Coupang, Inc. (NYSE:CPNG) Shares Sold by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC decreased its holdings in shares of Coupang, Inc. (NYSE:CPNG) by 7.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 66,829 shares of the company’s stock after selling 5,169 shares during the period. Sequoia Financial Advisors LLC’s holdings in Coupang were worth $1,469,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of CPNG. Brooklyn Investment Group purchased a new position in Coupang in the third quarter worth $28,000. Wingate Wealth Advisors Inc. acquired a new position in shares of Coupang during the 4th quarter worth $26,000. Berbice Capital Management LLC purchased a new position in shares of Coupang in the 4th quarter valued at about $31,000. Allworth Financial LP boosted its holdings in 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 in the last quarter. Finally, SBI Securities Co. Ltd. acquired a new position in Coupang during the fourth quarter worth about $124,000. 83.72% of the stock is owned by institutional investors and hedge funds.

Coupang Price Performance

NYSE:CPNG opened at $22.49 on Friday. Coupang, Inc. has a 12-month low of $17.34 and a 12-month high of $26.91. The firm has a market cap of $40.60 billion, a price-to-earnings ratio of 39.45, a price-to-earnings-growth ratio of 52.20 and a beta of 1.10. The company’s 50-day moving average is $23.28 and its two-hundred day moving average is $23.89. The company has a current ratio of 1.13, a quick ratio of 0.86 and a debt-to-equity ratio of 0.28.

Wall Street Analyst Weigh In

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

Insider Activity

In related news, VP Pranam Kolari sold 8,459 shares of the company’s stock in a transaction on Monday, February 3rd. The stock was 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 in the company, valued at approximately $3,143,801.88. This 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 the SEC website. Company insiders own 13.60% of the company’s stock.

Coupang 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.