Coupang (NYSE:CPNG) Given New $34.00 Price Target at Barclays

Coupang (NYSE:CPNG) had its price target upped by Barclays from $32.00 to $34.00 in a research report report published on Wednesday morning,Benzinga reports. They currently have an overweight rating on the stock.

Separately, Citigroup lowered their target price on Coupang from $31.00 to $28.00 and set a “buy” rating on the stock in a research note 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 data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $27.78.

Coupang Trading Down 0.8 %

NYSE CPNG opened at $23.65 on Wednesday. The stock has a market capitalization of $42.54 billion, a price-to-earnings ratio of 41.49, a PEG ratio of 43.21 and a beta of 1.11. Coupang has a one year low of $14.51 and a one year high of $26.91. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.13 and a quick ratio of 0.86. The business’s fifty day moving average is $22.91 and its 200-day moving average is $23.58.

Insider Activity at Coupang

In other news, VP Pranam Kolari sold 8,459 shares of the company’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $22.98, for a total transaction of $194,387.82. Following the sale, the vice president now directly owns 136,806 shares in the company, valued at $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 SEC, which is available at this link. 13.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Coupang

Several hedge funds and other institutional investors have recently modified their holdings of CPNG. Cetera Investment Advisers increased its position in shares of Coupang by 122.7% during the second quarter. Cetera Investment Advisers now owns 65,332 shares of the company’s stock valued at $1,369,000 after buying an additional 35,992 shares during the period. Sanctuary Advisors LLC purchased a new position in shares of Coupang during the second quarter worth about $243,000. Northwest Capital Management Inc bought a new position in shares of Coupang in the third quarter worth approximately $87,000. Creative Planning increased its position in shares of Coupang by 27.6% in the third quarter. Creative Planning now owns 14,407 shares of the company’s stock worth $354,000 after purchasing an additional 3,117 shares during the last quarter. Finally, Asset Dedication LLC increased its position in shares of Coupang by 438.1% in the third quarter. Asset Dedication LLC now owns 1,216 shares of the company’s stock worth $30,000 after purchasing an additional 990 shares during the last quarter. 83.72% of the stock is currently owned by institutional investors.

About Coupang

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.