Public Employees Retirement System of Ohio Cuts Position in Coupang, Inc. (NYSE:CPNG)

Public Employees Retirement System of Ohio lowered its holdings in Coupang, Inc. (NYSE:CPNG - Free Report) by 3.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 603,179 shares of the company's stock after selling 22,032 shares during the period. Public Employees Retirement System of Ohio's holdings in Coupang were worth $13,258,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Allspring Global Investments Holdings LLC raised its holdings in shares of Coupang by 23.4% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 218,100 shares of the company's stock valued at $4,861,000 after buying an additional 41,384 shares in the last quarter. Elevate Capital Advisors LLC bought a new stake in shares of Coupang in the 4th quarter worth approximately $2,618,000. New York Life Investment Management LLC bought a new stake in shares of Coupang in the 4th quarter worth approximately $349,000. Ninety One UK Ltd bought a new stake in shares of Coupang in the 4th quarter worth approximately $46,388,000. Finally, Point72 Hong Kong Ltd bought a new stake in shares of Coupang during the fourth quarter valued at approximately $1,394,000. Hedge funds and other institutional investors own 83.72% of the company's stock.

Analysts Set New Price Targets

CPNG has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft raised Coupang from a "hold" rating to a "buy" rating and set a $28.50 target price on the stock in a report on Wednesday, February 26th. Mizuho upgraded Coupang to a "hold" rating in a research report on Friday, April 18th. Finally, Barclays upped their price objective on Coupang from $35.00 to $36.00 and gave the company an "overweight" rating in a research report on Thursday, May 8th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $29.64.

Insider Activity at Coupang

In other Coupang news, Director Greenoaks Capital Partners Llc purchased 650,000 shares of Coupang stock in a transaction dated Thursday, May 15th. The shares were purchased at an average cost of $26.86 per share, for a total transaction of $17,459,000.00. Following the completion of the acquisition, the director now owns 55,131,161 shares in the company, valued at $1,480,822,984.46. This represents a 1.19% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Benjamin Sun sold 250,000 shares of the firm's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $23.43, for a total value of $5,857,500.00. Following the transaction, the director now owns 1,719,421 shares in the company, valued at $40,286,034.03. The trade was a 12.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 30,334,697 shares of company stock valued at $780,547,061. Insiders own 13.60% of the company's stock.

Coupang Price Performance

Shares of NYSE CPNG traded down $0.15 during mid-day trading on Friday, reaching $27.74. The company's stock had a trading volume of 2,674,770 shares, compared to its average volume of 7,954,935. The firm has a market capitalization of $50.37 billion, a PE ratio of 48.66, a P/E/G ratio of 52.20 and a beta of 1.08. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.13 and a quick ratio of 0.86. The stock has a fifty day moving average of $23.84 and a two-hundred day moving average of $23.61. Coupang, Inc. has a 52 week low of $18.16 and a 52 week high of $28.61.

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

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.