New York State Common Retirement Fund Cuts Stock Position in Coupang, Inc. (NYSE:CPNG)

New York State Common Retirement Fund decreased its position in shares of Coupang, Inc. (NYSE:CPNG) by 5.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,599,006 shares of the company’s stock after selling 86,058 shares during the period. New York State Common Retirement Fund owned approximately 0.09% of Coupang worth $25,888,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Duality Advisers LP grew its position in Coupang by 809.7% in the fourth quarter. Duality Advisers LP now owns 142,159 shares of the company’s stock worth $2,302,000 after acquiring an additional 126,532 shares in the last quarter. CWM LLC increased its holdings in Coupang by 6.6% during the fourth quarter. CWM LLC now owns 132,543 shares of the company’s stock valued at $2,146,000 after buying an additional 8,150 shares during the period. abrdn plc increased its holdings in Coupang by 118.9% during the fourth quarter. abrdn plc now owns 363,978 shares of the company’s stock valued at $6,195,000 after buying an additional 197,705 shares during the period. Flossbach Von Storch AG increased its holdings in Coupang by 5.3% during the fourth quarter. Flossbach Von Storch AG now owns 150,000 shares of the company’s stock valued at $2,428,000 after buying an additional 7,500 shares during the period. Finally, Mackenzie Financial Corp grew its holdings in Coupang by 111.6% in the fourth quarter. Mackenzie Financial Corp now owns 201,956 shares of the company’s stock worth $3,270,000 after purchasing an additional 106,509 shares during the last quarter. Hedge funds and other institutional investors own 83.72% of the company’s stock.

Insider Buying and Selling

In related news, Director Neil Mehta sold 1,600,000 shares of Coupang stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $18.68, for a total transaction of $29,888,000.00. Following the transaction, the director now owns 48,006,135 shares in the company, valued at $896,754,601.80. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, Director Neil Mehta sold 1,600,000 shares of Coupang stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $18.68, for a total transaction of $29,888,000.00. Following the transaction, the director now owns 48,006,135 shares in the company, valued at $896,754,601.80. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder Svf Investments (Uk) Ltd sold 31,614,154 shares of Coupang stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $19.01, for a total value of $600,985,067.54. Following the transaction, the insider now owns 364,542,259 shares in the company, valued at approximately $6,929,948,343.59. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 33,355,590 shares of company stock worth $633,443,979. 14.90% of the stock is owned by corporate insiders.

Coupang Stock Down 0.5 %

Shares of CPNG opened at $22.91 on Friday. The company has a current ratio of 1.14, a quick ratio of 0.90 and a debt-to-equity ratio of 0.13. Coupang, Inc. has a 12 month low of $13.51 and a 12 month high of $23.40. The stock’s 50 day moving average is $18.98 and its two-hundred day moving average is $17.00. The firm has a market cap of $41.08 billion, a P/E ratio of 30.55 and a beta of 1.32.

Coupang (NYSE:CPNG) last released its earnings results on Tuesday, February 27th. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.03. The business had revenue of $6.56 billion for the quarter, compared to the consensus estimate of $6.40 billion. Coupang had a return on equity of 15.04% and a net margin of 5.57%. The business’s quarterly revenue was up 23.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.06 earnings per share. Analysts predict that Coupang, Inc. will post 0.32 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have issued reports on CPNG. Citigroup raised shares of Coupang from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $19.00 to $26.00 in a report on Monday, April 15th. Barclays raised their target price on Coupang from $24.00 to $25.00 and gave the stock an “overweight” rating in a report on Thursday, February 29th. TheStreet raised Coupang from a “d+” rating to a “c-” rating in a report on Tuesday, March 5th. Finally, Deutsche Bank Aktiengesellschaft raised Coupang from a “hold” rating to a “buy” rating and raised their price objective for the company from $18.50 to $21.00 in a report on Thursday, February 29th. One equities research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $22.42.

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.