Coupang, Inc. $CPNG Shares Sold by Strs Ohio

Strs Ohio reduced its holdings in Coupang, Inc. (NYSE:CPNG) by 11.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 264,707 shares of the company’s stock after selling 35,548 shares during the period. Strs Ohio’s holdings in Coupang were worth $4,998,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Sunbelt Securities Inc. purchased a new position in shares of Coupang during the 3rd quarter valued at approximately $26,000. Reflection Asset Management purchased a new stake in Coupang in the 4th quarter worth $28,000. LGT Financial Advisors LLC acquired a new position in Coupang during the third quarter worth $52,000. Webster Bank N. A. raised its position 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 purchased a new position in Coupang during the fourth quarter valued at $42,000. 83.72% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CPNG. Barclays lifted their target price on shares of Coupang from $24.00 to $30.00 and gave the company an “overweight” rating in a research report on Thursday, April 23rd. Weiss Ratings cut Coupang from a “sell (d+)” rating to a “sell (d)” rating in a report on Thursday, May 7th. Citigroup cut Coupang from a “buy” rating to a “neutral” rating and reduced their target price for the company from $23.00 to $22.20 in a report on Wednesday, May 6th. Wall Street Zen downgraded Coupang from a “hold” rating to a “strong sell” rating in a research report on Saturday, March 14th. Finally, Bank of America dropped their price target on Coupang from $28.00 to $27.00 and set a “buy” rating for the company in a research report on Wednesday, June 24th. Five equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $25.65.

Coupang Price Performance

NYSE CPNG traded down $0.34 during trading hours on Tuesday, hitting $18.81. 1,999,086 shares of the company’s stock traded hands, 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 market capitalization of $33.76 billion, a PE ratio of -208.81 and a beta of 1.11. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.97 and a quick ratio of 0.76. The firm’s 50-day moving average is $17.26 and its 200-day moving average is $19.14.

Coupang (NYSE:CPNG) last released 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). The business had revenue of $8.50 billion during the quarter, compared to analyst estimates of $8.48 billion. Coupang had a negative net margin of 0.47% and a negative return on equity of 3.67%. The firm’s revenue was up 7.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.06 EPS. Equities analysts forecast that Coupang, Inc. will post -0.25 EPS for the current fiscal 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.