Thoroughbred Financial Services LLC Reduces Holdings in Coupang, Inc. (NYSE:CPNG)

Thoroughbred Financial Services LLC lessened its stake in shares of Coupang, Inc. (NYSE:CPNG) by 4.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 29,078 shares of the company’s stock after selling 1,504 shares during the period. Thoroughbred Financial Services LLC’s holdings in Coupang were worth $639,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in CPNG. Wingate Wealth Advisors Inc. acquired a new position in shares of Coupang in the fourth quarter valued at approximately $26,000. Berbice Capital Management LLC purchased a new position in shares of Coupang during the fourth quarter worth about $31,000. Allworth Financial LP lifted its stake in shares of Coupang by 11,033.3% in the 4th quarter. Allworth Financial LP now owns 2,004 shares of the company’s stock worth $45,000 after acquiring an additional 1,986 shares during the period. Signaturefd LLC increased its position in Coupang by 34.7% during the 4th quarter. Signaturefd LLC now owns 3,193 shares of the company’s stock worth $70,000 after purchasing an additional 822 shares during the period. Finally, Atala Financial Inc acquired a new stake in shares of Coupang in the fourth quarter valued at about $80,000. 83.72% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Coupang

In related news, VP Pranam Kolari sold 8,459 shares of the business’s stock in a transaction that occurred 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 sale, the vice president now owns 136,806 shares of the company’s stock, valued at approximately $3,143,801.88. The trade was a 5.82 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Benjamin Sun sold 250,000 shares of Coupang stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $23.43, for a total transaction of $5,857,500.00. Following the completion of the sale, the director now owns 1,719,421 shares of the company’s stock, valued at $40,286,034.03. This trade represents a 12.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 13.60% of the company’s stock.

Coupang Price Performance

Shares of Coupang stock opened at $20.05 on Friday. Coupang, Inc. has a 52 week low of $18.16 and a 52 week high of $26.91. The company has a current ratio of 1.13, a quick ratio of 0.86 and a debt-to-equity ratio of 0.28. The company’s 50-day moving average price is $23.46 and its two-hundred day moving average price is $23.87. The stock has a market cap of $36.19 billion, a PE ratio of 35.17, a price-to-earnings-growth ratio of 52.20 and a beta of 1.09.

Analysts Set New Price Targets

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

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.