Avantax Advisory Services Inc. Sells 435 Shares of Coupang, Inc. (NYSE:CPNG)

Avantax Advisory Services Inc. lowered its stake in Coupang, Inc. (NYSE:CPNG) by 1.9% in the 4th quarter, HoldingsChannel.com reports. The firm owned 22,882 shares of the company’s stock after selling 435 shares during the period. Avantax Advisory Services Inc.’s holdings in Coupang were worth $503,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in CPNG. Daiwa Securities Group Inc. raised its holdings in Coupang by 10.0% during the 4th quarter. Daiwa Securities Group Inc. now owns 19,032 shares of the company’s stock valued at $418,000 after buying an additional 1,725 shares during the last quarter. Barings LLC increased its position in shares of Coupang by 22.1% during the fourth quarter. Barings LLC now owns 51,786 shares of the company’s stock valued at $1,138,000 after buying an additional 9,390 shares during the period. Amundi raised its stake in Coupang by 34.5% in the fourth quarter. Amundi now owns 377,879 shares of the company’s stock worth $8,419,000 after buying an additional 96,848 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Coupang by 4.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 250,354 shares of the company’s stock valued at $5,503,000 after purchasing an additional 10,119 shares in the last quarter. Finally, Machina Capital S.A.S. increased its stake in shares of Coupang by 123.1% in the 4th quarter. Machina Capital S.A.S. now owns 33,471 shares of the company’s stock worth $736,000 after acquiring an additional 18,470 shares in the last quarter. Hedge funds and other institutional investors own 83.72% of the company’s stock.

Insider Buying and Selling

In related news, VP Pranam Kolari sold 8,459 shares of the firm’s 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 completion of the transaction, the vice president now directly owns 136,806 shares of the company’s stock, valued at approximately $3,143,801.88. This trade represents a 5.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Benjamin Sun sold 250,000 shares of the company’s stock in a transaction 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 sale, the director now directly owns 1,719,421 shares in the company, valued at approximately $40,286,034.03. The trade was a 12.69 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 259,234 shares of company stock worth $6,069,015. 13.60% of the stock is owned by insiders.

Analysts Set New Price Targets

CPNG has been the subject of a number of recent research reports. Barclays set a $35.00 price objective on Coupang and gave the company an “overweight” rating in a research note on Thursday, February 27th. Deutsche Bank Aktiengesellschaft upgraded shares of Coupang from a “hold” rating to a “buy” rating and set a $28.50 price target for the company in a research note on Wednesday, February 26th. Mizuho lifted their price objective on Coupang from $25.00 to $27.00 and gave the stock a “neutral” rating in a report on Wednesday, February 26th. Finally, 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. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Coupang has an average rating of “Moderate Buy” and a consensus target price of $29.17.

Coupang Stock Performance

NYSE:CPNG opened at $23.36 on Friday. The stock has a market capitalization of $42.17 billion, a P/E ratio of 40.97, a P/E/G ratio of 52.20 and a beta of 1.10. The company has a current ratio of 1.13, a quick ratio of 0.86 and a debt-to-equity ratio of 0.28. Coupang, Inc. has a 12-month low of $17.34 and a 12-month high of $26.91. The stock has a 50-day moving average price of $23.40 and a 200 day moving average price of $23.93.

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.