Integrated Wealth Concepts LLC Has $1.53 Million Stock Holdings in Coupang, Inc. (NYSE:CPNG)

Integrated Wealth Concepts LLC lifted its holdings in Coupang, Inc. (NYSE:CPNG) by 473.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 69,478 shares of the company’s stock after buying an additional 57,368 shares during the period. Integrated Wealth Concepts LLC’s holdings in Coupang were worth $1,527,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Assenagon Asset Management S.A. boosted its position in shares of Coupang by 85.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,100,183 shares of the company’s stock worth $24,182,000 after buying an additional 506,622 shares during the period. Allspring Global Investments Holdings LLC boosted its position in shares of Coupang by 23.4% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 218,100 shares of the company’s stock worth $4,861,000 after buying an additional 41,384 shares during the period. Elevate Capital Advisors LLC purchased a new stake in shares of Coupang during the fourth quarter worth $2,618,000. New York Life Investment Management LLC purchased a new stake in shares of Coupang during the fourth quarter worth $349,000. Finally, Ninety One UK Ltd purchased a new stake in shares of Coupang during the fourth quarter worth $46,388,000. Institutional investors and hedge funds own 83.72% of the company’s stock.

Insider Buying and Selling

In related news, Director Benjamin Sun sold 250,000 shares of the business’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $23.43, for a total transaction of $5,857,500.00. Following the completion of the transaction, the director now owns 1,719,421 shares of the company’s stock, valued at approximately $40,286,034.03. The trade was a 12.69 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Pranam Kolari sold 8,459 shares of the business’s 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 transaction, the vice president now directly owns 136,806 shares of the company’s stock, valued at $3,143,801.88. This represents a 5.82 % decrease in their position. The disclosure for this sale can be found here. 13.60% of the stock is owned by insiders.

Coupang Trading Down 0.1 %

Coupang stock opened at $23.42 on Tuesday. Coupang, Inc. has a 52 week low of $18.16 and a 52 week high of $26.91. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.86 and a current ratio of 1.13. The firm has a market capitalization of $42.28 billion, a PE ratio of 41.09, a PEG ratio of 52.20 and a beta of 1.09. The business’s 50-day simple moving average is $22.57 and its 200-day simple moving average is $23.45.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Citigroup cut their price objective on Coupang from $31.00 to $28.00 and set a “buy” rating for the company in a report on Wednesday, January 8th. Mizuho upgraded Coupang to a “hold” rating in a report on Friday, April 18th. Barclays set a $35.00 price objective on Coupang and gave the stock an “overweight” rating in a report on Thursday, February 27th. Finally, Deutsche Bank Aktiengesellschaft upgraded Coupang from a “hold” rating to a “buy” rating and set a $28.50 price objective for the company in a report on Wednesday, February 26th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $29.17.

Coupang 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.