New York State Common Retirement Fund Decreases Holdings in Coupang, Inc. (NYSE:CPNG)

New York State Common Retirement Fund lowered its position in Coupang, Inc. (NYSE:CPNG) by 5.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 668,529 shares of the company’s stock after selling 39,900 shares during the quarter. New York State Common Retirement Fund’s holdings in Coupang were worth $14,694,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Assenagon Asset Management S.A. lifted its holdings in shares of Coupang by 85.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,100,183 shares of the company’s stock worth $24,182,000 after acquiring an additional 506,622 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in Coupang by 23.4% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 218,100 shares of the company’s stock worth $4,861,000 after purchasing an additional 41,384 shares during the period. Elevate Capital Advisors LLC bought a new stake in Coupang in the fourth quarter worth $2,618,000. Charles Schwab Investment Management Inc. boosted its position in Coupang by 22.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 759,286 shares of the company’s stock valued at $18,640,000 after buying an additional 138,416 shares during the period. Finally, abrdn plc grew its stake in shares of Coupang by 40.2% during the third quarter. abrdn plc now owns 202,359 shares of the company’s stock valued at $4,968,000 after buying an additional 58,060 shares during the last quarter. Hedge funds and other institutional investors own 83.72% of the company’s stock.

Insider Transactions at Coupang

In other Coupang news, VP Pranam Kolari sold 8,459 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $22.98, for a total value of $194,387.82. Following the completion of the transaction, the vice president now directly owns 136,806 shares in the company, valued at approximately $3,143,801.88. This represents a 5.82 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 13.60% of the company’s stock.

Coupang Stock Down 1.3 %

NYSE CPNG opened at $24.80 on Monday. The business’s 50-day moving average is $23.10 and its 200 day moving average is $23.84. The stock has a market capitalization of $44.60 billion, a PE ratio of 43.50, a PEG ratio of 52.20 and a beta of 1.11. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.13 and a quick ratio of 0.86. Coupang, Inc. has a 1 year low of $15.81 and a 1 year high of $26.91.

Analysts Set New Price Targets

Several research analysts have recently commented on CPNG shares. Citigroup decreased their price objective on Coupang from $31.00 to $28.00 and set a “buy” rating on the stock in a report on Wednesday, January 8th. Barclays lifted their price target on Coupang from $32.00 to $34.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $27.78.

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.