Wingate Wealth Advisors Inc. Buys New Position in Coupang, Inc. (NYSE:CPNG)

Wingate Wealth Advisors Inc. purchased a new position in Coupang, Inc. (NYSE:CPNG) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 1,200 shares of the company’s stock, valued at approximately $26,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of CPNG. Cetera Investment Advisers increased its position in shares of Coupang by 122.7% during the 2nd quarter. Cetera Investment Advisers now owns 65,332 shares of the company’s stock valued at $1,369,000 after purchasing an additional 35,992 shares during the last quarter. Sanctuary Advisors LLC purchased a new stake in Coupang in the second quarter worth approximately $243,000. Northwest Capital Management Inc bought a new position in Coupang during the third quarter valued at approximately $87,000. Creative Planning boosted its stake in shares of Coupang by 27.6% in the 3rd quarter. Creative Planning now owns 14,407 shares of the company’s stock valued at $354,000 after purchasing an additional 3,117 shares in the last quarter. Finally, Asset Dedication LLC grew its holdings in shares of Coupang by 438.1% during the 3rd quarter. Asset Dedication LLC now owns 1,216 shares of the company’s stock valued at $30,000 after purchasing an additional 990 shares during the last quarter. Hedge funds and other institutional investors own 83.72% of the company’s stock.

Insider Transactions at Coupang

In related news, VP Pranam Kolari sold 8,459 shares of Coupang stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $22.98, for a total value of $194,387.82. Following the sale, the vice president now owns 136,806 shares in the company, valued at $3,143,801.88. The trade was a 5.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 13.60% of the stock is currently owned by company insiders.

Coupang Price Performance

Shares of Coupang stock opened at $23.85 on Wednesday. The company’s fifty day simple moving average is $22.92 and its two-hundred day simple moving average is $23.58. Coupang, Inc. has a 12-month low of $14.48 and a 12-month high of $26.91. The firm has a market cap of $42.89 billion, a PE ratio of 41.83, a price-to-earnings-growth 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.

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 research note on Wednesday, January 8th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $27.56.

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.