Hsbc Holdings PLC lifted its position in shares of Coupang, Inc. (NYSE:CPNG – Free Report) by 140.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,482,212 shares of the company’s stock after acquiring an additional 865,386 shares during the quarter. Hsbc Holdings PLC’s holdings in Coupang were worth $35,154,000 at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. Dodge & Cox boosted its holdings in Coupang by 4.9% in the fourth quarter. Dodge & Cox now owns 49,233,320 shares of the company’s stock valued at $1,161,414,000 after acquiring an additional 2,285,600 shares during the last quarter. Capital International Investors increased its position in Coupang by 20.4% in the fourth quarter. Capital International Investors now owns 41,131,036 shares of the company’s stock worth $970,340,000 after purchasing an additional 6,977,942 shares during the period. Vanguard Group Inc. raised its holdings in Coupang by 3.3% during the 4th quarter. Vanguard Group Inc. now owns 29,547,637 shares of the company’s stock worth $697,029,000 after purchasing an additional 951,812 shares during the last quarter. Tiger Global Management LLC raised its holdings in Coupang by 65.9% during the 4th quarter. Tiger Global Management LLC now owns 26,267,259 shares of the company’s stock worth $619,645,000 after purchasing an additional 10,429,680 shares during the last quarter. Finally, Durable Capital Partners LP lifted its position in Coupang by 0.4% during the 3rd quarter. Durable Capital Partners LP now owns 24,833,189 shares of the company’s stock valued at $799,629,000 after purchasing an additional 89,207 shares during the period. Institutional investors and hedge funds own 83.72% of the company’s stock.
Analysts Set New Price Targets
Several research analysts have recently issued reports on the stock. Wall Street Zen lowered shares of Coupang from a “hold” rating to a “strong sell” rating in a research note on Saturday, March 14th. Sanford C. Bernstein reissued an “underperform” rating on shares of Coupang in a research note on Monday, March 2nd. Mizuho reduced their price objective on shares of Coupang from $32.00 to $25.00 and set a “neutral” rating on the stock in a research note on Friday, February 27th. Nomura lowered their target price on shares of Coupang from $22.00 to $20.00 and set a “neutral” rating for the company in a report on Monday, March 2nd. Finally, Weiss Ratings cut shares of Coupang from a “sell (d+)” rating to a “sell (d)” rating in a research report on Thursday, May 7th. Five analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $26.65.
Coupang Price Performance
Shares of CPNG opened at $17.48 on Wednesday. The stock has a market cap of $31.38 billion, a P/E ratio of -194.20 and a beta of 1.13. Coupang, Inc. has a 1 year low of $14.92 and a 1 year high of $34.08. The stock’s 50-day moving average price is $17.80 and its two-hundred day moving average price is $19.64. The company has a current ratio of 0.97, a quick ratio of 0.76 and a debt-to-equity ratio of 0.16.
Coupang (NYSE:CPNG – Get Free Report) last announced 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 net margin of 0.47% and a negative return on equity of 3.67%. The company had revenue of $8.50 billion during the quarter, compared to the consensus estimate of $8.48 billion. During the same period last year, the company earned $0.06 earnings per share. The business’s revenue was up 7.5% compared to the same quarter last year. On average, equities analysts predict that Coupang, Inc. will post -0.17 earnings per share for the current 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.
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