NBT Bank N A NY Sells 26,735 Shares of Coupang, Inc. $CPNG

NBT Bank N A NY trimmed its holdings in Coupang, Inc. (NYSE:CPNG) by 83.4% in the first quarter, Holdings Channel reports. The institutional investor owned 5,315 shares of the company’s stock after selling 26,735 shares during the period. NBT Bank N A NY’s holdings in Coupang were worth $100,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in CPNG. California State Teachers Retirement System grew its position in Coupang by 0.5% during the third quarter. California State Teachers Retirement System now owns 78,679 shares of the company’s stock worth $2,533,000 after buying an additional 361 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in Coupang by 19.5% in the 4th quarter. EverSource Wealth Advisors LLC now owns 3,651 shares of the company’s stock valued at $86,000 after acquiring an additional 597 shares in the last quarter. National Bank of Canada FI raised its holdings in Coupang by 6.6% in the 3rd quarter. National Bank of Canada FI now owns 9,801 shares of the company’s stock valued at $316,000 after acquiring an additional 609 shares in the last quarter. Assetmark Inc. lifted its position in shares of Coupang by 9.5% during the 4th quarter. Assetmark Inc. now owns 7,150 shares of the company’s stock valued at $169,000 after acquiring an additional 620 shares during the period. Finally, Vise Technologies Inc. lifted its position in shares of Coupang by 3.0% during the 4th quarter. Vise Technologies Inc. now owns 22,302 shares of the company’s stock valued at $526,000 after acquiring an additional 642 shares during the period. 83.72% of the stock is currently owned by institutional investors.

Coupang Price Performance

CPNG stock traded down $0.28 during midday trading on Tuesday, reaching $18.86. 3,863,140 shares of the stock were exchanged, compared to its average volume of 23,926,668. Coupang, Inc. has a 52 week low of $14.92 and a 52 week high of $34.08. The company has a fifty day moving average price of $17.26 and a 200 day moving average price of $19.14. 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 stock has a market capitalization of $33.86 billion, a PE ratio of -209.48 and a beta of 1.11.

Coupang (NYSE:CPNG) last posted its earnings results on Tuesday, May 5th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.06). Coupang had a negative net margin of 0.47% and a negative return on equity of 3.67%. The firm had revenue of $8.50 billion during the quarter, compared to the consensus estimate of $8.48 billion. During the same quarter in the prior year, the business posted $0.06 earnings per share. Coupang’s revenue for the quarter was up 7.5% compared to the same quarter last year. As a group, analysts expect that Coupang, Inc. will post -0.25 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Citigroup lowered Coupang from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $23.00 to $22.20 in a report on Wednesday, May 6th. Deutsche Bank Aktiengesellschaft cut 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. Bank of America reduced their price objective on shares of Coupang from $28.00 to $27.00 and set a “buy” rating on the stock in a research note on Wednesday, June 24th. Wall Street Zen downgraded shares of Coupang from a “hold” rating to a “strong sell” rating in a report on Saturday, March 14th. Finally, Barclays upped their price target on shares of Coupang from $24.00 to $30.00 and gave the stock an “overweight” rating in a report on Thursday, April 23rd. Five analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $25.65.

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.