abrdn plc acquired a new stake in Coupang, Inc. (NYSE:CPNG – Get Rating) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 39,371 shares of the company’s stock, valued at approximately $713,000.
Several other institutional investors and hedge funds have also made changes to their positions in CPNG. Capital International Investors lifted its position in shares of Coupang by 970.2% in the fourth quarter. Capital International Investors now owns 69,895,456 shares of the company’s stock valued at $2,053,528,000 after acquiring an additional 63,364,316 shares in the last quarter. Massachusetts Institute of Technology purchased a new stake in shares of Coupang in the fourth quarter valued at $475,901,000. Capital World Investors lifted its position in shares of Coupang by 210.2% in the fourth quarter. Capital World Investors now owns 20,089,943 shares of the company’s stock valued at $590,243,000 after acquiring an additional 13,614,268 shares in the last quarter. Abrams Capital Management L.P. lifted its position in shares of Coupang by 119.6% in the fourth quarter. Abrams Capital Management L.P. now owns 9,694,810 shares of the company’s stock valued at $284,834,000 after acquiring an additional 5,280,534 shares in the last quarter. Finally, Altos Ventures Management Inc. purchased a new position in Coupang during the fourth quarter worth about $109,052,000. 73.49% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several research firms recently weighed in on CPNG. Morgan Stanley began coverage on Coupang in a research report on Wednesday, June 29th. They set an “overweight” rating and a $18.00 target price on the stock. Credit Suisse Group upgraded Coupang from a “neutral” rating to an “outperform” rating and reduced their target price for the stock from $28.00 to $19.00 in a research report on Thursday, June 30th. JPMorgan Chase & Co. upgraded Coupang from a “neutral” rating to an “overweight” rating and reduced their target price for the stock from $25.00 to $17.00 in a research report on Friday, May 6th. Citigroup raised their price objective on Coupang to $17.00 in a report on Thursday, June 9th. Finally, The Goldman Sachs Group restated a “buy” rating and issued a $37.00 price objective on shares of Coupang in a report on Friday, April 8th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Coupang presently has an average rating of “Moderate Buy” and an average price target of $21.00.
Insider Buying and Selling at Coupang
Coupang Price Performance
CPNG stock opened at $18.37 on Wednesday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.91 and a current ratio of 1.22. Coupang, Inc. has a 1 year low of $8.98 and a 1 year high of $40.38. The firm has a market cap of $32.38 billion, a P/E ratio of -21.87 and a beta of 1.37. The stock has a 50-day simple moving average of $14.38 and a 200-day simple moving average of $16.85.
Coupang (NYSE:CPNG – Get Rating) last issued its quarterly earnings data on Wednesday, May 11th. The company reported ($0.12) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.59) by $0.47. Coupang had a negative return on equity of 48.47% and a negative net margin of 7.54%. The firm had revenue of $5.12 billion during the quarter, compared to analyst estimates of $5.11 billion. During the same quarter last year, the firm earned ($0.68) EPS. On average, equities analysts predict that Coupang, Inc. will post -0.4 earnings per share for the current fiscal year.
Coupang, Inc owns and operates in e-commerce business through its mobile applications and Internet websites primarily in South Korea. It operates through two segments, Product Commerce and Growth Initiatives. The company sells various products and services in the categories of home goods and décor products, apparel, beauty products, fresh food and groceries, sporting goods, electronics, and everyday consumables, as well as travel, and restaurant order and delivery services.
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