Coupang, Inc. $CPNG Holdings Raised by Coronation Fund Managers Ltd.

Coronation Fund Managers Ltd. raised its stake in shares of Coupang, Inc. (NYSE:CPNG) by 98.3% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 11,771,286 shares of the company’s stock after acquiring an additional 5,835,072 shares during the period. Coupang comprises about 10.1% of Coronation Fund Managers Ltd.’s investment portfolio, making the stock its 4th biggest position. Coronation Fund Managers Ltd.’s holdings in Coupang were worth $222,242,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Sunbelt Securities Inc. purchased a new stake in shares of Coupang in the third quarter worth about $26,000. Reflection Asset Management acquired a new position in Coupang in the fourth quarter valued at approximately $28,000. LGT Financial Advisors LLC purchased a new stake in Coupang in the 3rd quarter worth approximately $52,000. Webster Bank N. A. grew its stake in shares of Coupang by 325.8% during the 1st quarter. Webster Bank N. A. now owns 1,699 shares of the company’s stock worth $32,000 after purchasing an additional 1,300 shares during the period. Finally, Aster Capital Management DIFC Ltd acquired a new stake in shares of Coupang during the 4th quarter worth approximately $42,000. Institutional investors and hedge funds own 83.72% of the company’s stock.

Coupang Stock Performance

CPNG opened at $15.72 on Thursday. The firm’s fifty day simple moving average is $17.01 and its two-hundred day simple moving average is $18.65. Coupang, Inc. has a 52-week low of $14.92 and a 52-week high of $34.08. The company has a market cap of $28.23 billion, a price-to-earnings ratio of -174.70 and a beta of 1.11. The company has a quick ratio of 0.76, a current ratio of 0.97 and a debt-to-equity ratio of 0.16.

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

Wall Street Analysts Forecast Growth

CPNG has been the topic of a number of recent analyst reports. The Goldman Sachs Group set a $31.00 price target on shares of Coupang in a report on Thursday, July 9th. 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 research report on Wednesday, May 6th. Citigroup cut 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 report on Wednesday, May 6th. Weiss Ratings lowered Coupang from a “sell (d+)” rating to a “sell (d)” rating in a research note on Thursday, May 7th. Finally, Barclays reaffirmed an “overweight” rating and issued a $29.00 price target on shares of Coupang in a report on Tuesday, July 7th. Five investment 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’s stock. According to MarketBeat.com, Coupang presently has an average rating of “Hold” and an average target price of $26.02.

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.