Caitong International Asset Management Co. Ltd Purchases New Shares in Coupang, Inc. $CPNG

Caitong International Asset Management Co. Ltd bought a new stake in shares of Coupang, Inc. (NYSE:CPNG) during the 4th quarter, HoldingsChannel reports. The institutional investor bought 52,792 shares of the company’s stock, valued at approximately $1,245,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Dodge & Cox grew its holdings in Coupang by 4.9% during the 4th quarter. Dodge & Cox now owns 49,233,320 shares of the company’s stock worth $1,161,414,000 after acquiring an additional 2,285,600 shares in the last quarter. Capital International Investors boosted its position in Coupang by 20.4% during the 4th quarter. Capital International Investors now owns 41,131,036 shares of the company’s stock valued at $970,340,000 after acquiring an additional 6,977,942 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Coupang by 3.3% in the 4th quarter. Vanguard Group Inc. now owns 29,547,637 shares of the company’s stock valued at $697,029,000 after acquiring an additional 951,812 shares during the period. Tiger Global Management LLC increased its holdings in shares of Coupang by 65.9% in the 4th quarter. Tiger Global Management LLC now owns 26,267,259 shares of the company’s stock valued at $619,645,000 after acquiring an additional 10,429,680 shares during the period. Finally, Durable Capital Partners LP raised its position in shares of Coupang by 0.4% in the 3rd quarter. Durable Capital Partners LP now owns 24,833,189 shares of the company’s stock worth $799,629,000 after acquiring an additional 89,207 shares in the last quarter. Institutional investors own 83.72% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on CPNG. Weiss Ratings downgraded shares of Coupang from a “sell (d+)” rating to a “sell (d)” rating in a research note on Thursday, May 7th. Deutsche Bank Aktiengesellschaft downgraded 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. Nomura decreased their price objective on Coupang from $22.00 to $20.00 and set a “neutral” rating for the company in a report on Monday, March 2nd. Barclays raised their price objective on Coupang from $24.00 to $30.00 and gave the stock an “overweight” rating in a research report on Thursday, April 23rd. Finally, CLSA started coverage on Coupang in a research note on Monday. They set an “outperform” rating and a $24.00 target price on the stock. Five analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Coupang presently has an average rating of “Hold” and a consensus target price of $26.65.

Coupang Trading Up 0.2%

NYSE CPNG opened at $18.03 on Friday. The firm’s 50-day moving average is $17.89 and its two-hundred day moving average is $19.82. 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, Inc. has a 12 month low of $14.92 and a 12 month high of $34.08. The stock has a market capitalization of $32.37 billion, a P/E ratio of -200.32 and a beta of 1.12.

Coupang (NYSE:CPNG) last issued 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). The business had revenue of $8.50 billion for the quarter, compared to analysts’ expectations of $8.48 billion. Coupang had a negative return on equity of 3.67% and a negative net margin of 0.47%.The firm’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same quarter last year, the company earned $0.06 earnings per share. On average, sell-side analysts anticipate that Coupang, Inc. will post -0.17 earnings per share for the current 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.