Allspring Global Investments Holdings LLC Invests $9.77 Million in Coupang, Inc. $CPNG

Allspring Global Investments Holdings LLC bought a new stake in Coupang, Inc. (NYSE:CPNG) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 516,574 shares of the company’s stock, valued at approximately $9,774,000.

Several other hedge funds also recently made changes to their positions in the company. Sunbelt Securities Inc. purchased a new stake in Coupang in the third quarter worth $26,000. Reflection Asset Management purchased a new position in Coupang during the fourth quarter valued at $28,000. Webster Bank N. A. boosted its holdings in shares of Coupang by 325.8% during the 1st quarter. Webster Bank N. A. now owns 1,699 shares of the company’s stock valued at $32,000 after buying an additional 1,300 shares in the last quarter. Aster Capital Management DIFC Ltd bought a new stake in shares of Coupang during the 4th quarter valued at $42,000. Finally, Root Financial Partners LLC grew its position in shares of Coupang by 68.5% in the 1st quarter. Root Financial Partners LLC now owns 2,265 shares of the company’s stock worth $43,000 after buying an additional 921 shares during the period. 83.72% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Barclays reiterated an “overweight” rating and issued a $29.00 price target on shares of Coupang in a research note on Tuesday, July 7th. Bank of America cut their price objective on shares of Coupang from $28.00 to $27.00 and set a “buy” rating on the stock in a report on Wednesday, June 24th. 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 lowered shares of Coupang from a “buy” rating to a “hold” rating and set a $23.00 target price for the company. in a report on Wednesday, May 6th. Finally, Citigroup cut Coupang from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $23.00 to $22.20 in a research report on Wednesday, May 6th. Five equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $26.02.

Coupang Trading Down 0.2%

NYSE:CPNG opened at $15.72 on Thursday. The company’s 50 day moving average price is $17.01 and its 200-day moving average price is $18.65. Coupang, Inc. has a 52 week low of $14.92 and a 52 week high of $34.08. 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 stock has a market cap of $28.23 billion, a price-to-earnings ratio of -174.70 and a beta of 1.11.

Coupang (NYSE:CPNG) last announced its quarterly earnings results on Tuesday, May 5th. The company reported ($0.15) earnings per share 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 for the quarter, compared to the consensus estimate of $8.48 billion. During the same period last year, the business earned $0.06 EPS. Coupang’s revenue was up 7.5% on a year-over-year basis. On average, equities research 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.