Matthews International Capital Management LLC cut its stake in Coupang, Inc. (NYSE:CPNG – Free Report) by 52.4% during the 1st quarter, HoldingsChannel reports. The fund owned 176,060 shares of the company’s stock after selling 193,915 shares during the period. Coupang comprises 1.3% of Matthews International Capital Management LLC’s portfolio, making the stock its 26th largest position. Matthews International Capital Management LLC’s holdings in Coupang were worth $3,324,000 at the end of the most recent quarter.
Several other hedge funds also recently added to or reduced their stakes in the stock. California State Teachers Retirement System increased its position in shares of Coupang by 0.5% in the 3rd quarter. California State Teachers Retirement System now owns 78,679 shares of the company’s stock worth $2,533,000 after purchasing an additional 361 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Coupang by 19.5% during the fourth quarter. EverSource Wealth Advisors LLC now owns 3,651 shares of the company’s stock worth $86,000 after purchasing an additional 597 shares during the last quarter. National Bank of Canada FI grew its stake in Coupang by 6.6% in the third quarter. National Bank of Canada FI now owns 9,801 shares of the company’s stock worth $316,000 after purchasing an additional 609 shares in the last quarter. Assetmark Inc. grew its stake in Coupang by 9.5% in the fourth quarter. Assetmark Inc. now owns 7,150 shares of the company’s stock worth $169,000 after purchasing an additional 620 shares in the last quarter. Finally, Vise Technologies Inc. increased its holdings in Coupang by 3.0% in the fourth quarter. Vise Technologies Inc. now owns 22,302 shares of the company’s stock valued at $526,000 after buying an additional 642 shares during the last quarter. 83.72% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several analysts have issued reports on CPNG shares. The Goldman Sachs Group set a $31.00 price objective on Coupang in a research note on Thursday. Deutsche Bank Aktiengesellschaft lowered Coupang from a “buy” rating to a “hold” rating and set a $23.00 price target on the stock. in a research report on Wednesday, May 6th. Citigroup cut Coupang from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $23.00 to $22.20 in a research note on Wednesday, May 6th. CLSA assumed coverage on shares of Coupang in a report on Monday, June 15th. They issued an “outperform” rating and a $24.00 price objective for the company. Finally, Barclays reiterated an “overweight” rating and set a $29.00 target price on shares of Coupang in a research note on Tuesday, July 7th. Five 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. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $26.02.
Coupang Stock Up 0.0%
CPNG opened at $18.80 on Monday. 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 company has a market capitalization of $33.76 billion, a PE ratio of -208.92 and a beta of 1.11. The stock’s fifty day moving average is $17.14 and its 200-day moving average is $19.03. Coupang, Inc. has a one year low of $14.92 and a one year high of $34.08.
Coupang (NYSE:CPNG – Get Free Report) last announced its 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 firm had revenue of $8.50 billion for the quarter, compared to the consensus estimate of $8.48 billion. Coupang had a negative net margin of 0.47% and a negative return on equity of 3.67%. The company’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.06 EPS. On average, equities analysts predict that Coupang, Inc. will post -0.33 EPS for the current fiscal year.
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.
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