Coupang, Inc. (NYSE:CPNG) Stock Holdings Cut by New York State Common Retirement Fund

New York State Common Retirement Fund reduced its position in shares of Coupang, Inc. (NYSE:CPNG) by 17.7% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 708,429 shares of the company’s stock after selling 152,014 shares during the quarter. New York State Common Retirement Fund’s holdings in Coupang were worth $17,392,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CPNG. Baader Bank Aktiengesellschaft boosted its stake in shares of Coupang by 5.7% during the 2nd quarter. Baader Bank Aktiengesellschaft now owns 10,567 shares of the company’s stock worth $219,000 after acquiring an additional 567 shares in the last quarter. Resonant Capital Advisors LLC boosted its stake in shares of Coupang by 6.0% during the 2nd quarter. Resonant Capital Advisors LLC now owns 11,197 shares of the company’s stock worth $235,000 after acquiring an additional 635 shares in the last quarter. National Bank of Canada FI boosted its stake in shares of Coupang by 15.4% during the 2nd quarter. National Bank of Canada FI now owns 6,687 shares of the company’s stock worth $141,000 after acquiring an additional 890 shares in the last quarter. Asset Dedication LLC boosted its stake in shares of Coupang by 438.1% during the 3rd quarter. Asset Dedication LLC now owns 1,216 shares of the company’s stock worth $30,000 after acquiring an additional 990 shares in the last quarter. Finally, TCW Group Inc. boosted its stake in shares of Coupang by 6.4% during the 2nd quarter. TCW Group Inc. now owns 16,781 shares of the company’s stock worth $352,000 after acquiring an additional 1,007 shares in the last quarter. 83.72% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

CPNG has been the subject of several research reports. CLSA raised Coupang from a “hold” rating to an “outperform” rating and raised their price objective for the stock from $18.00 to $31.00 in a research note on Wednesday, September 4th. Sanford C. Bernstein upgraded Coupang from an “underperform” rating to an “outperform” rating and set a $30.00 target price for the company in a report on Monday, October 7th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $27.56.

Insider Buying and Selling

In other Coupang news, Director Greenoaks Capital Partners Llc bought 100,000 shares of the stock in a transaction on Thursday, August 15th. The shares were purchased at an average cost of $22.39 per share, with a total value of $2,239,000.00. Following the completion of the transaction, the director now directly owns 50,376,224 shares of the company’s stock, valued at $1,127,923,655.36. This represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Coupang news, Director Greenoaks Capital Partners Llc bought 100,000 shares of the stock in a transaction on Thursday, August 15th. The shares were purchased at an average cost of $22.39 per share, with a total value of $2,239,000.00. Following the completion of the transaction, the director now directly owns 50,376,224 shares of the company’s stock, valued at $1,127,923,655.36. This represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Benjamin Sun sold 200,000 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $23.36, for a total transaction of $4,672,000.00. Following the transaction, the director now directly owns 1,969,421 shares in the company, valued at $46,005,674.56. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders bought 601,300 shares of company stock worth $13,604,354 and sold 400,956 shares worth $9,245,164. 13.60% of the stock is owned by corporate insiders.

Coupang Price Performance

Shares of NYSE:CPNG opened at $26.89 on Wednesday. The company has a current ratio of 1.12, a quick ratio of 0.87 and a debt-to-equity ratio of 0.72. Coupang, Inc. has a 1 year low of $13.51 and a 1 year high of $26.91. The business has a fifty day simple moving average of $24.45 and a 200 day simple moving average of $22.75. The firm has a market cap of $48.23 billion, a price-to-earnings ratio of 46.36 and a beta of 1.10.

Coupang (NYSE:CPNG) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.08. Coupang had a return on equity of 12.04% and a net margin of 3.87%. The business had revenue of $7.32 billion during the quarter, compared to analyst estimates of $7.39 billion. During the same period last year, the company earned $0.08 earnings per share. Coupang’s quarterly revenue was up 25.4% compared to the same quarter last year. As a group, sell-side analysts predict that Coupang, Inc. will post -0.03 earnings per share for the current fiscal year.

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.