Coupang (NYSE:CPNG) Hits New 1-Year Low – Here’s What Happened

Coupang, Inc. (NYSE:CPNG) shares hit a new 52-week low on Monday . The company traded as low as $16.48 and last traded at $16.4080, with a volume of 2338992 shares trading hands. The stock had previously closed at $16.98.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CPNG. UBS Group set a $25.00 target price on shares of Coupang in a report on Thursday, February 19th. Weiss Ratings lowered shares of Coupang from a “sell (d+)” rating to a “sell (d)” rating in a report on Thursday. Morgan Stanley reduced their target price on shares of Coupang from $31.00 to $29.00 and set an “overweight” rating on the stock in a report on Monday, March 2nd. Mizuho reduced their target price on shares of Coupang from $32.00 to $25.00 and set a “neutral” rating on the stock in a report on Friday, February 27th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Coupang from a “buy” rating to a “hold” rating and set a $23.00 target price on the stock. in a report on Wednesday, May 6th. Four equities research 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $26.92.

Coupang Price Performance

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 firm has a market cap of $29.75 billion, a price-to-earnings ratio of -180.81 and a beta of 1.20. The company’s fifty day moving average is $19.54 and its two-hundred day moving average is $22.62.

Coupang (NYSE:CPNG) last issued its quarterly earnings data 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 firm had revenue of $8.50 billion during the quarter, compared to analyst estimates of $8.48 billion. During the same quarter in the prior year, the firm earned $0.06 EPS. The business’s quarterly revenue was up 7.5% compared to the same quarter last year. Equities research analysts forecast that Coupang, Inc. will post -0.17 EPS for the current year.

Insider Buying and Selling

In other news, Director Neil Mehta acquired 3,000,000 shares of the business’s stock in a transaction on Thursday, March 12th. The shares were purchased at an average price of $18.68 per share, for a total transaction of $56,040,000.00. Following the acquisition, the director directly owned 52,978,114 shares of the company’s stock, valued at $989,631,169.52. This represents a 6.00% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In the last quarter, insiders have acquired 7,350,104 shares of company stock valued at $136,566,051. Insiders own 12.78% of the company’s stock.

Hedge Funds Weigh In On Coupang

A number of institutional investors have recently added to or reduced their stakes in the company. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in Coupang by 4.6% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 7,436 shares of the company’s stock worth $239,000 after buying an additional 330 shares in the last quarter. California State Teachers Retirement System raised its holdings in Coupang by 0.5% in the third quarter. California State Teachers Retirement System now owns 78,679 shares of the company’s stock valued at $2,533,000 after acquiring an additional 361 shares in the last quarter. CIBC Asset Management Inc raised its holdings in Coupang by 0.6% in the third quarter. CIBC Asset Management Inc now owns 65,029 shares of the company’s stock valued at $2,094,000 after acquiring an additional 364 shares in the last quarter. Resonant Capital Advisors LLC raised its holdings in Coupang by 2.9% in the third quarter. Resonant Capital Advisors LLC now owns 13,088 shares of the company’s stock valued at $421,000 after acquiring an additional 374 shares in the last quarter. Finally, Level Four Advisory Services LLC raised its holdings in Coupang by 2.2% in the third quarter. Level Four Advisory Services LLC now owns 20,916 shares of the company’s stock valued at $673,000 after acquiring an additional 441 shares in the last quarter. Institutional investors and hedge funds own 83.72% of the company’s stock.

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.