abrdn plc Trims Stock Holdings in Coupang, Inc. (NYSE:CPNG)

abrdn plc decreased its position in shares of Coupang, Inc. (NYSE:CPNG - Free Report) by 9.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 184,238 shares of the company's stock after selling 18,121 shares during the period. abrdn plc's holdings in Coupang were worth $4,094,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in CPNG. Assenagon Asset Management S.A. increased its holdings 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 valued at $24,182,000 after purchasing an additional 506,622 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Coupang by 22.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 759,286 shares of the company's stock valued at $18,640,000 after purchasing an additional 138,416 shares during the period. Plotkin Financial Advisors LLC acquired a new position in shares of Coupang in the third quarter valued at approximately $491,000. Coronation Fund Managers Ltd. increased its holdings in shares of Coupang by 139.1% in the third quarter. Coronation Fund Managers Ltd. now owns 4,817,030 shares of the company's stock valued at $118,258,000 after purchasing an additional 2,802,325 shares during the period. Finally, Royal London Asset Management Ltd. boosted its stake in shares of Coupang by 7.6% in the third quarter. Royal London Asset Management Ltd. now owns 477,021 shares of the company's stock valued at $11,711,000 after buying an additional 33,701 shares in the last quarter. Institutional investors and hedge funds own 83.72% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on CPNG shares. Barclays lifted their price target on Coupang from $32.00 to $34.00 and gave the company an "overweight" rating in a research note on Wednesday. Citigroup decreased their price target on Coupang from $31.00 to $28.00 and set a "buy" rating on the stock in a research note on Wednesday, January 8th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $27.78.

Coupang Price Performance

CPNG traded up $1.34 during trading on Thursday, reaching $24.97. 18,200,584 shares of the stock were exchanged, compared to its average volume of 7,425,001. The business's 50 day moving average price is $22.93 and its two-hundred day moving average price is $23.59. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.13 and a quick ratio of 0.86. The company has a market capitalization of $44.92 billion, a price-to-earnings ratio of 43.81, a P/E/G ratio of 43.21 and a beta of 1.11. Coupang, Inc. has a 1 year low of $14.74 and a 1 year high of $26.91.

Insider Transactions at Coupang

In related news, VP Pranam Kolari sold 8,459 shares of the company's stock in a transaction on Monday, February 3rd. The stock was 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 13.60% of the company's stock.

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.