shares of Coupang by 43.2% during the 3rd quarter. Wellington Management Group LLP now owns 8,630,058 shares of the company’s stock worth $211,868,000 after buying an additional 2,603,046 shares during the period. Coronation Fund Managers Ltd. grew its position in shares of Coupang by 53.3% during the 4th quarter. Coronation Fund Managers Ltd. now owns 7,383,611 shares of the company’s stock worth $162,292,000 after buying an additional 2,566,581 shares during the period. Jacobs Levy Equity Management Inc. grew its position in shares of Coupang by 762.2% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 2,798,782 shares of the company’s stock worth $68,710,000 after buying an additional 2,474,175 shares during the period. Finally, Ninety One UK Ltd acquired a new stake in shares of Coupang during the 4th quarter worth approximately $46,388,000. 83.72% of the stock is owned by institutional investors.

Insider Buying and Selling at Coupang

In other Coupang news, VP Pranam Kolari sold 8,459 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $22.98, for a total transaction of $194,387.82. Following the completion of the sale, the vice president now owns 136,806 shares of the company’s stock, valued at approximately $3,143,801.88. This represents a 5.82 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 13.60% of the company’s stock.

Coupang Stock Down 3.4 %

Shares of NYSE CPNG opened at $23.17 on Friday. The company has a 50 day simple moving average of $23.28 and a 200 day simple moving average of $23.91. The firm has a market cap of $41.69 billion, a PE ratio of 40.66, a price-to-earnings-growth ratio of 52.20 and a beta of 1.10. Coupang, Inc. has a 1 year low of $17.34 and a 1 year high of $26.91. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.13 and a quick ratio of 0.86.

Analysts Set New Price Targets

CPNG has been the subject of a number of analyst reports. Citigroup decreased their price objective 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 lifted their price target 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 shares of Coupang from a “hold” rating to a “buy” rating and set a $28.50 price objective on the stock in a research report on Wednesday, February 26th. Finally, Barclays set a $35.00 price target on shares of Coupang and gave the stock an “overweight” rating in a research report on Thursday, February 27th. One 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, Coupang presently has an average rating of “Moderate Buy” and an average price target 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.