Sovran Advisors LLC Invests $500,000 in Coupang, Inc. (NYSE:CPNG)

Sovran Advisors LLC purchased a new stake in Coupang, Inc. (NYSE:CPNG) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 22,776 shares of the company’s stock, valued at approximately $500,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Brooklyn Investment Group acquired a new position in shares of Coupang in the 3rd quarter valued at $28,000. Wingate Wealth Advisors Inc. purchased a new stake in Coupang during the 4th quarter valued at about $26,000. Asset Dedication LLC increased its holdings 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 purchasing an additional 990 shares during the period. Van ECK Associates Corp raised 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 purchasing an additional 484 shares during the last quarter. Finally, Berbice Capital Management LLC purchased a new position in shares of Coupang in the fourth quarter worth about $31,000. 83.72% of the stock is currently owned by hedge funds and other institutional investors.

Coupang Stock Performance

CPNG opened at $23.65 on Thursday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.13 and a quick ratio of 0.86. The firm has a fifty day moving average price of $22.91 and a 200 day moving average price of $23.58. Coupang, Inc. has a 1 year low of $14.51 and a 1 year high of $26.91. The stock has a market cap of $42.54 billion, a P/E ratio of 41.49, a P/E/G ratio of 43.21 and a beta of 1.11.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on CPNG shares. Barclays increased their price target on shares of Coupang from $32.00 to $34.00 and gave the stock an “overweight” rating in a report on Wednesday. Citigroup dropped their price objective 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.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $27.78.

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 stock was 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 in the company, valued at approximately $3,143,801.88. This represents a 5.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 13.60% of the stock is owned by corporate 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.