Stifel Financial Corp Reduces Stock Position in Coupang, Inc. (NYSE:CPNG)

Stifel Financial Corp lessened its holdings in Coupang, Inc. (NYSE:CPNG - Free Report) by 52.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 268,342 shares of the company's stock after selling 295,078 shares during the quarter. Stifel Financial Corp's holdings in Coupang were worth $5,898,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the business. Wingate Wealth Advisors Inc. bought a new position in shares of Coupang in the fourth quarter valued at approximately $26,000. Berbice Capital Management LLC bought a new position in Coupang in the 4th quarter valued at $31,000. Allworth Financial LP grew its position in shares of Coupang by 11,033.3% during the 4th 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 in the last quarter. TD Waterhouse Canada Inc. increased its holdings in shares of Coupang by 142.9% in the fourth quarter. TD Waterhouse Canada Inc. now owns 2,429 shares of the company's stock worth $53,000 after purchasing an additional 1,429 shares during the period. Finally, Signaturefd LLC raised its position in shares of Coupang by 34.7% in the fourth quarter. Signaturefd LLC now owns 3,193 shares of the company's stock worth $70,000 after buying an additional 822 shares in the last quarter. 83.72% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CPNG has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft upgraded 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 upgraded shares of Coupang to a "hold" rating in a research report on Friday, April 18th. Citigroup cut 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. Finally, Barclays set a $35.00 price target on shares of Coupang and gave the stock an "overweight" rating in a research note on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $29.17.

Coupang Stock Up 2.7 %

Coupang stock traded up $0.64 during trading hours on Friday, hitting $24.11. 5,618,806 shares of the stock traded hands, compared to its average volume of 7,724,061. Coupang, Inc. has a one year low of $18.16 and a one year high of $26.91. The firm's 50-day moving average price is $22.48 and its two-hundred day moving average price is $23.43. The company has a current ratio of 1.13, a quick ratio of 0.86 and a debt-to-equity ratio of 0.28. The company has a market cap of $43.53 billion, a PE ratio of 42.30, a PEG ratio of 52.20 and a beta of 1.09.

Insider Buying and Selling at Coupang

In related news, VP Pranam Kolari sold 8,459 shares of the firm's stock in a transaction that occurred on Monday, February 3rd. The stock was 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 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Benjamin Sun sold 250,000 shares of the business's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $23.43, for a total value 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 $40,286,034.03. This trade represents a 12.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 267,806 shares of company stock valued at $6,274,814. 13.60% of the stock is currently owned by company 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.