Brooklands Fund Management Ltd lowered its position in Coupang, Inc. (NYSE:CPNG – Free Report) by 96.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 55,012 shares of the company’s stock after selling 1,644,988 shares during the quarter. Coupang accounts for approximately 1.2% of Brooklands Fund Management Ltd’s holdings, making the stock its 24th biggest holding. Brooklands Fund Management Ltd’s holdings in Coupang were worth $1,039,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CPNG. Sunbelt Securities Inc. purchased a new stake in shares of Coupang during the third quarter worth about $26,000. Reflection Asset Management acquired a new position in shares of Coupang in the fourth quarter worth about $28,000. Webster Bank N. A. boosted its holdings in Coupang by 325.8% in the first quarter. Webster Bank N. A. now owns 1,699 shares of the company’s stock valued at $32,000 after purchasing an additional 1,300 shares during the last quarter. Main Street Group LTD purchased a new position in Coupang in the first quarter valued at about $40,000. Finally, Aster Capital Management DIFC Ltd acquired a new stake in Coupang during the 4th quarter valued at approximately $42,000. 83.72% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several research firms have issued reports on CPNG. Weiss Ratings downgraded Coupang from a “sell (d+)” rating to a “sell (d)” rating in a report on Thursday, May 7th. Citigroup downgraded shares of Coupang from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $23.00 to $22.20 in a research report on Wednesday, May 6th. Bank of America cut their price target on shares of Coupang from $28.00 to $27.00 and set a “buy” rating on the stock in a report on Wednesday, June 24th. CLSA assumed coverage on shares of Coupang in a research note on Monday, June 15th. They set an “outperform” rating and a $24.00 price objective on the stock. Finally, Barclays reissued an “overweight” rating and set a $29.00 price objective on shares of Coupang in a report on Tuesday, July 7th. Five investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $26.02.
Coupang Stock Up 0.0%
CPNG stock opened at $15.64 on Friday. The firm has a market cap of $28.07 billion, a price-to-earnings ratio of -173.73 and a beta of 1.11. Coupang, Inc. has a 1-year low of $14.92 and a 1-year high of $34.08. The firm has a fifty day moving average price of $16.99 and a two-hundred day moving average price of $18.60. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.97 and a quick ratio of 0.76.
Coupang (NYSE:CPNG – Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.06). Coupang had a negative return on equity of 3.67% and a negative net margin of 0.47%.The business had revenue of $8.50 billion during the quarter, compared to the consensus estimate of $8.48 billion. During the same quarter in the previous year, the business posted $0.06 earnings per share. The company’s quarterly revenue was up 7.5% compared to the same quarter last year. Research analysts predict that Coupang, Inc. will post -0.33 EPS for the current 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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