Nuveen Asset Management LLC Sells 174,508 Shares of Coupang, Inc. (NYSE:CPNG)

Nuveen Asset Management LLC reduced its position in shares of Coupang, Inc. (NYSE:CPNG - Free Report) by 5.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,011,735 shares of the company's stock after selling 174,508 shares during the quarter. Nuveen Asset Management LLC owned 0.17% of Coupang worth $66,198,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD increased its holdings in shares of Coupang by 29.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 75,686,648 shares of the company's stock worth $1,663,594,000 after buying an additional 17,123,637 shares during the last quarter. FMR LLC grew its position in Coupang by 9.1% during the 4th quarter. FMR LLC now owns 29,619,581 shares of the company's stock worth $651,038,000 after purchasing an additional 2,465,973 shares during the period. Durable Capital Partners LP grew its position in Coupang by 13.6% during the fourth quarter. Durable Capital Partners LP now owns 28,636,287 shares of the company's stock valued at $629,426,000 after buying an additional 3,420,133 shares during the period. Dragoneer Investment Group LLC raised its stake in shares of Coupang by 9.0% during the 4th quarter. Dragoneer Investment Group LLC now owns 20,541,277 shares of the company's stock worth $451,497,000 after buying an additional 1,690,826 shares during the period. Finally, Dodge & Cox increased its stake in Coupang by 0.6% during the 4th quarter. Dodge & Cox now owns 20,229,320 shares of the company's stock worth $444,640,000 after buying an additional 123,900 shares in the last quarter. 83.72% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on CPNG shares. Barclays boosted their price objective on shares of Coupang from $35.00 to $36.00 and gave the company an "overweight" rating in a report on Thursday, May 8th. Deutsche Bank Aktiengesellschaft upgraded shares of Coupang from a "hold" rating to a "buy" rating and set a $28.50 target price for the company in a research note on Wednesday, February 26th. Finally, Mizuho upgraded Coupang to a "hold" rating in a research report on Friday, April 18th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $29.64.

Coupang Stock Performance

Shares of CPNG traded up $0.30 during trading hours on Wednesday, reaching $27.42. 13,943,159 shares of the company traded hands, compared to its average volume of 7,896,455. Coupang, Inc. has a 1-year low of $18.16 and a 1-year high of $27.73. 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's fifty day moving average is $23.21 and its 200 day moving average is $23.47. The stock has a market cap of $49.78 billion, a P/E ratio of 48.10, a price-to-earnings-growth ratio of 52.20 and a beta of 1.08.

Coupang (NYSE:CPNG - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.01). Coupang had a net margin of 3.57% and a return on equity of 11.52%. The business had revenue of $7.91 billion during the quarter, compared to analyst estimates of $8.02 billion. The business's quarterly revenue was up 11.2% compared to the same quarter last year. Equities research analysts anticipate that Coupang, Inc. will post 0.17 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Coupang news, CFO Gaurav Anand sold 75,350 shares of the company's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $26.10, for a total transaction of $1,966,635.00. Following the completion of the transaction, the chief financial officer now owns 2,267,290 shares of the company's stock, valued at $59,176,269. This represents a 3.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Pranam Kolari sold 9,347 shares of the stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $23.85, for a total value of $222,925.95. Following the completion of the sale, the vice president now directly owns 177,106 shares in the company, valued at approximately $4,223,978.10. This represents a 5.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 30,334,697 shares of company stock worth $780,547,061 in the last 90 days. Company insiders own 13.60% of the company's stock.

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.