Coupang (NYSE:CPNG) Price Target Raised to $34.00

Coupang (NYSE:CPNG) had its target price boosted by Barclays from $32.00 to $34.00 in a research note released on Wednesday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Separately, Citigroup reduced their price objective on shares of Coupang from $31.00 to $28.00 and set a “buy” rating for the company in a research note on Wednesday, January 8th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $27.78.

Coupang Stock Performance

Shares of CPNG stock opened at $25.30 on Wednesday. Coupang has a 12 month low of $15.14 and a 12 month high of $26.91. The company’s fifty day simple moving average is $22.96 and its 200-day simple moving average is $23.63. The firm has a market cap of $45.50 billion, a PE ratio of 44.38, a P/E/G ratio of 43.21 and a beta of 1.11. The company has a quick ratio of 0.86, a current ratio of 1.13 and a debt-to-equity ratio of 0.28.

Insider Buying and Selling

In other Coupang news, VP Pranam Kolari sold 8,459 shares of Coupang stock in a transaction on Monday, February 3rd. The shares were 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 ownership of the stock. 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 corporate insiders.

Hedge Funds Weigh In On Coupang

Several large investors have recently modified their holdings of the stock. 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 buying an additional 452 shares during the last quarter. Angeles Wealth Management LLC grew its position in shares of Coupang by 0.8% in the fourth 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 last quarter. Virtus ETF Advisers LLC increased its stake in shares of Coupang by 1.1% during the fourth quarter. Virtus ETF Advisers LLC now owns 44,341 shares of the company’s stock worth $975,000 after purchasing an additional 466 shares during the period. IFP Advisors Inc grew its holdings 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 buying an additional 469 shares in the last quarter. Finally, Ignite Planners LLC lifted its holdings in shares of Coupang by 2.5% during the fourth quarter. Ignite Planners LLC now owns 20,162 shares of the company’s stock worth $452,000 after buying an additional 483 shares in the last quarter. 83.72% of the stock is owned by institutional investors.

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.