Aberdeen Group plc Reduces Holdings in Coupang, Inc. $CPNG

Aberdeen Group plc decreased its position in Coupang, Inc. (NYSE:CPNG) by 63.8% in the 3rd quarter, HoldingsChannel reports. The firm owned 217,986 shares of the company’s stock after selling 384,936 shares during the period. Aberdeen Group plc’s holdings in Coupang were worth $7,156,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of CPNG. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in shares of Coupang by 4.6% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 7,436 shares of the company’s stock valued at $239,000 after purchasing an additional 330 shares during the period. CIBC Asset Management Inc boosted its stake in Coupang by 0.6% in the 3rd quarter. CIBC Asset Management Inc now owns 65,029 shares of the company’s stock worth $2,094,000 after buying an additional 364 shares during the last quarter. Resonant Capital Advisors LLC grew its holdings in Coupang by 2.9% in the 3rd quarter. Resonant Capital Advisors LLC now owns 13,088 shares of the company’s stock valued at $421,000 after buying an additional 374 shares during the period. Merit Financial Group LLC grew its holdings in Coupang by 2.7% in the 3rd quarter. Merit Financial Group LLC now owns 15,862 shares of the company’s stock valued at $511,000 after buying an additional 418 shares during the period. Finally, GAMMA Investing LLC increased its stake in shares of Coupang by 12.7% during the 3rd quarter. GAMMA Investing LLC now owns 3,961 shares of the company’s stock valued at $128,000 after acquiring an additional 445 shares during the last quarter. 83.72% of the stock is owned by institutional investors and hedge funds.

Coupang Stock Up 1.3%

NYSE:CPNG opened at $18.70 on Friday. The business’s fifty day moving average price is $20.91 and its 200 day moving average price is $26.75. The firm has a market capitalization of $34.15 billion, a price-to-earnings ratio of 89.03 and a beta of 1.19. The company has a current ratio of 1.06, a quick ratio of 0.82 and a debt-to-equity ratio of 0.13. Coupang, Inc. has a 1-year low of $16.74 and a 1-year high of $34.08.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Barclays decreased their target price on Coupang from $40.00 to $23.00 and set an “overweight” rating for the company in a report on Thursday. Weiss Ratings reiterated a “hold (c)” rating on shares of Coupang in a report on Wednesday, January 21st. Citigroup reduced their price objective on Coupang from $27.00 to $24.00 and set a “buy” rating on the stock in a research note on Tuesday, February 10th. Morgan Stanley reissued an “overweight” rating on shares of Coupang in a research report on Monday, January 5th. Finally, Mizuho raised their price target on shares of Coupang from $30.00 to $32.00 and gave the stock a “neutral” rating in a research report on Thursday, November 6th. Six research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $27.70.

Insider Transactions at Coupang

In other news, CAO Jonathan D. Lee sold 2,679 shares of the firm’s stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $23.62, for a total value of $63,277.98. Following the sale, the chief accounting officer owned 122,096 shares in the company, valued at approximately $2,883,907.52. This trade represents a 2.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 12.78% of the company’s stock.

Coupang Profile

Coupang, listed on the New York Stock Exchange under the ticker CPNG, is a South Korean e-commerce company headquartered in Seoul. Founded in 2010 by Bom Kim, the company grew rapidly by combining an online marketplace with a large direct-retail business model. Coupang completed a primary listing in the United States in 2021, and it has become one of South Korea’s leading online retailers by focusing on convenience, speed and a wide product assortment across consumer categories.

The company operates a vertically integrated e-commerce platform that includes a customer-facing marketplace and an extensive logistics and fulfillment network.