Hsbc Holdings PLC Has $35.15 Million Stake in Coupang, Inc. $CPNG

Hsbc Holdings PLC raised its stake in Coupang, Inc. (NYSE:CPNG) by 140.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,482,212 shares of the company’s stock after acquiring an additional 865,386 shares during the period. Hsbc Holdings PLC owned about 0.08% of Coupang worth $35,154,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Dodge & Cox boosted its stake in shares of Coupang by 4.9% in 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 in the last quarter. Capital International Investors increased 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 worth $970,340,000 after purchasing an additional 6,977,942 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Coupang by 3.3% during 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 during the last quarter. Tiger Global Management LLC lifted its holdings in Coupang by 65.9% during the 4th quarter. Tiger Global Management LLC now owns 26,267,259 shares of the company’s stock valued at $619,645,000 after purchasing an additional 10,429,680 shares during the last quarter. Finally, Durable Capital Partners LP boosted its position 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 buying an additional 89,207 shares in the last quarter. 83.72% of the stock is owned by institutional investors.

Coupang Stock Up 1.0%

Shares of NYSE:CPNG opened at $17.48 on Wednesday. Coupang, Inc. has a 12 month low of $14.92 and a 12 month high of $34.08. The company’s 50-day moving average price is $17.80 and its two-hundred day moving average price is $19.64. 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 firm has a market cap of $31.38 billion, a P/E ratio of -194.20 and a beta of 1.13.

Coupang (NYSE:CPNG) last posted its quarterly earnings data 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 company had revenue of $8.50 billion during the quarter, compared to analyst estimates of $8.48 billion. During the same quarter in the previous year, the business posted $0.06 EPS. The company’s revenue was up 7.5% compared to the same quarter last year. As a group, research analysts forecast that Coupang, Inc. will post -0.17 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently weighed in on CPNG shares. Weiss Ratings lowered shares of Coupang from a “sell (d+)” rating to a “sell (d)” rating in a report on Thursday, May 7th. Citigroup cut shares of Coupang from a “buy” rating to a “neutral” rating and cut their target price for the company from $23.00 to $22.20 in a research note on Wednesday, May 6th. CLSA began coverage on Coupang in a research report on Monday, June 15th. They set an “outperform” rating and a $24.00 price target on the stock. Nomura dropped their price target on Coupang from $22.00 to $20.00 and set a “neutral” rating for the company in a report on Monday, March 2nd. Finally, Wall Street Zen downgraded Coupang from a “hold” rating to a “strong sell” rating in a research report on Saturday, March 14th. 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $26.65.

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.