State of Wyoming Grows Stake in Coupang, Inc. $CPNG

State of Wyoming grew its stake in shares of Coupang, Inc. (NYSE:CPNG) by 78.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 120,287 shares of the company’s stock after acquiring an additional 52,987 shares during the quarter. Coupang comprises approximately 0.3% of State of Wyoming’s portfolio, making the stock its 23rd biggest position. State of Wyoming’s holdings in Coupang were worth $2,271,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of CPNG. Vanguard Group Inc. raised its holdings in Coupang by 3.3% in the fourth quarter. Vanguard Group Inc. now owns 29,547,637 shares of the company’s stock worth $697,029,000 after buying an additional 951,812 shares during the last quarter. Ethic Inc. lifted its stake in shares of Coupang by 383.2% in the fourth quarter. Ethic Inc. now owns 126,154 shares of the company’s stock worth $2,976,000 after buying an additional 100,047 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Coupang by 7.5% during the fourth quarter. Geode Capital Management LLC now owns 24,327,724 shares of the company’s stock valued at $574,068,000 after buying an additional 1,689,293 shares during the last quarter. SG Americas Securities LLC grew its holdings in shares of Coupang by 10,004.5% during the fourth quarter. SG Americas Securities LLC now owns 988,722 shares of the company’s stock valued at $23,324,000 after buying an additional 978,937 shares during the last quarter. Finally, M&T Bank Corp grew its holdings in shares of Coupang by 22.7% during the fourth quarter. M&T Bank Corp now owns 318,971 shares of the company’s stock valued at $7,525,000 after buying an additional 59,013 shares during the last quarter. Hedge funds and other institutional investors own 83.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. CLSA started coverage on shares of Coupang in a report on Monday, June 15th. They issued an “outperform” rating and a $24.00 price objective for the company. Weiss Ratings downgraded Coupang from a “sell (d+)” rating to a “sell (d)” rating in a research note on Thursday, May 7th. Citigroup lowered Coupang from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $23.00 to $22.20 in a report on Wednesday, May 6th. The Goldman Sachs Group set a $31.00 target price on Coupang in a report on Thursday, July 9th. Finally, Bank of America decreased their price target on Coupang from $28.00 to $27.00 and set a “buy” rating for the company in a research note on Wednesday, June 24th. Five analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $26.02.

Coupang Stock Down 0.2%

CPNG opened at $15.72 on Thursday. The stock has a market capitalization of $28.23 billion, a price-to-earnings ratio of -174.70 and a beta of 1.11. The firm has a 50 day moving average price of $17.01 and a 200-day moving average price of $18.65. Coupang, Inc. has a twelve month low of $14.92 and a twelve month high of $34.08. The company has a quick ratio of 0.76, a current ratio of 0.97 and a debt-to-equity ratio of 0.16.

Coupang (NYSE:CPNG) last issued its earnings results on Tuesday, May 5th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.06). Coupang had a negative return on equity of 3.67% and a negative net margin of 0.47%.The company had revenue of $8.50 billion during the quarter, compared to analysts’ expectations of $8.48 billion. During the same quarter in the prior year, the business posted $0.06 EPS. The company’s revenue for the quarter was up 7.5% compared to the same quarter last year. Equities research analysts forecast that Coupang, Inc. will post -0.33 earnings per share for the current year.

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.