Dimensional Fund Advisors LP grew its holdings in Coupang, Inc. (NYSE:CPNG – Free Report) by 20.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,366,766 shares of the company’s stock after purchasing an additional 732,300 shares during the period. Dimensional Fund Advisors LP owned approximately 0.24% of Coupang worth $82,404,000 as of its most recent SEC filing.
A number of other hedge funds also recently modified their holdings of the business. Norges Bank purchased a new position in shares of Coupang during the fourth quarter valued at $498,333,000. Assenagon Asset Management S.A. lifted its stake in Coupang by 1,394.1% in the 1st quarter. Assenagon Asset Management S.A. now owns 17,117,583 shares of the company’s stock worth $323,180,000 after acquiring an additional 15,971,942 shares in the last quarter. Tiger Global Management LLC lifted its stake in Coupang by 65.9% in the 4th quarter. Tiger Global Management LLC now owns 26,267,259 shares of the company’s stock worth $619,645,000 after acquiring an additional 10,429,680 shares in the last quarter. Capital International Investors lifted its stake in Coupang by 20.4% in the 4th quarter. Capital International Investors now owns 41,131,036 shares of the company’s stock worth $970,340,000 after acquiring an additional 6,977,942 shares in the last quarter. Finally, Dragoneer Investment Group LLC boosted its position in Coupang by 47.1% during the 4th quarter. Dragoneer Investment Group LLC now owns 21,576,556 shares of the company’s stock worth $508,991,000 after acquiring an additional 6,910,865 shares during the period. Hedge funds and other institutional investors own 83.72% of the company’s stock.
Analyst Upgrades and Downgrades
CPNG has been the topic of several research analyst reports. CLSA started coverage on Coupang in a research note on Monday, June 15th. They set an “outperform” rating and a $24.00 target price on the stock. Citigroup lowered shares of Coupang from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $23.00 to $22.20 in a research report on Wednesday, May 6th. Mizuho decreased their price target on shares of Coupang from $25.00 to $24.00 and set a “neutral” rating for the company in a report on Wednesday. Deutsche Bank Aktiengesellschaft downgraded shares of Coupang from a “buy” rating to a “hold” rating and set a $23.00 price objective on the stock. in a research report on Wednesday, May 6th. Finally, Weiss Ratings lowered shares of Coupang from a “sell (d+)” rating to a “sell (d)” rating in a research note on Thursday, May 7th. Five research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Coupang has an average rating of “Hold” and a consensus target price of $25.93.
Coupang Price Performance
CPNG opened at $16.14 on Friday. The stock has a market cap of $28.96 billion, a price-to-earnings ratio of -179.26 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 company has a current ratio of 0.97, a quick ratio of 0.76 and a debt-to-equity ratio of 0.16. The stock has a fifty day moving average price of $16.99 and a 200 day moving average price of $18.34.
Coupang (NYSE:CPNG – Get Free Report) last issued 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). Coupang had a negative return on equity of 3.67% and a negative net margin of 0.47%.The firm had revenue of $8.50 billion during the quarter, compared to analyst estimates of $8.48 billion. During the same period in the previous year, the company earned $0.06 earnings per share. The business’s revenue for the quarter was up 7.5% on a year-over-year basis. Analysts forecast that Coupang, Inc. will post -0.33 EPS for the current fiscal 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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