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

Financial Advocates Investment Management decreased its holdings in Coupang, Inc. (NYSE:CPNG) by 14.2% during the 4th quarter, Holdings Channel.com reports. 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.

Other large investors have also added to or reduced their stakes in the company. Pacer Advisors Inc. raised its stake in shares of Coupang by 4.1% in the fourth quarter. Pacer Advisors Inc. now owns 11,502 shares of the company’s stock worth $253,000 after purchasing an additional 452 shares during the last quarter. Ignite Planners LLC grew its holdings in Coupang by 2.5% during the fourth quarter. Ignite Planners LLC now owns 20,162 shares of the company’s stock worth $452,000 after buying an additional 483 shares in the last quarter. Van ECK Associates Corp raised its position in Coupang by 63.1% in the 3rd quarter. Van ECK Associates Corp now owns 1,251 shares of the company’s stock valued at $32,000 after buying an additional 484 shares during the last quarter. Covestor Ltd lifted its stake in Coupang by 10.4% during the 3rd quarter. Covestor Ltd now owns 6,479 shares of the company’s stock valued at $159,000 after acquiring an additional 612 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its holdings in Coupang by 2.2% during the 3rd quarter. Janus Henderson Group PLC now owns 34,598 shares of the company’s stock worth $850,000 after acquiring an additional 747 shares during the last quarter. Institutional investors own 83.72% of the company’s stock.

Insider Buying and Selling

In other 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 transaction, the vice president now directly owns 136,806 shares of the company’s stock, valued at $3,143,801.88. This represents a 5.82 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 13.60% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Separately, Citigroup lowered their target price 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 investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $27.56.

Coupang Trading Down 0.9 %

NYSE CPNG opened at $23.65 on Monday. The business’s fifty day moving average is $22.94 and its 200-day moving average is $23.53. 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 stock has a market capitalization of $42.54 billion, a price-to-earnings ratio of 41.49, a PEG ratio of 43.21 and a beta of 1.11. Coupang, Inc. has a one year low of $14.10 and a one year high of $26.91.

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.