Ironsides Asset Advisors LLC Trims Holdings in Coupang, Inc. (NYSE:CPNG)

Ironsides Asset Advisors LLC lowered its stake in shares of Coupang, Inc. (NYSE:CPNG) by 31.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,856 shares of the company’s stock after selling 6,300 shares during the quarter. Ironsides Asset Advisors LLC’s holdings in Coupang were worth $305,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Brooklyn Investment Group bought a new position in shares of Coupang in the 3rd quarter worth about $28,000. Wingate Wealth Advisors Inc. bought a new position in shares of Coupang during the fourth quarter valued at approximately $26,000. Berbice Capital Management LLC purchased a new position in shares of Coupang during the fourth quarter valued at approximately $31,000. Allworth Financial LP lifted its holdings in shares of Coupang by 11,033.3% during the fourth quarter. Allworth Financial LP now owns 2,004 shares of the company’s stock valued at $45,000 after purchasing an additional 1,986 shares during the last quarter. Finally, Atala Financial Inc bought a new stake in shares of Coupang in the 4th quarter worth approximately $80,000. Institutional investors own 83.72% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on CPNG. Barclays set a $35.00 price objective on Coupang and gave the company an “overweight” rating in a research note on Thursday, February 27th. Deutsche Bank Aktiengesellschaft raised Coupang from a “hold” rating to a “buy” rating and set a $28.50 price target for the company in a research report on Wednesday, February 26th. Citigroup cut their price objective on shares of Coupang from $31.00 to $28.00 and set a “buy” rating on the stock in a research report on Wednesday, January 8th. Finally, Mizuho lifted their target price on shares of Coupang from $25.00 to $27.00 and gave the stock a “neutral” rating in a report on Wednesday, February 26th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Coupang currently has an average rating of “Moderate Buy” and an average target price of $29.17.

Coupang Price Performance

Shares of CPNG opened at $22.49 on Friday. The company has a current ratio of 1.13, a quick ratio of 0.86 and a debt-to-equity ratio of 0.28. Coupang, Inc. has a 1-year low of $17.34 and a 1-year high of $26.91. The firm has a market cap of $40.60 billion, a PE ratio of 39.45, a P/E/G ratio of 52.20 and a beta of 1.10. The firm has a fifty day simple moving average of $23.28 and a two-hundred day simple moving average of $23.89.

Insider Buying and Selling at Coupang

In other Coupang news, VP Pranam Kolari sold 8,459 shares of the company’s stock in a transaction that occurred 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 sale, the vice president now directly owns 136,806 shares of the company’s stock, valued at approximately $3,143,801.88. This represents a 5.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 13.60% of the stock is owned by corporate 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.