Coupang, Inc. $CPNG Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System trimmed its position in shares of Coupang, Inc. (NYSE:CPNG) by 26.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,627,175 shares of the company’s stock after selling 574,626 shares during the quarter. California Public Employees Retirement System owned approximately 0.09% of Coupang worth $30,721,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in CPNG. Dodge & Cox increased its holdings in Coupang by 4.9% in the fourth quarter. Dodge & Cox now owns 49,233,320 shares of the company’s stock valued at $1,161,414,000 after buying an additional 2,285,600 shares in the last quarter. Capital International Investors grew its position in shares of 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 during the period. Vanguard Group Inc. increased its stake 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 purchasing an additional 951,812 shares in the last quarter. Tiger Global Management LLC raised its holdings in Coupang by 65.9% in the 4th quarter. Tiger Global Management LLC now owns 26,267,259 shares of the company’s stock worth $619,645,000 after purchasing an additional 10,429,680 shares during the period. Finally, Durable Capital Partners LP grew its holdings in Coupang by 0.4% in the third quarter. Durable Capital Partners LP now owns 24,833,189 shares of the company’s stock valued at $799,629,000 after purchasing an additional 89,207 shares during the period. 83.72% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on CPNG shares. Weiss Ratings downgraded Coupang from a “sell (d+)” rating to a “sell (d)” rating in a research note on Thursday, May 7th. Bank of America reduced their price objective on shares of Coupang from $28.00 to $27.00 and set a “buy” rating for the company in a research report on Wednesday, June 24th. CLSA assumed coverage on shares of Coupang in a research report 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 price target on shares of Coupang in a research report on Thursday, July 9th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Coupang from a “buy” rating to a “hold” rating and set a $23.00 price target on the stock. in a research note on Wednesday, May 6th. Five analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $26.02.

Coupang Stock Performance

NYSE:CPNG opened at $15.70 on Wednesday. The company has a market cap of $28.17 billion, a P/E ratio of -174.37 and a beta of 1.11. Coupang, Inc. has a twelve month low of $14.92 and a twelve month high of $34.08. The company’s 50-day moving average price is $17.02 and its 200-day moving average price is $18.71. The company has a current ratio of 0.97, a quick ratio of 0.76 and a debt-to-equity ratio of 0.16.

Coupang (NYSE:CPNG) last released its quarterly earnings data on Tuesday, May 5th. The company reported ($0.15) 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 quarter in the previous year, the company posted $0.06 EPS. On average, sell-side analysts forecast that Coupang, Inc. will post -0.33 earnings per share 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.