Healthcare of Ontario Pension Plan Trust Fund Makes New $14.75 Million Investment in Coupang, Inc. $CPNG

Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Coupang, Inc. (NYSE:CPNG) in the 1st quarter, according to the company in its most recent filing with the SEC. The firm acquired 781,300 shares of the company’s stock, valued at approximately $14,751,000.

Several other hedge funds have also recently modified their holdings of the company. Sunbelt Securities Inc. purchased a new position in shares of Coupang in the 3rd quarter worth approximately $26,000. Reflection Asset Management purchased a new stake in shares of Coupang during the fourth quarter valued at approximately $28,000. LGT Financial Advisors LLC purchased a new stake in shares of Coupang during the third quarter valued at approximately $52,000. Webster Bank N. A. lifted its holdings in Coupang by 325.8% during the first quarter. Webster Bank N. A. now owns 1,699 shares of the company’s stock worth $32,000 after acquiring an additional 1,300 shares during the period. Finally, Aster Capital Management DIFC Ltd bought a new stake in Coupang during the fourth quarter worth $42,000. Institutional investors own 83.72% of the company’s stock.

Coupang Stock Up 3.1%

CPNG stock opened at $15.97 on Tuesday. The stock has a fifty day moving average of $16.98 and a 200-day moving average of $18.49. Coupang, Inc. has a fifty-two week low of $14.92 and a fifty-two week high of $34.08. The company has a market capitalization of $28.68 billion, a price-to-earnings ratio of -177.48 and a beta of 1.11. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.76 and a current ratio of 0.97.

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

Analysts Set New Price Targets

A number of research firms recently issued reports on CPNG. Deutsche Bank Aktiengesellschaft downgraded shares of Coupang from a “buy” rating to a “hold” rating and set a $23.00 price objective for the company. in a report on Wednesday, May 6th. Citigroup cut shares of Coupang from a “buy” rating to a “neutral” rating and dropped their target price for the company from $23.00 to $22.20 in a research note on Wednesday, May 6th. The Goldman Sachs Group set a $31.00 target price on shares of Coupang in a research report on Thursday, July 9th. Barclays restated an “overweight” rating and set a $29.00 price target on shares of Coupang in a research note on Tuesday, July 7th. Finally, Weiss Ratings cut shares of Coupang from a “sell (d+)” rating to a “sell (d)” rating in a report on Thursday, May 7th. Five equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $26.02.

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.