Aberdeen Group plc Has $7.16 Million Position in Coupang, Inc. $CPNG

Aberdeen Group plc decreased its position in shares of Coupang, Inc. (NYSE:CPNG) by 63.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). 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 quarter.

A number of other institutional investors also recently modified their holdings of CPNG. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in Coupang by 4.6% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 7,436 shares of the company’s stock worth $239,000 after purchasing an additional 330 shares during the last quarter. CIBC Asset Management Inc increased its holdings in Coupang by 0.6% during the third 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 lifted its position in shares of Coupang by 2.9% during 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 last quarter. Merit Financial Group LLC grew its stake 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 in the last quarter. Finally, GAMMA Investing LLC increased its holdings in Coupang by 12.7% during the 3rd quarter. GAMMA Investing LLC now owns 3,961 shares of the company’s stock worth $128,000 after acquiring an additional 445 shares during the period. Institutional investors and hedge funds own 83.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CPNG. UBS Group set a $25.00 price objective on Coupang in a research note on Thursday. Weiss Ratings reiterated a “hold (c)” rating on shares of Coupang in a report on Wednesday, January 21st. Sanford C. Bernstein initiated coverage on shares of Coupang in a research report on Thursday, February 5th. They issued an “underperform” rating and a $17.00 price target on the stock. Mizuho raised their price target on Coupang from $30.00 to $32.00 and gave the company a “neutral” rating in a report on Thursday, November 6th. Finally, Deutsche Bank Aktiengesellschaft raised Coupang from a “hold” rating to a “buy” rating and set a $25.00 price target for the company in a research note on Friday, January 16th. Six research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $27.70.

Insider Buying and Selling at Coupang

In related news, CAO Jonathan D. Lee sold 2,679 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at $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 Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 12.78% of the company’s stock.

Coupang Price Performance

Shares of NYSE CPNG opened at $18.70 on Friday. The firm has a fifty day moving average of $20.91 and a 200 day moving average of $26.75. Coupang, Inc. has a one year low of $16.74 and a one year high of $34.08. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.82 and a current ratio of 1.06. The firm has a market cap of $34.15 billion, a PE ratio of 89.03 and a beta of 1.19.

About Coupang

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.