Coupang, Inc. (NYSE:CPNG) Holdings Decreased by California Public Employees Retirement System

California Public Employees Retirement System decreased its position in Coupang, Inc. (NYSE:CPNG - Free Report) by 5.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,505,482 shares of the company's stock after selling 87,740 shares during the quarter. California Public Employees Retirement System owned 0.08% of Coupang worth $33,090,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Norges Bank acquired a new position in shares of Coupang in the fourth quarter worth about $404,896,000. Wellington Management Group LLP increased its holdings in Coupang by 43.2% during the 3rd quarter. Wellington Management Group LLP now owns 8,630,058 shares of the company's stock worth $211,868,000 after purchasing an additional 2,603,046 shares during the last quarter. Coronation Fund Managers Ltd. raised its position in shares of Coupang by 53.3% in the 4th quarter. Coronation Fund Managers Ltd. now owns 7,383,611 shares of the company's stock valued at $162,292,000 after purchasing an additional 2,566,581 shares in the last quarter. Ninety One UK Ltd purchased a new position in shares of Coupang during the 4th quarter valued at approximately $46,388,000. Finally, Lord Abbett & CO. LLC grew its position in shares of Coupang by 269.3% during the third quarter. Lord Abbett & CO. LLC now owns 1,292,886 shares of the company's stock worth $31,740,000 after buying an additional 942,839 shares in 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 Benjamin Sun sold 250,000 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $23.43, for a total value of $5,857,500.00. Following the sale, the director now owns 1,719,421 shares of the company's stock, valued at $40,286,034.03. This trade represents a 12.69 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Pranam Kolari sold 8,459 shares of the business's stock in a transaction dated Monday, February 3rd. The shares were 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 of the company's stock, valued at $3,143,801.88. The trade was a 5.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 13.60% of the company's stock.

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Coupang Stock Performance

CPNG stock traded down $0.35 during midday trading on Monday, reaching $19.71. The company had a trading volume of 15,402,976 shares, compared to its average volume of 8,448,940. The firm has a market capitalization of $35.59 billion, a PE ratio of 34.59, a P/E/G ratio of 52.20 and a beta of 1.09. The stock has a 50 day moving average price of $23.40 and a 200 day moving average price of $23.83. Coupang, Inc. has a fifty-two week low of $18.16 and a fifty-two week high of $26.91. The company has a quick ratio of 0.86, a current ratio of 1.13 and a debt-to-equity ratio of 0.28.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Barclays set a $35.00 price target on shares of Coupang and gave the company an "overweight" rating in a report on Thursday, February 27th. Citigroup reduced their price target on shares of Coupang from $31.00 to $28.00 and set a "buy" rating on the stock in a research report on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft upgraded Coupang from a "hold" rating to a "buy" rating and set a $28.50 price target for the company in a research note on Wednesday, February 26th. Finally, Mizuho upped their price objective on Coupang from $25.00 to $27.00 and gave the company a "neutral" rating in a research note on Wednesday, February 26th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $29.17.

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.