Sumitomo Mitsui Trust Group Inc. reduced its holdings in Coupang, Inc. (NYSE:CPNG – Free Report) by 38.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 252,366 shares of the company’s stock after selling 154,555 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Coupang were worth $4,765,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. California State Teachers Retirement System raised its position in shares of Coupang by 0.5% during the 3rd quarter. California State Teachers Retirement System now owns 78,679 shares of the company’s stock valued at $2,533,000 after acquiring an additional 361 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Coupang by 19.5% in the 4th 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 shares of Coupang by 6.6% during 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 during the period. Assetmark Inc. grew its stake in shares of Coupang by 9.5% during the fourth quarter. Assetmark Inc. now owns 7,150 shares of the company’s stock worth $169,000 after purchasing an additional 620 shares during the period. 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 purchasing an additional 642 shares during the last quarter. 83.72% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
CPNG has been the topic of several analyst reports. CLSA assumed coverage on Coupang in a research note on Monday, June 15th. They issued an “outperform” rating and a $24.00 target price on the stock. The Goldman Sachs Group set a $31.00 target price on Coupang in a research report on Thursday, July 9th. Citigroup cut Coupang from a “buy” rating to a “neutral” rating and lowered their price target for the company from $23.00 to $22.20 in a research note on Wednesday, May 6th. Barclays reiterated an “overweight” rating and issued a $29.00 price target on shares of Coupang in a research report on Tuesday, July 7th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Coupang from a “buy” rating to a “hold” rating and set a $23.00 price objective on the stock. in a research note on Wednesday, May 6th. Five equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $26.02.
Coupang Stock Performance
CPNG stock opened at $17.74 on Wednesday. The business’s 50-day moving average price is $17.04 and its two-hundred day moving average price is $18.96. 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 firm has a market cap of $31.85 billion, a PE ratio of -197.11 and a beta of 1.11. Coupang, Inc. has a 1-year low of $14.92 and a 1-year high of $34.08.
Coupang (NYSE:CPNG – Get Free Report) last posted its 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). The business had revenue of $8.50 billion during the quarter, compared to analyst estimates of $8.48 billion. Coupang had a negative net margin of 0.47% and a negative return on equity of 3.67%. The firm’s revenue was up 7.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.06 earnings per share. As a group, research analysts forecast that Coupang, Inc. will post -0.33 earnings per share for the current year.
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.
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