Sovran Advisors LLC Invests $500,000 in Coupang, Inc. (NYSE:CPNG)

Sovran Advisors LLC acquired a new position in Coupang, Inc. (NYSE:CPNG) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 22,776 shares of the company’s stock, valued at approximately $500,000.

Other large investors also recently bought and sold shares of the company. Wingate Wealth Advisors Inc. purchased a new stake in Coupang during the 4th quarter valued at about $26,000. Brooklyn Investment Group acquired a new position in shares of Coupang during the 3rd quarter worth approximately $28,000. Asset Dedication LLC boosted its holdings in shares of Coupang by 438.1% during the 3rd quarter. Asset Dedication LLC now owns 1,216 shares of the company’s stock worth $30,000 after purchasing an additional 990 shares during the last quarter. Berbice Capital Management LLC acquired a new position in shares of Coupang during the 4th quarter worth approximately $31,000. Finally, Van ECK Associates Corp lifted its position in Coupang by 63.1% during the third quarter. Van ECK Associates Corp now owns 1,251 shares of the company’s stock worth $32,000 after buying an additional 484 shares in the last quarter. 83.72% of the stock is currently owned by hedge funds and other institutional investors.

Coupang Price Performance

CPNG stock opened at $23.65 on Thursday. The business’s fifty day moving average price is $22.91 and its 200 day moving average price is $23.58. Coupang, Inc. has a 12-month low of $14.51 and a 12-month high of $26.91. The company has a market capitalization of $42.54 billion, a PE ratio of 41.49, a P/E/G ratio of 43.21 and a beta of 1.11. The company has a current ratio of 1.13, a quick ratio of 0.86 and a debt-to-equity ratio of 0.28.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Barclays upped their price objective on shares of Coupang from $32.00 to $34.00 and gave the company an “overweight” rating in a report on Wednesday. Citigroup reduced their price target on shares of Coupang from $31.00 to $28.00 and set a “buy” rating on the stock in a research report on Wednesday, January 8th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, Coupang currently has an average rating of “Moderate Buy” and an average target price of $27.78.

Insiders Place Their Bets

In related news, VP Pranam Kolari sold 8,459 shares of the business’s stock in a transaction on Monday, February 3rd. The stock was 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. The trade was a 5.82 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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.