Los Angeles Capital Management LLC Sells 9,330 Shares of Coupang, Inc. (NYSE:CPNG)

Los Angeles Capital Management LLC lowered its holdings in shares of Coupang, Inc. (NYSE:CPNG) by 34.1% in the 4th quarter, HoldingsChannel reports. The firm owned 18,027 shares of the company’s stock after selling 9,330 shares during the period. Los Angeles Capital Management LLC’s holdings in Coupang were worth $396,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Assenagon Asset Management S.A. boosted its position in shares of Coupang by 85.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,100,183 shares of the company’s stock worth $24,182,000 after purchasing an additional 506,622 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in Coupang by 23.4% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 218,100 shares of the company’s stock worth $4,861,000 after buying an additional 41,384 shares during the period. Elevate Capital Advisors LLC bought a new position in Coupang in the fourth quarter worth approximately $2,618,000. Charles Schwab Investment Management Inc. grew its stake in Coupang by 22.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 759,286 shares of the company’s stock valued at $18,640,000 after acquiring an additional 138,416 shares during the period. Finally, abrdn plc increased its holdings in shares of Coupang by 40.2% during the third quarter. abrdn plc now owns 202,359 shares of the company’s stock valued at $4,968,000 after acquiring an additional 58,060 shares in the last quarter. 83.72% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CPNG has been the topic of a number of recent research reports. Barclays set a $35.00 target price on Coupang and gave the stock an “overweight” rating in a report on Thursday. Deutsche Bank Aktiengesellschaft raised shares of Coupang from a “hold” rating to a “buy” rating and set a $28.50 price objective on the stock in a research note on Wednesday, February 26th. Mizuho boosted their target price on shares of Coupang from $25.00 to $27.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 26th. Finally, 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. One equities 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.com, the company has an average rating of “Moderate Buy” and a consensus target price of $29.17.

Coupang Trading Up 0.6 %

NYSE:CPNG opened at $23.84 on Tuesday. Coupang, Inc. has a 52 week low of $17.34 and a 52 week high of $26.91. The firm has a 50-day moving average price of $23.24 and a two-hundred day moving average price of $23.90. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.86 and a current ratio of 1.13. The firm has a market cap of $42.88 billion, a price-to-earnings ratio of 41.83, a price-to-earnings-growth ratio of 52.20 and a beta of 1.11.

Insider Activity

In other news, VP Pranam Kolari sold 8,459 shares of Coupang 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 sale, the vice president now directly owns 136,806 shares in the company, valued at $3,143,801.88. The trade was a 5.82 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 13.60% of the stock is currently owned by corporate insiders.

Coupang 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.