Allen Investment Management LLC Sells 245,313 Shares of Coupang, Inc. $CPNG

Allen Investment Management LLC trimmed its position in Coupang, Inc. (NYSE:CPNG) by 13.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,642,836 shares of the company’s stock after selling 245,313 shares during the quarter. Allen Investment Management LLC’s holdings in Coupang were worth $31,017,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Dodge & Cox raised its position in shares of Coupang by 4.9% during the 4th quarter. Dodge & Cox now owns 49,233,320 shares of the company’s stock valued at $1,161,414,000 after purchasing an additional 2,285,600 shares during the period. Capital International Investors lifted its position in shares of Coupang by 20.4% in the fourth 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. lifted its position in shares of Coupang by 3.3% in the fourth 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 in the last quarter. Tiger Global Management LLC boosted its stake in shares of Coupang by 65.9% in the fourth 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 during the period. Finally, Durable Capital Partners LP boosted its stake in shares of Coupang by 0.4% in the third 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 during the period. Institutional investors own 83.72% of the company’s stock.

Wall Street Analysts Forecast Growth

CPNG has been the topic of several recent analyst reports. CLSA initiated 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. Deutsche Bank Aktiengesellschaft downgraded Coupang from a “buy” rating to a “hold” rating and set a $23.00 price target for the company. in a research note on Wednesday, May 6th. Weiss Ratings lowered shares of Coupang from a “sell (d+)” rating to a “sell (d)” rating in a report on Thursday, May 7th. The Goldman Sachs Group set a $31.00 price objective on shares of Coupang in a report on Thursday, July 9th. Finally, Bank of America reduced their price objective on shares of Coupang from $28.00 to $27.00 and set a “buy” rating on the stock in a research report on Wednesday, June 24th. Five investment 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’s stock. According to data from MarketBeat.com, Coupang has an average rating of “Hold” and a consensus target price of $26.02.

Coupang Trading Up 0.1%

Shares of Coupang stock opened at $16.64 on Monday. The firm has a market cap of $29.86 billion, a price-to-earnings ratio of -184.82 and a beta of 1.11. The business has a 50-day moving average price of $17.01 and a 200-day moving average price of $18.82. 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, Inc. has a twelve month low of $14.92 and a twelve month high of $34.08.

Coupang (NYSE:CPNG) last issued its 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). The firm had revenue of $8.50 billion during the quarter, compared to the consensus estimate of $8.48 billion. Coupang had a negative return on equity of 3.67% and a negative net margin of 0.47%.The company’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same period last year, the firm posted $0.06 earnings per share. Equities research analysts anticipate that Coupang, Inc. will post -0.33 EPS for the current fiscal year.

About Coupang

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.