Coupang, Inc. (NYSE:CPNG) Position Reduced by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. decreased its position in shares of Coupang, Inc. (NYSE:CPNG) by 9.1% during the 4th quarter, Holdings Channel.com reports. The firm owned 340,586 shares of the company’s stock after selling 34,221 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Coupang were worth $7,486,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CPNG. Brooklyn Investment Group bought a new stake in Coupang during the third quarter worth approximately $28,000. Asset Dedication LLC raised its holdings in Coupang by 438.1% during the third quarter. Asset Dedication LLC now owns 1,216 shares of the company’s stock worth $30,000 after purchasing an additional 990 shares in the last quarter. Berbice Capital Management LLC bought a new stake in Coupang during the fourth quarter worth approximately $31,000. Van ECK Associates Corp raised its holdings in Coupang by 63.1% during the third quarter. Van ECK Associates Corp now owns 1,251 shares of the company’s stock worth $32,000 after purchasing an additional 484 shares in the last quarter. Finally, Wolff Wiese Magana LLC raised its holdings in Coupang by 330.4% during the third quarter. Wolff Wiese Magana LLC now owns 1,687 shares of the company’s stock worth $41,000 after purchasing an additional 1,295 shares in the last quarter. Institutional investors own 83.72% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Citigroup dropped their price target on Coupang from $31.00 to $28.00 and set a “buy” rating on the stock in a report on Wednesday, January 8th. Barclays upped their price target on Coupang from $32.00 to $34.00 and gave the company an “overweight” rating in a report on Wednesday. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $27.78.

Coupang Trading Down 0.8 %

NYSE CPNG opened at $23.65 on Thursday. Coupang, Inc. has a twelve month low of $14.51 and a twelve month high of $26.91. 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 stock has a market cap of $42.54 billion, a price-to-earnings ratio of 41.49, a PEG ratio of 43.21 and a beta of 1.11. The firm’s 50 day moving average price is $22.91 and its two-hundred day moving average price is $23.58.

Insider Activity

In related news, VP Pranam Kolari sold 8,459 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $22.98, for a total value of $194,387.82. Following the completion of the sale, the vice president now directly owns 136,806 shares in the company, valued at approximately $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 accessible through this link. 13.60% of the stock is currently owned by corporate 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.