Principal Financial Group Inc. Boosts Holdings in Coupang, Inc. $CPNG

Principal Financial Group Inc. increased its stake in shares of Coupang, Inc. (NYSE:CPNG) by 115.7% during the 1st quarter, Holdings Channel.com reports. The fund owned 58,416 shares of the company’s stock after purchasing an additional 31,338 shares during the quarter. Principal Financial Group Inc.’s holdings in Coupang were worth $1,103,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CPNG. Sunbelt Securities Inc. acquired a new position in Coupang in the third quarter valued at $26,000. Reflection Asset Management purchased a new position in shares of Coupang during the fourth quarter worth about $28,000. LGT Financial Advisors LLC acquired a new stake in shares of Coupang during the third quarter worth about $52,000. Webster Bank N. A. increased its position in shares of Coupang by 325.8% during the first quarter. Webster Bank N. A. now owns 1,699 shares of the company’s stock worth $32,000 after purchasing an additional 1,300 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd purchased a new stake in shares of Coupang in the 4th quarter valued at about $42,000. 83.72% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on CPNG shares. Bank of America decreased their target price on Coupang from $28.00 to $27.00 and set a “buy” rating for the company in a research report on Wednesday, June 24th. Weiss Ratings lowered Coupang from a “sell (d+)” rating to a “sell (d)” rating in a research report on Thursday, May 7th. Citigroup cut Coupang from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $23.00 to $22.20 in a research note on Wednesday, May 6th. The Goldman Sachs Group set a $31.00 price objective on Coupang in a report on Thursday, July 9th. Finally, CLSA began coverage on shares of Coupang in a research report on Monday, June 15th. They set an “outperform” rating and a $24.00 target price on the stock. Five analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $25.93.

Coupang Price Performance

Shares of CPNG opened at $16.41 on Friday. Coupang, Inc. has a fifty-two week low of $14.92 and a fifty-two week high of $34.08. The company has a market capitalization of $29.45 billion, a price-to-earnings ratio of -182.29 and a beta of 1.11. The firm has a 50-day simple moving average of $16.99 and a 200-day simple moving average of $18.33. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.76 and a current ratio of 0.97.

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

Coupang 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.