California Public Employees Retirement System Trims Stake in Coupang, Inc. (NYSE:CPNG)

California Public Employees Retirement System lessened its stake in shares of Coupang, Inc. (NYSE:CPNG) by 5.5% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 1,505,482 shares of the company’s stock after selling 87,740 shares during the period. California Public Employees Retirement System owned 0.08% of Coupang worth $33,090,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Pacer Advisors Inc. grew its stake in shares of Coupang by 4.1% during the 4th quarter. Pacer Advisors Inc. now owns 11,502 shares of the company’s stock valued at $253,000 after acquiring an additional 452 shares during the period. Angeles Wealth Management LLC increased its stake in shares of Coupang by 0.8% in the fourth quarter. Angeles Wealth Management LLC now owns 55,074 shares of the company’s stock worth $1,211,000 after purchasing an additional 459 shares in the last quarter. IFP Advisors Inc increased its stake in shares of Coupang by 3.8% in the fourth quarter. IFP Advisors Inc now owns 12,734 shares of the company’s stock worth $280,000 after purchasing an additional 469 shares in the last quarter. Ignite Planners LLC raised its position in shares of Coupang by 2.5% during the 4th quarter. Ignite Planners LLC now owns 20,162 shares of the company’s stock valued at $452,000 after purchasing an additional 483 shares during the period. Finally, Janus Henderson Group PLC lifted its stake in shares of Coupang by 2.2% during the 3rd quarter. Janus Henderson Group PLC now owns 34,598 shares of the company’s stock valued at $850,000 after buying an additional 747 shares in the last quarter. Hedge funds and other institutional investors own 83.72% of the company’s stock.

Analyst Upgrades and Downgrades

CPNG has been the subject of several research analyst reports. Barclays set a $35.00 target price on Coupang and gave the stock an “overweight” rating in a research report on Thursday, February 27th. Deutsche Bank Aktiengesellschaft upgraded shares of Coupang from a “hold” rating to a “buy” rating and set a $28.50 target price on the stock in a research report on Wednesday, February 26th. Citigroup lowered their price target on Coupang from $31.00 to $28.00 and set a “buy” rating for the company in a research report on Wednesday, January 8th. Finally, Mizuho raised their price objective on shares of Coupang from $25.00 to $27.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 26th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, Coupang presently has a consensus rating of “Moderate Buy” and an average price target of $29.17.

Coupang Price Performance

Shares of Coupang stock opened at $22.51 on Thursday. The company has a quick ratio of 0.86, a current ratio of 1.13 and a debt-to-equity ratio of 0.28. The firm has a market cap of $40.64 billion, a PE ratio of 39.49, a P/E/G ratio of 52.20 and a beta of 1.10. The business has a 50-day moving average price of $23.52 and a 200 day moving average price of $23.91. Coupang, Inc. has a twelve month low of $18.14 and a twelve month high of $26.91.

Insider Activity

In other news, Director Benjamin Sun sold 250,000 shares of the company’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $23.43, for a total value of $5,857,500.00. Following the transaction, the director now owns 1,719,421 shares of the company’s stock, valued at $40,286,034.03. This represents a 12.69 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Pranam Kolari sold 8,459 shares of the business’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 transaction of $194,387.82. Following the completion of the sale, the vice president now directly owns 136,806 shares in the company, valued at $3,143,801.88. This trade represents 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.

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.