Coupang, Inc. $CPNG Position Cut by Ashoka WhiteOak Capital Pte Ltd

Ashoka WhiteOak Capital Pte Ltd reduced its holdings in Coupang, Inc. (NYSE:CPNG) by 33.1% during the 1st quarter, Holdings Channel reports. The fund owned 210,333 shares of the company’s stock after selling 104,050 shares during the quarter. Coupang comprises 1.5% of Ashoka WhiteOak Capital Pte Ltd’s portfolio, making the stock its 12th largest holding. Ashoka WhiteOak Capital Pte Ltd’s holdings in Coupang were worth $3,841,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Sunbelt Securities Inc. acquired a new position in Coupang during the 3rd quarter worth $26,000. Fifth Third Bancorp grew its stake in shares of Coupang by 1,250.0% in the third quarter. Fifth Third Bancorp now owns 1,080 shares of the company’s stock worth $35,000 after purchasing an additional 1,000 shares in the last quarter. Reflection Asset Management acquired a new position in shares of Coupang during the fourth quarter valued at $28,000. Colonial Trust Advisors acquired a new position in shares of Coupang during the third quarter valued at $48,000. Finally, LGT Financial Advisors LLC bought a new stake in shares of Coupang during the third quarter valued at about $52,000. Institutional investors own 83.72% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on CPNG shares. CLSA started coverage on shares of Coupang in a report on Monday, June 15th. They issued an “outperform” rating and a $24.00 price objective for the company. Bank of America lowered their target price on shares of Coupang from $28.00 to $27.00 in a research note on Wednesday. Sanford C. Bernstein restated an “underperform” rating on shares of Coupang in a research report on Monday, March 2nd. Nomura reduced their price target on shares of Coupang from $22.00 to $20.00 and set a “neutral” rating for the company in a research note on Monday, March 2nd. Finally, Citigroup cut shares of Coupang from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $23.00 to $22.20 in a report on Wednesday, May 6th. Five 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 company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $25.65.

Coupang Trading Up 1.5%

Shares of Coupang stock opened at $17.77 on Thursday. The business has a fifty day simple moving average of $17.75 and a 200-day simple moving average of $19.58. Coupang, Inc. has a fifty-two week low of $14.92 and a fifty-two week high of $34.08. The firm has a market cap of $31.90 billion, a price-to-earnings ratio of -197.43 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.

Coupang (NYSE:CPNG) last released 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). 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 for the quarter, compared to analyst estimates of $8.48 billion. During the same period in the previous year, the firm earned $0.06 earnings per share. Coupang’s revenue was up 7.5% on a year-over-year basis. On average, equities analysts forecast that Coupang, Inc. will post -0.17 EPS for the current fiscal 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.