Coupang (NYSE:CPNG) Sets New 12-Month Low – Here’s What Happened

Coupang, Inc. (NYSE:CPNG) hit a new 52-week low during trading on Monday . The company traded as low as $14.92 and last traded at $15.3520, with a volume of 2507935 shares trading hands. The stock had previously closed at $15.15.

Analyst Ratings Changes

A number of research firms have recently weighed in on CPNG. Barclays raised their price target on Coupang from $24.00 to $30.00 and gave the stock an “overweight” rating in a research note on Thursday, April 23rd. Sanford C. Bernstein reissued an “underperform” rating on shares of Coupang in a research note on Monday, March 2nd. Citigroup downgraded Coupang from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $23.00 to $22.20 in a report on Wednesday, May 6th. Weiss Ratings cut shares of Coupang from a “sell (d+)” rating to a “sell (d)” rating in a research note on Thursday, May 7th. Finally, Morgan Stanley decreased their target price on shares of Coupang from $31.00 to $29.00 and set an “overweight” rating for the company in a research report on Monday, March 2nd. Four analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $26.92.

Coupang Stock Performance

The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.76 and a current ratio of 0.97. The company has a market cap of $27.96 billion, a P/E ratio of -172.88 and a beta of 1.13. The firm has a 50 day moving average price of $18.26 and a 200-day moving average price of $20.51.

Coupang (NYSE:CPNG) last issued its quarterly earnings data on Tuesday, May 5th. The company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.06). The company had revenue of $8.50 billion during the quarter, compared to the consensus estimate 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 period in the previous year, the business posted $0.06 earnings per share. On average, research analysts predict that Coupang, Inc. will post -0.17 EPS for the current year.

Insider Activity at Coupang

In other news, Director Neil Mehta acquired 3,000,000 shares of Coupang stock in a transaction dated Thursday, March 12th. The stock was acquired at an average cost of $18.68 per share, for a total transaction of $56,040,000.00. Following the completion of the purchase, the director owned 52,978,114 shares of the company’s stock, valued at $989,631,169.52. This represents a 6.00% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Insiders have purchased a total of 7,350,104 shares of company stock valued at $136,566,051 over the last 90 days. Company insiders own 12.83% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Dodge & Cox boosted its holdings in Coupang by 4.9% during the fourth quarter. Dodge & Cox now owns 49,233,320 shares of the company’s stock valued at $1,161,414,000 after acquiring an additional 2,285,600 shares during the period. Capital International Investors grew 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 purchasing an additional 6,977,942 shares during the last quarter. Tiger Global Management LLC increased its stake in shares of Coupang by 31.7% in the first quarter. Tiger Global Management LLC now owns 34,595,407 shares of the company’s stock worth $653,161,000 after purchasing an additional 8,328,148 shares during the period. Vanguard Group Inc. lifted its position in shares of Coupang by 3.3% during the 4th quarter. Vanguard Group Inc. now owns 29,547,637 shares of the company’s stock worth $697,029,000 after purchasing an additional 951,812 shares during the last quarter. Finally, Durable Capital Partners LP lifted its position in shares of Coupang by 0.4% during the 3rd quarter. Durable Capital Partners LP now owns 24,833,189 shares of the company’s stock worth $799,629,000 after purchasing an additional 89,207 shares during the last quarter. Institutional investors own 83.72% of the company’s stock.

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.