Quantinno Capital Management LP Boosts Stock Position in Coupang, Inc. $CPNG

Quantinno Capital Management LP grew its stake in shares of Coupang, Inc. (NYSE:CPNG) by 40.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 730,966 shares of the company’s stock after acquiring an additional 211,260 shares during the quarter. Quantinno Capital Management LP’s holdings in Coupang were worth $13,801,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of CPNG. Norges Bank bought a new position in Coupang in the 4th quarter valued at approximately $498,333,000. Assenagon Asset Management S.A. boosted its position in shares of Coupang by 1,394.1% during the first quarter. Assenagon Asset Management S.A. now owns 17,117,583 shares of the company’s stock valued at $323,180,000 after buying an additional 15,971,942 shares during the last quarter. Tiger Global Management LLC increased 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 worth $619,645,000 after buying an additional 10,429,680 shares in the last quarter. Capital International Investors raised its position in Coupang by 20.4% in the 4th quarter. Capital International Investors now owns 41,131,036 shares of the company’s stock worth $970,340,000 after buying an additional 6,977,942 shares during the last quarter. Finally, Dragoneer Investment Group LLC lifted its stake in Coupang by 47.1% during the 4th quarter. Dragoneer Investment Group LLC now owns 21,576,556 shares of the company’s stock valued at $508,991,000 after acquiring an additional 6,910,865 shares during the period. Institutional investors own 83.72% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. CLSA initiated coverage on shares of Coupang in a report on Monday, June 15th. They set an “outperform” rating and a $24.00 price objective for the company. Barclays reaffirmed an “overweight” rating and issued a $29.00 target price on shares of Coupang in a research report on Tuesday, July 7th. Citigroup cut Coupang from a “buy” rating to a “neutral” rating and lowered their price target for the company from $23.00 to $22.20 in a report on Wednesday, May 6th. Weiss Ratings lowered Coupang from a “sell (d+)” rating to a “sell (d)” rating in a report on Thursday, May 7th. Finally, Bank of America lowered their target price on Coupang from $28.00 to $27.00 and set a “buy” rating on the stock in a report 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. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $25.93.

Coupang Price Performance

NYSE CPNG opened at $16.41 on Monday. The company has a market capitalization of $29.45 billion, a PE ratio of -182.29 and a beta of 1.13. 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 business’s fifty day moving average is $16.99 and its 200 day moving average is $18.30. Coupang, Inc. has a fifty-two week low of $14.92 and a fifty-two week high of $34.08.

Coupang (NYSE:CPNG) last issued its quarterly earnings results on Tuesday, May 5th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates 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 previous year, the company earned $0.06 EPS. The business’s quarterly revenue was up 7.5% compared to the same quarter last year. Sell-side analysts predict that Coupang, Inc. will post -0.33 earnings per share for the current year.

Coupang Company 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.