Strs Ohio Lowers Position in Coupang, Inc. $CPNG

Strs Ohio cut its stake in Coupang, Inc. (NYSE:CPNG) by 13.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 300,255 shares of the company’s stock after selling 45,258 shares during the period. Strs Ohio’s holdings in Coupang were worth $7,083,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Sunbelt Securities Inc. purchased a new stake in Coupang in the third quarter worth about $26,000. Orion Capital Management LLC purchased a new position in shares of Coupang during the third quarter valued at approximately $32,000. Fifth Third Bancorp lifted its holdings in shares of Coupang by 1,250.0% during the third quarter. Fifth Third Bancorp now owns 1,080 shares of the company’s stock valued at $35,000 after purchasing an additional 1,000 shares during the last quarter. Root Financial Partners LLC purchased a new position in shares of Coupang during the third quarter valued at approximately $40,000. Finally, Colonial Trust Advisors purchased a new position in shares of Coupang during the third quarter valued at approximately $48,000. 83.72% of the stock is currently owned by hedge funds and other institutional investors.

Coupang Price Performance

Shares of NYSE CPNG opened at $20.29 on Tuesday. Coupang, Inc. has a twelve month low of $16.74 and a twelve month high of $34.08. The firm has a market cap of $37.10 billion, a P/E ratio of 169.12 and a beta of 1.20. The company has a 50 day moving average of $19.54 and a 200 day moving average of $22.89. The company has a quick ratio of 0.79, a current ratio of 1.04 and a debt-to-equity ratio of 0.14.

Coupang (NYSE:CPNG) last announced its quarterly earnings data on Thursday, February 26th. The company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.03). Coupang had a return on equity of 4.52% and a net margin of 0.60%.The firm had revenue of $8.84 billion during the quarter, compared to analysts’ expectations of $9.12 billion. During the same quarter in the previous year, the firm earned $0.04 earnings per share. Coupang’s revenue was up 10.9% on a year-over-year basis. As a group, research analysts expect that Coupang, Inc. will post -0.15 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Neil Mehta acquired 3,000,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 12th. The stock was bought at an average cost of $18.68 per share, for a total transaction of $56,040,000.00. Following the acquisition, the director directly owned 52,978,114 shares in the company, valued at approximately $989,631,169.52. The trade was a 6.00% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. In the last ninety days, insiders have purchased 7,350,104 shares of company stock valued at $136,566,051. 12.78% of the stock is owned by insiders.

Analysts Set New Price Targets

CPNG has been the subject of several recent research reports. Wall Street Zen lowered shares of Coupang from a “hold” rating to a “strong sell” rating in a report on Saturday, March 14th. Sanford C. Bernstein reiterated an “underperform” rating on shares of Coupang in a report on Monday, March 2nd. Citigroup lowered their target price on shares of Coupang from $27.00 to $24.00 and set a “buy” rating for the company in a report on Tuesday, February 10th. Mizuho lowered their target price on shares of Coupang from $32.00 to $25.00 and set a “neutral” rating for the company in a report on Friday, February 27th. Finally, Weiss Ratings lowered shares of Coupang from a “hold (c)” rating to a “sell (d+)” rating in a report on Monday, March 2nd. Six analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Coupang presently has a consensus rating of “Hold” and a consensus target price of $27.30.

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.