Coupang, Inc. (NYSE:CPNG) Shares Sold by Handelsbanken Fonder AB

Handelsbanken Fonder AB reduced its stake in Coupang, Inc. (NYSE:CPNG) by 49.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 446,856 shares of the company’s stock after selling 437,288 shares during the period. Handelsbanken Fonder AB’s holdings in Coupang were worth $9,822,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in CPNG. Brooklyn Investment Group acquired a new position in shares of Coupang during the third quarter worth $28,000. Wingate Wealth Advisors Inc. purchased a new stake in Coupang during the 4th quarter worth $26,000. Van ECK Associates Corp increased its stake in Coupang by 63.1% during the 3rd quarter. Van ECK Associates Corp now owns 1,251 shares of the company’s stock worth $32,000 after buying an additional 484 shares during the period. Berbice Capital Management LLC acquired a new position in Coupang in the 4th quarter worth $31,000. Finally, Allworth Financial LP boosted its position in 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 buying an additional 1,986 shares during the last quarter. 83.72% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CPNG. Barclays lifted their target price on Coupang from $32.00 to $34.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. Citigroup dropped their price objective on Coupang from $31.00 to $28.00 and set a “buy” rating on the stock in a report on Wednesday, January 8th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Coupang currently has a consensus rating of “Moderate Buy” and an average target price of $27.78.

Insiders Place Their Bets

In other Coupang news, VP Pranam Kolari sold 8,459 shares of the firm’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $22.98, for a total value 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 trade represents a 5.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 13.60% of the stock is currently owned by corporate insiders.

Coupang Price Performance

Shares of CPNG opened at $24.80 on Friday. The company has a current ratio of 1.13, a quick ratio of 0.86 and a debt-to-equity ratio of 0.28. The firm has a market cap of $44.60 billion, a price-to-earnings ratio of 43.50, a PEG ratio of 52.20 and a beta of 1.11. Coupang, Inc. has a 52 week low of $15.81 and a 52 week high of $26.91. The stock has a 50 day moving average of $23.10 and a 200-day moving average of $23.82.

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.