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

Los Angeles Capital Management LLC trimmed its stake in shares of Coupang, Inc. (NYSE:CPNG) by 34.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 18,027 shares of the company’s stock after selling 9,330 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Coupang were worth $396,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Creative Planning grew its stake in Coupang by 27.6% during the third quarter. Creative Planning now owns 14,407 shares of the company’s stock worth $354,000 after buying an additional 3,117 shares in the last quarter. Raymond James & Associates boosted its position in shares of Coupang by 33.8% during the 3rd quarter. Raymond James & Associates now owns 157,963 shares of the company’s stock worth $3,878,000 after acquiring an additional 39,938 shares in the last quarter. abrdn plc increased its stake in Coupang by 40.2% in 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 during the last quarter. First Trust Direct Indexing L.P. acquired a new position in Coupang during the third quarter valued at approximately $292,000. Finally, Van ECK Associates Corp lifted its stake 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 during the last quarter. 83.72% of the stock is owned by institutional investors and hedge funds.

Coupang Stock Up 0.6 %

Shares of NYSE CPNG opened at $23.84 on Tuesday. The company has a 50 day simple moving average of $23.24 and a 200 day simple moving average of $23.90. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.13 and a quick ratio of 0.86. Coupang, Inc. has a 1 year low of $17.34 and a 1 year high of $26.91. The firm has a market cap of $42.88 billion, a PE ratio of 41.83, a price-to-earnings-growth ratio of 52.20 and a beta of 1.11.

Insider Buying and Selling at Coupang

In other Coupang news, 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 value of $194,387.82. Following the sale, the vice president now owns 136,806 shares in the company, valued at approximately $3,143,801.88. The trade was a 5.82 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 13.60% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.