Coupang, Inc. $CPNG Shares Bought by New York State Common Retirement Fund

New York State Common Retirement Fund grew its position in Coupang, Inc. (NYSE:CPNGFree Report) by 18.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 728,861 shares of the company’s stock after purchasing an additional 113,950 shares during the quarter. New York State Common Retirement Fund’s holdings in Coupang were worth $23,469,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CPNG. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in Coupang by 4.6% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 7,436 shares of the company’s stock valued at $239,000 after buying an additional 330 shares in the last quarter. Sequoia Financial Advisors LLC boosted its holdings in Coupang by 0.5% in the second quarter. Sequoia Financial Advisors LLC now owns 68,468 shares of the company’s stock worth $2,051,000 after acquiring an additional 363 shares in the last quarter. CIBC Asset Management Inc grew its stake in shares of Coupang by 0.6% during the third quarter. CIBC Asset Management Inc now owns 65,029 shares of the company’s stock worth $2,094,000 after acquiring an additional 364 shares during the last quarter. Resonant Capital Advisors LLC increased its holdings in shares of Coupang by 2.9% during the third quarter. Resonant Capital Advisors LLC now owns 13,088 shares of the company’s stock valued at $421,000 after acquiring an additional 374 shares in the last quarter. Finally, Merit Financial Group LLC raised its position in shares of Coupang by 2.7% in the 3rd quarter. Merit Financial Group LLC now owns 15,862 shares of the company’s stock valued at $511,000 after purchasing an additional 418 shares during the last quarter. Hedge funds and other institutional investors own 83.72% of the company’s stock.

Wall Street Analyst Weigh In

CPNG has been the topic of several research analyst reports. Barclays boosted their target price on shares of Coupang from $36.00 to $40.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 11th. Mizuho boosted their price objective on shares of Coupang from $30.00 to $32.00 and gave the company a “neutral” rating in a report on Thursday, November 6th. Zacks Research upgraded Coupang from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 4th. Deutsche Bank Aktiengesellschaft raised Coupang from a “hold” rating to a “buy” rating and set a $25.00 price target for the company in a research report on Friday, January 16th. Finally, Bank of America increased their price objective on Coupang from $36.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday, November 5th. Five research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $32.57.

View Our Latest Research Report on Coupang

Insider Activity at Coupang

In related news, CAO Jonathan D. Lee sold 2,679 shares of the stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $23.62, for a total transaction of $63,277.98. Following the sale, the chief accounting officer directly owned 122,096 shares of the company’s stock, valued at approximately $2,883,907.52. This represents a 2.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Pranam Kolari sold 11,653 shares of the firm’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $31.98, for a total transaction of $372,662.94. Following the sale, the vice president owned 147,023 shares in the company, valued at approximately $4,701,795.54. This represents a 7.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 12.78% of the company’s stock.

Key Coupang News

Here are the key news stories impacting Coupang this week:

Coupang Price Performance

Shares of CPNG opened at $20.16 on Friday. The business’s 50-day moving average is $23.59 and its two-hundred day moving average is $28.00. The company has a market capitalization of $36.83 billion, a P/E ratio of 96.00 and a beta of 1.20. Coupang, Inc. has a fifty-two week low of $18.55 and a fifty-two week high of $34.08. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.82 and a current ratio of 1.06.

Coupang (NYSE:CPNGGet Free Report) last issued its quarterly earnings data on Tuesday, November 4th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.01. Coupang had a return on equity of 6.95% and a net margin of 1.16%.The business had revenue of $9.27 billion during the quarter, compared to analysts’ expectations of $9.13 billion. During the same quarter in the previous year, the firm posted $0.06 EPS. The company’s revenue for the quarter was up 17.8% on a year-over-year basis. Research analysts predict that Coupang, Inc. will post 0.17 earnings per share for the current year.

About Coupang

(Free Report)

Coupang, listed on the New York Stock Exchange under the ticker CPNG, is a South Korean e-commerce company headquartered in Seoul. Founded in 2010 by Bom Kim, the company grew rapidly by combining an online marketplace with a large direct-retail business model. Coupang completed a primary listing in the United States in 2021, and it has become one of South Korea’s leading online retailers by focusing on convenience, speed and a wide product assortment across consumer categories.

The company operates a vertically integrated e-commerce platform that includes a customer-facing marketplace and an extensive logistics and fulfillment network.

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Institutional Ownership by Quarter for Coupang (NYSE:CPNG)

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