Equitable Trust Co. Has $2.72 Million Position in Coupang, Inc. (NYSE:CPNG)

Equitable Trust Co. reduced its stake in shares of Coupang, Inc. (NYSE:CPNG) by 1.8% in the 4th quarter, HoldingsChannel.com reports. The firm owned 123,701 shares of the company’s stock after selling 2,245 shares during the quarter. Equitable Trust Co.’s holdings in Coupang were worth $2,719,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the stock. Wingate Wealth Advisors Inc. acquired a new stake in shares of Coupang during the fourth quarter worth approximately $26,000. Elevate Capital Advisors LLC acquired a new stake in shares of Coupang during the fourth quarter worth approximately $2,618,000. Angeles Wealth Management LLC lifted its stake in Coupang by 0.8% in the fourth quarter. Angeles Wealth Management LLC now owns 55,074 shares of the company’s stock valued at $1,211,000 after acquiring an additional 459 shares during the last quarter. Coronation Fund Managers Ltd. lifted its stake in Coupang by 53.3% in the fourth quarter. Coronation Fund Managers Ltd. now owns 7,383,611 shares of the company’s stock valued at $162,292,000 after acquiring an additional 2,566,581 shares during the last quarter. Finally, Empowered Funds LLC acquired a new stake in Coupang in the fourth quarter valued at approximately $772,000. 83.72% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, VP Pranam Kolari sold 8,459 shares of the business’s stock in a transaction 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 transaction, the vice president now owns 136,806 shares of the company’s stock, valued at approximately $3,143,801.88. The trade was a 5.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 13.60% of the company’s stock.

Analysts Set New Price Targets

Separately, Citigroup reduced their target price on shares of Coupang from $31.00 to $28.00 and set a “buy” rating for the company in a research note on Wednesday, January 8th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, Coupang currently has an average rating of “Moderate Buy” and an average price target of $27.56.

Coupang Trading Down 0.9 %

NYSE:CPNG opened at $23.65 on Monday. Coupang, Inc. has a 12 month low of $14.10 and a 12 month high of $26.91. The firm has a market cap of $42.54 billion, a price-to-earnings ratio of 41.49, a P/E/G ratio of 43.21 and a beta of 1.11. The company has a quick ratio of 0.86, a current ratio of 1.13 and a debt-to-equity ratio of 0.28. The company’s 50 day moving average is $22.94 and its 200-day moving average 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.