HighTower Advisors LLC Has $4.99 Million Holdings in Coupang, Inc. (NYSE:CPNG)

HighTower Advisors LLC lowered its holdings in Coupang, Inc. (NYSE:CPNG) by 0.3% in the fourth quarter, HoldingsChannel.com reports. The firm owned 227,164 shares of the company’s stock after selling 777 shares during the quarter. HighTower Advisors LLC’s holdings in Coupang were worth $4,993,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Atria Investments Inc boosted its stake in shares of Coupang by 4.2% in the third quarter. Atria Investments Inc now owns 23,111 shares of the company’s stock valued at $567,000 after buying an additional 937 shares during the period. Victory Capital Management Inc. raised its holdings in Coupang by 0.9% in the 3rd quarter. Victory Capital Management Inc. now owns 112,567 shares of the company’s stock valued at $2,764,000 after acquiring an additional 1,024 shares in the last quarter. Oppenheimer & Co. Inc. lifted its position in shares of Coupang by 10.6% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 11,265 shares of the company’s stock valued at $277,000 after acquiring an additional 1,082 shares during the period. CIBC Asset Management Inc grew its holdings in shares of Coupang by 5.0% during the 3rd quarter. CIBC Asset Management Inc now owns 54,709 shares of the company’s stock worth $1,343,000 after purchasing an additional 2,604 shares in the last quarter. Finally, Natixis Advisors LLC increased its position in shares of Coupang by 2.7% in the third quarter. Natixis Advisors LLC now owns 571,174 shares of the company’s stock worth $14,022,000 after purchasing an additional 15,210 shares during the period. Institutional investors and hedge funds own 83.72% of the company’s stock.

Insider Buying and Selling

In related news, VP Pranam Kolari sold 8,459 shares of Coupang 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 sale, the vice president now directly owns 136,806 shares in the company, valued at $3,143,801.88. This trade represents a 5.82 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Benjamin Sun sold 250,000 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $23.43, for a total transaction of $5,857,500.00. Following the completion of the transaction, the director now owns 1,719,421 shares of the company’s stock, valued at approximately $40,286,034.03. This trade represents a 12.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 259,234 shares of company stock worth $6,069,015 in the last 90 days. Insiders own 13.60% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Citigroup cut their price objective on shares of Coupang from $31.00 to $28.00 and set a “buy” rating for the company in a research report on Wednesday, January 8th. Barclays set a $35.00 price target on shares of Coupang and gave the stock an “overweight” rating in a report on Thursday, February 27th. 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 note on Wednesday, February 26th. Finally, Mizuho raised their target price on Coupang from $25.00 to $27.00 and gave the company a “neutral” rating in a report on Wednesday, February 26th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $29.17.

Coupang Stock Performance

NYSE CPNG opened at $23.54 on Thursday. The firm’s fifty day moving average price is $23.34 and its two-hundred day moving average price is $23.91. The stock has a market cap of $42.50 billion, a PE ratio of 41.30, a PEG ratio of 52.20 and a beta of 1.10. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.86 and a current ratio of 1.13. Coupang, Inc. has a fifty-two week low of $17.34 and a fifty-two week high of $26.91.

About Coupang

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.