Sequoia Financial Advisors LLC Cuts Stock Holdings in Coupang, Inc. (NYSE:CPNG)

Sequoia Financial Advisors LLC trimmed its position in shares of Coupang, Inc. (NYSE:CPNG) by 7.2% in the fourth quarter, HoldingsChannel reports. The institutional investor 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 quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in CPNG. Brooklyn Investment Group purchased a new stake in Coupang during the third quarter valued at about $28,000. Wingate Wealth Advisors Inc. acquired a new position in shares of Coupang in the 4th quarter valued at about $26,000. Berbice Capital Management LLC purchased a new stake in shares of Coupang during the 4th quarter worth about $31,000. Allworth Financial LP raised its holdings in Coupang by 11,033.3% in the fourth quarter. Allworth Financial LP now owns 2,004 shares of the company’s stock valued at $45,000 after buying an additional 1,986 shares during the period. Finally, SBI Securities Co. Ltd. acquired a new position in Coupang during the fourth quarter valued at approximately $124,000. 83.72% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CPNG. Barclays set a $35.00 price objective on shares of Coupang and gave the stock an “overweight” rating in a research report on Thursday, February 27th. Deutsche Bank Aktiengesellschaft raised Coupang from a “hold” rating to a “buy” rating and set a $28.50 price objective on the stock in a research report on Wednesday, February 26th. Mizuho upped their target price on Coupang from $25.00 to $27.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 26th. Finally, Citigroup dropped their target price on Coupang from $31.00 to $28.00 and set a “buy” rating on the stock in a report on Wednesday, January 8th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Coupang has an average rating of “Moderate Buy” and an average target price of $29.17.

Insider Transactions at Coupang

In other Coupang 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 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 trade represents a 5.82 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 13.60% of the company’s stock.

Coupang Price Performance

CPNG stock opened at $22.49 on Friday. The stock’s 50 day moving average is $23.28 and its two-hundred day moving average is $23.89. Coupang, Inc. has a 52-week low of $17.34 and a 52-week high of $26.91. The company has a market capitalization of $40.60 billion, a PE ratio of 39.45, a P/E/G ratio of 52.20 and a beta of 1.10. The company has a quick ratio of 0.86, a current ratio of 1.13 and a debt-to-equity ratio of 0.28.

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.