Abdiel Capital Advisors LP Purchases Shares of 180,974 Coupang, Inc. $CPNG

Abdiel Capital Advisors LP purchased a new stake in Coupang, Inc. (NYSE:CPNG) during the fourth quarter, Holdings Channel reports. The firm purchased 180,974 shares of the company’s stock, valued at approximately $4,269,000. Coupang comprises 6.0% of Abdiel Capital Advisors LP’s portfolio, making the stock its 5th biggest holding.

A number of other large investors have also recently bought and sold shares of CPNG. Sunbelt Securities Inc. bought a new stake in Coupang in the third quarter valued at $26,000. Fifth Third Bancorp grew its position in Coupang by 1,250.0% in the third quarter. Fifth Third Bancorp now owns 1,080 shares of the company’s stock valued at $35,000 after acquiring an additional 1,000 shares during the period. Aster Capital Management DIFC Ltd bought a new stake in Coupang in the fourth quarter valued at $42,000. EFG International AG bought a new stake in Coupang in the fourth quarter valued at $44,000. Finally, Colonial Trust Advisors bought a new stake in Coupang in the third quarter valued at $48,000. 83.72% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CPNG has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft cut 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. Morgan Stanley reduced their price objective on Coupang from $31.00 to $29.00 and set an “overweight” rating on the stock in a research note on Monday, March 2nd. Wall Street Zen lowered Coupang from a “hold” rating to a “strong sell” rating in a research note on Saturday, March 14th. CLSA assumed coverage on Coupang in a research note on Monday. They issued an “outperform” rating and a $24.00 price objective on the stock. Finally, Citigroup lowered 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. Five research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $26.65.

Coupang Trading Up 4.6%

Shares of NYSE CPNG opened at $18.87 on Thursday. Coupang, Inc. has a twelve month low of $14.92 and a twelve month high of $34.08. The stock has a market cap of $33.87 billion, a price-to-earnings ratio of -209.60 and a beta of 1.12. The company has a quick ratio of 0.76, a current ratio of 0.97 and a debt-to-equity ratio of 0.16. The company’s fifty day moving average is $17.95 and its 200-day moving average is $19.91.

Coupang (NYSE:CPNG) last announced its quarterly earnings results on Tuesday, May 5th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $8.50 billion during the quarter, compared to analyst estimates of $8.48 billion. During the same period last year, the firm earned $0.06 EPS. Coupang’s quarterly revenue was up 7.5% on a year-over-year basis. Equities research analysts predict that Coupang, Inc. will post -0.17 EPS 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.