Sax Wealth Advisors LLC Decreases Stock Position in Coupang, Inc. (NYSE:CPNG)

Sax Wealth Advisors LLC reduced its holdings in shares of Coupang, Inc. (NYSE:CPNG) by 2.0% in the 4th quarter, HoldingsChannel.com reports. The fund owned 63,696 shares of the company’s stock after selling 1,329 shares during the period. Sax Wealth Advisors LLC’s holdings in Coupang were worth $1,400,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CPNG. Avanza Fonder AB acquired a new position in shares of Coupang during the 4th quarter worth approximately $2,729,000. Hennion & Walsh Asset Management Inc. raised its holdings in shares of Coupang by 21.7% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 66,851 shares of the company’s stock worth $1,469,000 after acquiring an additional 11,914 shares during the last quarter. Park Avenue Securities LLC purchased a new stake in shares of Coupang in the fourth quarter valued at $300,000. Assenagon Asset Management S.A. boosted its stake in shares of Coupang by 85.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,100,183 shares of the company’s stock valued at $24,182,000 after acquiring an additional 506,622 shares during the last quarter. Finally, Oak Thistle LLC purchased a new stake in Coupang during the 4th quarter worth about $1,651,000. Institutional investors and hedge funds own 83.72% of the company’s stock.

Insider Buying and Selling

In other news, CEO Bom Kim sold 15,000,000 shares of the company’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $22.97, for a total value of $344,550,000.00. Following the completion of the sale, the chief executive officer now owns 2,000,000 shares of the company’s stock, valued at $45,940,000. This represents a 88.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Greenoaks Capital Partners Llc bought 687,700 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were bought at an average price of $24.08 per share, for a total transaction of $16,559,816.00. Following the completion of the acquisition, the director now owns 52,726,423 shares in the company, valued at approximately $1,269,652,265.84. This trade represents a 1.32 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 13.60% of the company’s stock.

Coupang Stock Down 1.1 %

Shares of NYSE CPNG opened at $22.09 on Friday. The stock has a market capitalization of $39.73 billion, a PE ratio of 38.75, a P/E/G ratio of 34.64 and a beta of 1.10. The company has a quick ratio of 0.86, a current ratio of 1.13 and a debt-to-equity ratio of 0.28. The firm has a fifty day moving average of $23.50 and a 200-day moving average of $23.27. Coupang, Inc. has a 52-week low of $13.51 and a 52-week high of $26.91.

Coupang (NYSE:CPNG) last announced its quarterly earnings results on Tuesday, November 5th. The company reported $0.06 EPS for the quarter, topping the consensus estimate of $0.01 by $0.05. The company had revenue of $7.87 billion during the quarter, compared to analyst estimates of $7.76 billion. Coupang had a return on equity of 11.52% and a net margin of 3.57%. The firm’s revenue was up 27.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.05 earnings per share. On average, analysts anticipate that Coupang, Inc. will post 0.11 EPS for the current year.

Analysts Set New Price Targets

CPNG has been the topic of a number of recent research reports. Sanford C. Bernstein upgraded shares of Coupang from an “underperform” rating to an “outperform” rating and set a $30.00 target price on the stock in a report on Monday, October 7th. Citigroup decreased their target price 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. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $27.56.

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.