Corebridge Financial Inc. Reduces Holdings in Coupang, Inc. (NYSE:CPNG)

Corebridge Financial Inc. reduced its position in Coupang, Inc. (NYSE:CPNG) by 4.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,357 shares of the company’s stock after selling 887 shares during the period. Corebridge Financial Inc.’s holdings in Coupang were worth $469,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Wingate Wealth Advisors Inc. acquired a new position in shares of Coupang in the fourth quarter worth about $26,000. Berbice Capital Management LLC acquired a new position in shares of Coupang in the 4th quarter valued at approximately $31,000. Allworth Financial LP raised its position in shares of Coupang by 11,033.3% in the 4th quarter. Allworth Financial LP now owns 2,004 shares of the company’s stock valued at $45,000 after purchasing an additional 1,986 shares in the last quarter. Signaturefd LLC boosted its stake in shares of Coupang by 34.7% during the 4th quarter. Signaturefd LLC now owns 3,193 shares of the company’s stock valued at $70,000 after buying an additional 822 shares during the last quarter. Finally, Atala Financial Inc acquired a new stake in shares of Coupang during the fourth quarter worth approximately $80,000. 83.72% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Benjamin Sun sold 250,000 shares of the business’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $23.43, for a total transaction of $5,857,500.00. Following the completion of the transaction, the director now owns 1,719,421 shares of the company’s stock, valued at approximately $40,286,034.03. The trade was a 12.69 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Pranam Kolari sold 8,459 shares of the company’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $22.98, for a total transaction of $194,387.82. Following the transaction, the vice president now owns 136,806 shares of the company’s stock, valued at $3,143,801.88. This represents a 5.82 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 13.60% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on CPNG shares. Barclays set a $35.00 price target on shares of Coupang and gave the company an “overweight” rating in a report on Thursday, February 27th. Citigroup cut their target price on shares of Coupang from $31.00 to $28.00 and set a “buy” rating on the stock in a research note on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft upgraded Coupang from a “hold” rating to a “buy” rating and set a $28.50 price target for the company in a research note on Wednesday, February 26th. Finally, Mizuho upped their price objective on Coupang from $25.00 to $27.00 and gave the company a “neutral” rating in a research note on Wednesday, February 26th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Coupang currently has a consensus rating of “Moderate Buy” and an average price target of $29.17.

Coupang Price Performance

CPNG opened at $19.77 on Wednesday. The company has a quick ratio of 0.86, a current ratio of 1.13 and a debt-to-equity ratio of 0.28. The company’s 50-day moving average price is $23.27 and its 200 day moving average price is $23.77. Coupang, Inc. has a fifty-two week low of $18.16 and a fifty-two week high of $26.91. The firm has a market cap of $35.69 billion, a price-to-earnings ratio of 34.68, a price-to-earnings-growth ratio of 52.20 and a beta of 1.09.

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.