Heritage Wealth Management Inc. CA Decreases Stake in Coupang, Inc. (NYSE:CPNG)

Heritage Wealth Management Inc. CA cut its stake in shares of Coupang, Inc. (NYSE:CPNG) by 11.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 40,357 shares of the company’s stock after selling 5,097 shares during the quarter. Heritage Wealth Management Inc. CA’s holdings in Coupang were worth $887,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Assenagon Asset Management S.A. lifted its position in Coupang by 85.4% during the 4th 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 during the period. Allspring Global Investments Holdings LLC lifted its holdings in shares of Coupang by 23.4% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 218,100 shares of the company’s stock worth $4,861,000 after purchasing an additional 41,384 shares during the period. Elevate Capital Advisors LLC purchased a new stake in Coupang in the fourth quarter valued at approximately $2,618,000. Charles Schwab Investment Management Inc. increased its holdings in 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 buying an additional 138,416 shares during the period. Finally, Plotkin Financial Advisors LLC purchased a new position in Coupang during the 3rd quarter worth approximately $491,000. 83.72% of the stock is owned by institutional investors and hedge funds.

Coupang Price Performance

NYSE:CPNG opened at $23.57 on Tuesday. The company has a quick ratio of 0.86, a current ratio of 1.13 and a debt-to-equity ratio of 0.28. Coupang, Inc. has a 52 week low of $17.34 and a 52 week high of $26.91. The stock’s 50-day moving average price is $23.44 and its 200-day moving average price is $23.94. The stock has a market capitalization of $42.55 billion, a PE ratio of 41.35, a price-to-earnings-growth ratio of 52.20 and a beta of 1.10.

Insiders Place Their Bets

In other Coupang news, Director Benjamin Sun sold 250,000 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The stock was 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 directly owns 1,719,421 shares in the company, valued at approximately $40,286,034.03. The trade was a 12.69 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Pranam Kolari sold 8,459 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $22.98, for a total value of $194,387.82. Following 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 disclosure for this sale can be found here. Over the last 90 days, insiders have sold 259,234 shares of company stock worth $6,069,015. 13.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CPNG. Deutsche Bank Aktiengesellschaft raised shares of Coupang from a “hold” rating to a “buy” rating and set a $28.50 price objective on the stock in a report on Wednesday, February 26th. Barclays set a $35.00 price target on shares of Coupang and gave the company an “overweight” rating in a report on Thursday, February 27th. Mizuho lifted their price objective on Coupang from $25.00 to $27.00 and gave the company a “neutral” rating in a research note on Wednesday, February 26th. Finally, Citigroup lowered their target price on Coupang from $31.00 to $28.00 and set a “buy” rating on the stock in a research note 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.com, the company has an average rating of “Moderate Buy” and an average price target of $29.17.

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.