Illinois Municipal Retirement Fund Sells 53,226 Shares of Coupang, Inc. $CPNG

Illinois Municipal Retirement Fund lowered its stake in Coupang, Inc. (NYSE:CPNG) by 9.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 527,469 shares of the company’s stock after selling 53,226 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Coupang were worth $9,959,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. increased 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 worth $697,029,000 after purchasing an additional 951,812 shares in the last quarter. Ethic Inc. raised its stake in shares of Coupang by 383.2% in the 4th quarter. Ethic Inc. now owns 126,154 shares of the company’s stock valued at $2,976,000 after purchasing an additional 100,047 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Coupang by 7.5% in the fourth quarter. Geode Capital Management LLC now owns 24,327,724 shares of the company’s stock valued at $574,068,000 after purchasing an additional 1,689,293 shares in the last quarter. SG Americas Securities LLC lifted its holdings in shares of Coupang by 10,004.5% in the fourth quarter. SG Americas Securities LLC now owns 988,722 shares of the company’s stock valued at $23,324,000 after purchasing an additional 978,937 shares in the last quarter. Finally, M&T Bank Corp boosted its position in shares of Coupang by 22.7% during the fourth quarter. M&T Bank Corp now owns 318,971 shares of the company’s stock worth $7,525,000 after buying an additional 59,013 shares during the period. Institutional investors and hedge funds own 83.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Bank of America decreased their price objective on Coupang from $28.00 to $27.00 and set a “buy” rating for the company in a report on Wednesday, June 24th. Deutsche Bank Aktiengesellschaft cut Coupang from a “buy” rating to a “hold” rating and set a $23.00 target price on the stock. in a research note on Wednesday, May 6th. CLSA started coverage on Coupang in a research report on Monday, June 15th. They set an “outperform” rating and a $24.00 price target for the company. Citigroup cut shares of Coupang from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $23.00 to $22.20 in a research note on Wednesday, May 6th. Finally, Weiss Ratings downgraded shares of Coupang from a “sell (d+)” rating to a “sell (d)” rating in a report on Thursday, May 7th. Five analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $26.02.

Coupang Stock Performance

CPNG opened at $16.86 on Friday. Coupang, Inc. has a 12-month low of $14.92 and a 12-month high of $34.08. The stock has a market cap of $30.27 billion, a price-to-earnings ratio of -187.35 and a beta of 1.11. The business has a 50 day moving average of $17.02 and a 200-day moving average of $18.87. The company has a quick ratio of 0.76, a current ratio of 0.97 and a debt-to-equity ratio of 0.16.

Coupang (NYSE:CPNG) last issued its earnings results on Tuesday, May 5th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.06). Coupang had a negative return on equity of 3.67% and a negative net margin of 0.47%.The business had revenue of $8.50 billion for the quarter, compared to the consensus estimate of $8.48 billion. During the same quarter in the prior year, the firm posted $0.06 earnings per share. The business’s revenue was up 7.5% compared to the same quarter last year. On average, equities research analysts expect that Coupang, Inc. will post -0.33 earnings per share for the current year.

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.