abrdn plc Cuts Stock Position in Coupang, Inc. (NYSE:CPNG)

abrdn plc cut its holdings in shares of Coupang, Inc. (NYSE:CPNG) by 9.0% in the 4th quarter, HoldingsChannel reports. The firm owned 184,238 shares of the company’s stock after selling 18,121 shares during the quarter. abrdn plc’s holdings in Coupang were worth $4,094,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in CPNG. Pacer Advisors Inc. lifted its holdings in Coupang by 4.1% during the fourth quarter. Pacer Advisors Inc. now owns 11,502 shares of the company’s stock valued at $253,000 after purchasing an additional 452 shares during the last quarter. Ignite Planners LLC lifted its stake in shares of Coupang by 2.5% during the 4th quarter. Ignite Planners LLC now owns 20,162 shares of the company’s stock valued at $452,000 after buying an additional 483 shares in the last quarter. Van ECK Associates Corp lifted its stake in shares of Coupang by 63.1% during the 3rd quarter. Van ECK Associates Corp now owns 1,251 shares of the company’s stock valued at $32,000 after buying an additional 484 shares in the last quarter. Covestor Ltd boosted its holdings in Coupang by 10.4% in the 3rd quarter. Covestor Ltd now owns 6,479 shares of the company’s stock worth $159,000 after buying an additional 612 shares during the period. Finally, Janus Henderson Group PLC grew its stake in Coupang by 2.2% in the 3rd quarter. Janus Henderson Group PLC now owns 34,598 shares of the company’s stock valued at $850,000 after buying an additional 747 shares in the last quarter. 83.72% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, Citigroup cut their price target on Coupang from $31.00 to $28.00 and set a “buy” rating for the company in a report on Wednesday, January 8th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, Coupang presently has an average rating of “Moderate Buy” and an average target price of $27.56.

Insider Activity

In other Coupang news, VP Pranam Kolari sold 8,459 shares of the firm’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 sale, the vice president now owns 136,806 shares in the company, valued at $3,143,801.88. This trade represents a 5.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 13.60% of the company’s stock.

Coupang Price Performance

NYSE:CPNG opened at $23.65 on Monday. The firm has a market capitalization of $42.54 billion, a price-to-earnings ratio of 41.49, a P/E/G ratio of 43.21 and a beta of 1.11. 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 has a fifty day moving average of $22.94 and a 200 day moving average of $23.53. Coupang, Inc. has a 52-week low of $14.10 and a 52-week high of $26.91.

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.