Alberta Investment Management Corp Increases Position in Coupang, Inc. (NYSE:CPNG)

Alberta Investment Management Corp lifted its stake in shares of Coupang, Inc. (NYSE:CPNG - Free Report) by 7.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 481,908 shares of the company's stock after purchasing an additional 31,423 shares during the period. Alberta Investment Management Corp's holdings in Coupang were worth $10,592,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in CPNG. Assenagon Asset Management S.A. raised its stake in Coupang by 85.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,100,183 shares of the company's stock valued at $24,182,000 after acquiring an additional 506,622 shares during the period. Elevate Capital Advisors LLC acquired a new stake in shares of Coupang during the 4th quarter worth $2,618,000. Charles Schwab Investment Management Inc. grew its holdings in shares of Coupang by 22.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 759,286 shares of the company's stock worth $18,640,000 after purchasing an additional 138,416 shares in the last quarter. abrdn plc grew its holdings in shares of Coupang by 40.2% during the 3rd quarter. abrdn plc now owns 202,359 shares of the company's stock worth $4,968,000 after purchasing an additional 58,060 shares in the last quarter. Finally, Plotkin Financial Advisors LLC acquired a new stake in shares of Coupang during the 3rd quarter worth $491,000. Institutional investors own 83.72% of the company's stock.

Coupang Price Performance

Shares of CPNG traded down $0.34 during midday trading on Friday, reaching $24.80. The stock had a trading volume of 4,141,657 shares, compared to its average volume of 7,419,647. The company's 50-day moving average is $23.08 and its 200 day moving average is $23.76. The company has a market capitalization of $44.60 billion, a price-to-earnings ratio of 43.50, a price-to-earnings-growth ratio of 53.01 and a beta of 1.11. The company has a current ratio of 1.13, a quick ratio of 0.86 and a debt-to-equity ratio of 0.28. Coupang, Inc. has a 12-month low of $15.81 and a 12-month high of $26.91.

Analysts Set New Price Targets

Several research firms recently weighed in on CPNG. Citigroup reduced their price objective on Coupang from $31.00 to $28.00 and set a "buy" rating on the stock in a research note on Wednesday, January 8th. 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, February 12th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $27.78.

Insider Transactions at Coupang

In related news, VP Pranam Kolari sold 8,459 shares of Coupang stock in a transaction 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 in the company, valued at approximately $3,143,801.88. The trade was a 5.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate 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.