Sumitomo Mitsui Trust Group Inc. Sells 34,221 Shares of Coupang, Inc. (NYSE:CPNG)

Sumitomo Mitsui Trust Group Inc. decreased its position in shares of Coupang, Inc. (NYSE:CPNG - Free Report) by 9.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 340,586 shares of the company's stock after selling 34,221 shares during the quarter. Sumitomo Mitsui Trust Group Inc.'s holdings in Coupang were worth $7,486,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. raised its holdings in Coupang by 85.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,100,183 shares of the company's stock worth $24,182,000 after purchasing an additional 506,622 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position 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 buying an additional 138,416 shares during the period. abrdn plc grew its holdings in shares of Coupang by 40.2% during the third 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. Plotkin Financial Advisors LLC purchased a new position in shares of Coupang during the third quarter worth about $491,000. Finally, Coronation Fund Managers Ltd. grew its holdings in shares of Coupang by 139.1% during the third quarter. Coronation Fund Managers Ltd. now owns 4,817,030 shares of the company's stock worth $118,258,000 after purchasing an additional 2,802,325 shares in the last quarter. Institutional investors own 83.72% of the company's stock.

Coupang Stock Up 1.2 %

Shares of NYSE CPNG traded up $0.30 during trading on Friday, reaching $25.30. The company had a trading volume of 8,734,027 shares, compared to its average volume of 5,871,385. Coupang, Inc. has a 12-month low of $15.14 and a 12-month high of $26.91. The stock has a market cap of $45.50 billion, a PE ratio of 44.38, a P/E/G ratio of 43.21 and a beta of 1.11. The business's 50-day moving average is $22.96 and its 200 day moving average is $23.67. The company has a quick ratio of 0.86, a current ratio of 1.13 and a debt-to-equity ratio of 0.28.

Insider Transactions at Coupang

In other news, VP Pranam Kolari sold 8,459 shares of the 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 sale, the vice president now directly owns 136,806 shares of the company's stock, 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 legal filing with the SEC, which is accessible through this link. Insiders own 13.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CPNG. Citigroup cut their price objective on Coupang from $31.00 to $28.00 and set a "buy" rating for the company in a report on Wednesday, January 8th. Barclays increased their price objective on Coupang from $32.00 to $34.00 and gave the stock an "overweight" rating in a report on Wednesday. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $27.78.

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.