Envestnet Portfolio Solutions Inc. Sells 1,208 Shares of Coupang, Inc. (NYSE:CPNG)

Envestnet Portfolio Solutions Inc. reduced its stake in shares of Coupang, Inc. (NYSE:CPNG) by 2.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 51,231 shares of the company’s stock after selling 1,208 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Coupang were worth $1,126,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in CPNG. Wingate Wealth Advisors Inc. acquired a new position in shares of Coupang in the fourth quarter worth approximately $26,000. Brooklyn Investment Group acquired a new position in shares of Coupang in the 3rd quarter worth approximately $28,000. Berbice Capital Management LLC bought a new stake in shares of Coupang in the 4th quarter valued at $31,000. Allworth Financial LP increased its position in shares of Coupang by 11,033.3% during the fourth quarter. Allworth Financial LP now owns 2,004 shares of the company’s stock worth $45,000 after buying an additional 1,986 shares during the period. Finally, Atala Financial Inc bought a new position in Coupang during the fourth quarter worth $80,000. Institutional investors own 83.72% of the company’s stock.

Coupang Trading Up 0.2 %

Shares of Coupang stock opened at $23.36 on Friday. 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 52 week low of $17.34 and a 52 week high of $26.91. The stock has a 50 day moving average price of $23.40 and a two-hundred day moving average price of $23.93. The stock has a market capitalization of $42.17 billion, a PE ratio of 40.97, a price-to-earnings-growth ratio of 52.20 and a beta of 1.10.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft upgraded Coupang from a “hold” rating to a “buy” rating and set a $28.50 price target for the company in a report on Wednesday, February 26th. Barclays set a $35.00 target price on Coupang and gave the stock an “overweight” rating in a research note on Thursday, February 27th. Mizuho boosted their price target on Coupang from $25.00 to $27.00 and gave the company a “neutral” rating in a research note on Wednesday, February 26th. Finally, Citigroup reduced 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 assigned a buy rating to the stock. According to MarketBeat.com, Coupang presently has a consensus rating of “Moderate Buy” and a consensus target price of $29.17.

Insider Activity at Coupang

In other news, Director Benjamin Sun sold 250,000 shares of the stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $23.43, for a total value of $5,857,500.00. Following the completion of the sale, the director now directly owns 1,719,421 shares of the company’s stock, valued at $40,286,034.03. This represents a 12.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 value of $194,387.82. Following the transaction, the vice president now directly owns 136,806 shares in the company, valued at approximately $3,143,801.88. The trade was a 5.82 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 259,234 shares of company stock valued at $6,069,015. 13.60% of the stock is owned by company insiders.

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.