Royal Bank of Canada Has $14.56 Million Stock Holdings in Coupang, Inc. $CPNG

Royal Bank of Canada lowered its stake in Coupang, Inc. (NYSE:CPNG) by 41.3% during the first quarter, Holdings Channel.com reports. The fund owned 771,265 shares of the company’s stock after selling 543,302 shares during the period. Royal Bank of Canada’s holdings in Coupang were worth $14,561,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Sunbelt Securities Inc. acquired a new position in shares of Coupang during the 3rd quarter worth approximately $26,000. Reflection Asset Management acquired a new stake in shares of Coupang in the 4th quarter valued at approximately $28,000. Webster Bank N. A. boosted its holdings in shares of Coupang by 325.8% in the 1st quarter. Webster Bank N. A. now owns 1,699 shares of the company’s stock valued at $32,000 after buying an additional 1,300 shares during the last quarter. Main Street Group LTD bought a new position in shares of Coupang in the first quarter valued at $40,000. Finally, Aster Capital Management DIFC Ltd acquired a new position in Coupang during the fourth quarter worth $42,000. Institutional investors own 83.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CPNG. Barclays reissued an “overweight” rating and issued a $29.00 price objective on shares of Coupang in a research report on Tuesday, July 7th. Citigroup cut Coupang from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $23.00 to $22.20 in a report on Wednesday, May 6th. Weiss Ratings reissued a “sell (d)” rating on shares of Coupang in a research report on Tuesday. The Goldman Sachs Group set a $31.00 price objective on Coupang in a research note on Thursday, July 9th. Finally, Bank of America cut their price objective on Coupang from $27.00 to $24.00 and set a “buy” rating for the company in a research report on Wednesday. Six analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $25.39.

Coupang Stock Down 0.6%

CPNG stock opened at $16.25 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 debt-to-equity ratio of 0.21, a current ratio of 0.87 and a quick ratio of 0.76. The stock has a market capitalization of $29.18 billion, a price-to-earnings ratio of -37.80 and a beta of 1.13. The business’s fifty day moving average price is $17.01 and its two-hundred day moving average price is $18.15.

Coupang (NYSE:CPNG) last released its quarterly 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 net margin of 2.16% and a negative return on equity of 8.77%. The business had revenue of $8.50 billion during the quarter, compared to analyst estimates of $8.48 billion. During the same quarter last year, the company posted $0.06 earnings per share. The company’s revenue was up 7.5% on a year-over-year basis. On average, equities analysts anticipate that Coupang, Inc. will post -0.36 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.