Coupang, Inc. (NYSE:CPNG) Position Cut by Handelsbanken Fonder AB

Handelsbanken Fonder AB lowered its position in shares of Coupang, Inc. (NYSE:CPNG) by 49.5% in the 4th quarter, Holdings Channel reports. The fund owned 446,856 shares of the company’s stock after selling 437,288 shares during the period. Handelsbanken Fonder AB’s holdings in Coupang were worth $9,822,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the company. FMR LLC raised its stake in Coupang by 32.0% during the 3rd quarter. FMR LLC now owns 27,153,608 shares of the company’s stock valued at $666,621,000 after acquiring an additional 6,584,910 shares in the last quarter. Coronation Fund Managers Ltd. increased 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 valued at $118,258,000 after purchasing an additional 2,802,325 shares during the period. Wellington Management Group LLP raised its stake in shares of Coupang by 43.2% during the third quarter. Wellington Management Group LLP now owns 8,630,058 shares of the company’s stock valued at $211,868,000 after purchasing an additional 2,603,046 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its holdings in Coupang by 762.2% in the third quarter. Jacobs Levy Equity Management Inc. now owns 2,798,782 shares of the company’s stock worth $68,710,000 after purchasing an additional 2,474,175 shares during the period. Finally, Ninety One UK Ltd bought a new position in Coupang in the 4th quarter valued at about $46,388,000. Institutional investors and hedge funds own 83.72% of the company’s stock.

Coupang Stock Down 1.3 %

NYSE CPNG opened at $24.80 on Friday. Coupang, Inc. has a 12 month low of $15.81 and a 12 month high of $26.91. The company has a market capitalization of $44.60 billion, a P/E ratio of 43.50, a PEG ratio of 52.20 and a beta of 1.11. The company’s 50 day simple moving average is $23.10 and its 200 day simple moving average is $23.82. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.13 and a quick ratio of 0.86.

Analyst Ratings Changes

A number of analysts have commented on the stock. Citigroup dropped 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. Barclays boosted their target price on Coupang from $32.00 to $34.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. 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, the company has a consensus rating of “Moderate Buy” and an average price target of $27.78.

Insiders Place Their Bets

In other news, VP Pranam Kolari sold 8,459 shares of the company’s stock in a transaction on Monday, February 3rd. The stock was 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 of the company’s stock, valued at $3,143,801.88. This represents a 5.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 13.60% of the stock is currently owned by company insiders.

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.