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

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

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CPNG. FMR LLC grew its holdings in shares of Coupang by 32.0% in the third quarter. FMR LLC now owns 27,153,608 shares of the company’s stock valued at $666,621,000 after purchasing an additional 6,584,910 shares in the last quarter. Wellington Management Group LLP increased its position in shares of Coupang by 43.2% during the 3rd quarter. Wellington Management Group LLP now owns 8,630,058 shares of the company’s stock valued at $211,868,000 after purchasing an additional 2,603,046 shares during the last quarter. Coronation Fund Managers Ltd. increased its position in shares of Coupang by 53.3% during the 4th quarter. Coronation Fund Managers Ltd. now owns 7,383,611 shares of the company’s stock valued at $162,292,000 after purchasing an additional 2,566,581 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its holdings in Coupang by 762.2% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 2,798,782 shares of the company’s stock valued at $68,710,000 after buying an additional 2,474,175 shares during the period. Finally, Ninety One UK Ltd bought a new stake in Coupang in the fourth quarter worth $46,388,000. 83.72% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, VP Pranam Kolari sold 8,459 shares of Coupang 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 completion of the sale, the vice president now directly owns 136,806 shares in the company, 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 legal filing with the SEC, which is available through the SEC website. 13.60% of the stock is owned by insiders.

Coupang Price Performance

Shares of CPNG stock opened at $22.49 on Friday. The company’s 50-day simple moving average is $23.28 and its two-hundred day simple moving average is $23.89. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.13 and a quick ratio of 0.86. Coupang, Inc. has a one year low of $17.34 and a one year high of $26.91. The company has a market capitalization of $40.60 billion, a P/E ratio of 39.45, a P/E/G ratio of 52.20 and a beta of 1.10.

Analysts Set New Price Targets

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