New York State Common Retirement Fund Lowers Position in Coupang, Inc. (NYSE:CPNG)

New York State Common Retirement Fund cut its stake in shares of Coupang, Inc. (NYSE:CPNG) by 5.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 668,529 shares of the company’s stock after selling 39,900 shares during the period. New York State Common Retirement Fund’s holdings in Coupang were worth $14,694,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of CPNG. Wingate Wealth Advisors Inc. purchased a new stake in shares of Coupang in the fourth quarter valued at about $26,000. Brooklyn Investment Group purchased a new stake in Coupang in the 3rd quarter valued at about $28,000. Berbice Capital Management LLC bought a new position in shares of Coupang during the 4th quarter worth approximately $31,000. Van ECK Associates Corp lifted its position in shares of Coupang by 63.1% during the 3rd quarter. Van ECK Associates Corp now owns 1,251 shares of the company’s stock worth $32,000 after buying an additional 484 shares in the last quarter. Finally, Allworth Financial LP boosted its stake in shares of Coupang by 11,033.3% in the 4th quarter. Allworth Financial LP now owns 2,004 shares of the company’s stock worth $45,000 after buying an additional 1,986 shares during the last quarter. 83.72% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on the company. Barclays increased their price target on Coupang from $32.00 to $34.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. Citigroup decreased their target price on Coupang from $31.00 to $28.00 and set a “buy” rating for the company in a research report on Wednesday, January 8th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $27.78.

Insider Buying and Selling

In related news, VP Pranam Kolari sold 8,459 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The shares were 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 of the company’s stock, valued at approximately $3,143,801.88. This trade represents a 5.82 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 13.60% of the stock is currently owned by insiders.

Coupang Stock Performance

Shares of CPNG opened at $24.80 on Monday. Coupang, Inc. has a 1 year low of $15.81 and a 1 year high of $26.91. 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 stock’s fifty day moving average price is $23.10 and its two-hundred day moving average price is $23.84. The firm has a market cap of $44.60 billion, a PE ratio of 43.50, a PEG ratio of 52.20 and a beta of 1.11.

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.