Coupang, Inc. $CPNG Shares Sold by Strs Ohio

Strs Ohio lessened its stake in shares of Coupang, Inc. (NYSE:CPNG) by 11.8% during the 1st quarter, Holdings Channel reports. The fund owned 264,707 shares of the company’s stock after selling 35,548 shares during the quarter. Strs Ohio’s holdings in Coupang were worth $4,998,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new stake in shares of Coupang in the fourth quarter valued at about $498,333,000. Assenagon Asset Management S.A. boosted its holdings in Coupang by 1,394.1% in the 1st quarter. Assenagon Asset Management S.A. now owns 17,117,583 shares of the company’s stock valued at $323,180,000 after purchasing an additional 15,971,942 shares during the last quarter. Tiger Global Management LLC boosted its holdings in Coupang by 65.9% in the 4th quarter. Tiger Global Management LLC now owns 26,267,259 shares of the company’s stock valued at $619,645,000 after purchasing an additional 10,429,680 shares during the last quarter. Capital International Investors grew its stake in shares of Coupang by 20.4% in the 4th quarter. Capital International Investors now owns 41,131,036 shares of the company’s stock valued at $970,340,000 after buying an additional 6,977,942 shares during the period. Finally, Dragoneer Investment Group LLC grew its stake in shares of Coupang by 47.1% in the 4th quarter. Dragoneer Investment Group LLC now owns 21,576,556 shares of the company’s stock valued at $508,991,000 after buying an additional 6,910,865 shares during the period. Institutional investors and hedge funds own 83.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on CPNG shares. Bank of America reduced their price target on shares of Coupang from $28.00 to $27.00 and set a “buy” rating on the stock in a research report on Wednesday, June 24th. CLSA began coverage on Coupang in a research note on Monday, June 15th. They set an “outperform” rating and a $24.00 target price for the company. Deutsche Bank Aktiengesellschaft downgraded Coupang from a “buy” rating to a “hold” rating and set a $23.00 target price on the stock. in a research report on Wednesday, May 6th. Barclays increased their price target on Coupang from $24.00 to $30.00 and gave the stock an “overweight” rating in a report on Thursday, April 23rd. Finally, Citigroup downgraded Coupang from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $23.00 to $22.20 in a research report on Wednesday, May 6th. Five investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $25.65.

Coupang Trading Down 1.8%

Shares of CPNG traded down $0.34 during midday trading on Tuesday, hitting $18.81. 1,999,086 shares of the stock were exchanged, compared to its average volume of 23,918,707. Coupang, Inc. has a 52-week low of $14.92 and a 52-week high of $34.08. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.76 and a current ratio of 0.97. The stock has a fifty day simple moving average of $17.26 and a 200 day simple moving average of $19.14. The firm has a market cap of $33.76 billion, a P/E ratio of -208.81 and a beta of 1.11.

Coupang (NYSE:CPNG) last posted its quarterly earnings data 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 net margin of 0.47% and a negative return on equity of 3.67%. The firm 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 firm posted $0.06 EPS. Coupang’s quarterly revenue was up 7.5% compared to the same quarter last year. On average, research analysts anticipate that Coupang, Inc. will post -0.25 EPS for the current fiscal year.

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.