Coupang, Inc. (NYSE:CPNG) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund cut its holdings in shares of Coupang, Inc. (NYSE:CPNG) by 5.1% in the 4th quarter, Holdings Channel reports. The fund owned 1,599,006 shares of the company’s stock after selling 86,058 shares during the period. New York State Common Retirement Fund’s holdings in Coupang were worth $25,888,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Baillie Gifford & Co. grew its stake in Coupang by 21.6% in the fourth quarter. Baillie Gifford & Co. now owns 145,524,128 shares of the company’s stock worth $2,356,036,000 after purchasing an additional 25,843,034 shares in the last quarter. Pacer Advisors Inc. boosted its position in shares of Coupang by 104,032.2% during the fourth quarter. Pacer Advisors Inc. now owns 10,944,299 shares of the company’s stock worth $177,188,000 after buying an additional 10,933,789 shares during the period. Veritas Asset Management LLP boosted its position in shares of Coupang by 800.0% during the third quarter. Veritas Asset Management LLP now owns 1,350,000 shares of the company’s stock worth $22,950,000 after buying an additional 1,200,000 shares during the period. Assenagon Asset Management S.A. acquired a new stake in Coupang in the fourth quarter worth approximately $14,854,000. Finally, Bwcp LP acquired a new stake in Coupang in the third quarter worth approximately $12,569,000. 83.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Coupang Stock Down 0.5 %

CPNG stock opened at $22.91 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.14 and a quick ratio of 0.90. Coupang, Inc. has a 52-week low of $13.51 and a 52-week high of $23.40. The company has a 50-day moving average of $18.98 and a two-hundred day moving average of $17.00. The stock has a market capitalization of $41.08 billion, a price-to-earnings ratio of 30.55 and a beta of 1.32.

Coupang (NYSE:CPNG) last released its quarterly earnings results on Tuesday, February 27th. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.03. Coupang had a net margin of 5.57% and a return on equity of 15.04%. The company had revenue of $6.56 billion during the quarter, compared to analysts’ expectations of $6.40 billion. During the same period in the prior year, the company earned $0.06 earnings per share. The business’s quarterly revenue was up 23.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Coupang, Inc. will post 0.32 EPS for the current year.

Insider Buying and Selling at Coupang

In other Coupang news, major shareholder Svf Investments (Uk) Ltd sold 31,614,154 shares of the company’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $19.01, for a total transaction of $600,985,067.54. Following the completion of the sale, the insider now directly owns 364,542,259 shares in the company, valued at $6,929,948,343.59. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, major shareholder Svf Investments (Uk) Ltd sold 31,614,154 shares of the company’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $19.01, for a total transaction of $600,985,067.54. Following the completion of the transaction, the insider now owns 364,542,259 shares of the company’s stock, valued at $6,929,948,343.59. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Harold Rogers sold 139,080 shares of the company’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $18.25, for a total transaction of $2,538,210.00. Following the transaction, the insider now directly owns 394,192 shares of the company’s stock, valued at approximately $7,194,004. The disclosure for this sale can be found here. Insiders sold 33,355,590 shares of company stock worth $633,443,979 over the last ninety days. Company insiders own 14.90% of the company’s stock.

Coupang Company 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.