Parallel Advisors LLC Sells 22,066 Shares of Coupang, Inc. (NYSE:CPNG)

Parallel Advisors LLC lessened its holdings in Coupang, Inc. (NYSE:CPNG) by 5.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 413,012 shares of the company’s stock after selling 22,066 shares during the quarter. Parallel Advisors LLC’s holdings in Coupang were worth $9,078,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the business. Pacer Advisors Inc. grew its stake in Coupang by 4.1% in the 4th quarter. Pacer Advisors Inc. now owns 11,502 shares of the company’s stock valued at $253,000 after purchasing an additional 452 shares during the period. Angeles Wealth Management LLC grew its stake in Coupang by 0.8% in the 4th quarter. Angeles Wealth Management LLC now owns 55,074 shares of the company’s stock valued at $1,211,000 after purchasing an additional 459 shares during the period. IFP Advisors Inc grew its stake in Coupang by 3.8% in the 4th quarter. IFP Advisors Inc now owns 12,734 shares of the company’s stock valued at $280,000 after purchasing an additional 469 shares during the period. Ignite Planners LLC grew its stake in Coupang by 2.5% in the 4th quarter. Ignite Planners LLC now owns 20,162 shares of the company’s stock valued at $452,000 after purchasing an additional 483 shares during the period. Finally, Janus Henderson Group PLC lifted its position in shares of Coupang by 2.2% during the 3rd quarter. Janus Henderson Group PLC now owns 34,598 shares of the company’s stock valued at $850,000 after buying an additional 747 shares during the last quarter. Institutional investors own 83.72% of the company’s stock.

Insider Buying and Selling at Coupang

In other Coupang news, VP Pranam Kolari sold 8,459 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $22.98, for a total value of $194,387.82. Following the sale, the vice president now 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 13.60% of the company’s stock.

Analyst Upgrades and Downgrades

CPNG has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft raised Coupang from a “hold” rating to a “buy” rating and set a $28.50 price target on the stock in a research report on Wednesday, February 26th. Mizuho upped their price target on Coupang from $25.00 to $27.00 and gave the company a “neutral” rating in a research report on Wednesday, February 26th. Barclays set a $35.00 price target on Coupang and gave the company an “overweight” rating in a research report on Thursday, February 27th. Finally, Citigroup dropped their price target on 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 issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $29.17.

Coupang Stock Performance

Shares of CPNG opened at $22.49 on Monday. The stock’s 50-day simple moving average is $23.28 and its 200 day simple moving average is $23.90. Coupang, Inc. has a 52-week low of $17.34 and a 52-week high of $26.91. The stock has a market capitalization of $40.60 billion, a price-to-earnings ratio of 39.45, a price-to-earnings-growth ratio of 52.20 and a beta of 1.10. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.86 and a current ratio of 1.13.

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.