Wingate Wealth Advisors Inc. Takes Position in Coupang, Inc. (NYSE:CPNG)

Wingate Wealth Advisors Inc. purchased a new position in Coupang, Inc. (NYSE:CPNG) in the 4th quarter, HoldingsChannel.com reports. The firm purchased 1,200 shares of the company’s stock, valued at approximately $26,000.

A number of other large investors also recently bought and sold shares of CPNG. Assenagon Asset Management S.A. boosted its holdings in Coupang by 85.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,100,183 shares of the company’s stock worth $24,182,000 after acquiring an additional 506,622 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Coupang by 22.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 759,286 shares of the company’s stock worth $18,640,000 after purchasing an additional 138,416 shares during the last quarter. abrdn plc boosted its stake in Coupang by 40.2% in the 3rd quarter. abrdn plc now owns 202,359 shares of the company’s stock worth $4,968,000 after purchasing an additional 58,060 shares in the last quarter. Plotkin Financial Advisors LLC purchased a new stake in Coupang during the 3rd quarter valued at about $491,000. Finally, Coronation Fund Managers Ltd. increased its stake in Coupang by 139.1% during the 3rd quarter. Coronation Fund Managers Ltd. now owns 4,817,030 shares of the company’s stock valued at $118,258,000 after purchasing an additional 2,802,325 shares in the last quarter. 83.72% of the stock is owned by hedge funds and other institutional investors.

Coupang Price Performance

CPNG opened at $23.85 on Wednesday. The stock has a market capitalization of $42.89 billion, a P/E ratio of 41.83, a P/E/G ratio of 43.21 and a beta of 1.11. The company’s 50-day simple moving average is $22.92 and its two-hundred day simple moving average is $23.58. Coupang, Inc. has a 52-week low of $14.48 and a 52-week high of $26.91. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.86 and a current ratio of 1.13.

Analyst Ratings Changes

Separately, Citigroup decreased their target price on shares of Coupang from $31.00 to $28.00 and set a “buy” rating for the company in a report on Wednesday, January 8th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $27.56.

Insiders Place Their Bets

In other Coupang news, VP Pranam Kolari sold 8,459 shares of the business’s stock in a transaction dated 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 sale, the vice president now directly owns 136,806 shares in the company, 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 currently owned by insiders.

Coupang Company 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.