Synovus Financial Corp Takes $368,000 Position in Coupang, Inc. (NYSE:CPNG)

Synovus Financial Corp acquired a new position in shares of Coupang, Inc. (NYSE:CPNG) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 16,724 shares of the company’s stock, valued at approximately $368,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CPNG. Pacer Advisors Inc. increased its holdings in shares of Coupang by 4.1% during the fourth quarter. Pacer Advisors Inc. now owns 11,502 shares of the company’s stock worth $253,000 after buying an additional 452 shares in the last quarter. Angeles Wealth Management LLC grew its position in Coupang by 0.8% during the 4th quarter. Angeles Wealth Management LLC now owns 55,074 shares of the company’s stock worth $1,211,000 after acquiring an additional 459 shares during the last quarter. IFP Advisors Inc increased its holdings in Coupang by 3.8% in the 4th quarter. IFP Advisors Inc now owns 12,734 shares of the company’s stock worth $280,000 after purchasing an additional 469 shares in the last quarter. Ignite Planners LLC raised its position in Coupang by 2.5% in the fourth quarter. Ignite Planners LLC now owns 20,162 shares of the company’s stock valued at $452,000 after purchasing an additional 483 shares during the last quarter. Finally, National Bank of Canada FI boosted its stake in shares of Coupang by 8.6% during the fourth quarter. National Bank of Canada FI now owns 6,944 shares of the company’s stock valued at $153,000 after purchasing an additional 548 shares in the last quarter. Institutional investors own 83.72% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on CPNG. Deutsche Bank Aktiengesellschaft raised Coupang from a “hold” rating to a “buy” rating and set a $28.50 price objective for the company in a research note on Wednesday, February 26th. Citigroup dropped their price target 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. Barclays set a $35.00 price objective on shares of Coupang and gave the stock an “overweight” rating in a research note on Thursday, February 27th. Finally, Mizuho lifted their target price on Coupang from $25.00 to $27.00 and gave the stock a “neutral” rating in a report on Wednesday, February 26th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $29.17.

Coupang Stock Performance

Shares of CPNG stock opened at $21.38 on Friday. The company has a quick ratio of 0.86, a current ratio of 1.13 and a debt-to-equity ratio of 0.28. Coupang, Inc. has a 52 week low of $18.16 and a 52 week high of $26.91. The firm has a 50 day moving average of $22.91 and a 200-day moving average of $23.60. The company has a market cap of $38.59 billion, a price-to-earnings ratio of 37.50, a price-to-earnings-growth ratio of 52.20 and a beta of 1.09.

Insider Buying and Selling at Coupang

In other news, VP Pranam Kolari sold 8,459 shares of the company’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 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Benjamin Sun sold 250,000 shares of Coupang stock in a transaction on Monday, March 17th. The shares were sold at an average price of $23.43, for a total transaction of $5,857,500.00. Following the completion of the sale, the director now directly 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 disclosure for this sale can be found here. Insiders own 13.60% of the company’s stock.

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.