Coupang (NYSE:CPNG) Downgraded by Wall Street Zen to Hold

Wall Street Zen downgraded shares of Coupang (NYSE:CPNG) from a buy rating to a hold rating in a research note published on Sunday morning.

CPNG has been the subject of several other reports. Mizuho upgraded Coupang to a “hold” rating in a research report on Friday, April 18th. Barclays boosted their target price on Coupang from $35.00 to $36.00 and gave the stock an “overweight” rating in a research report on Thursday, May 8th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $30.08.

Coupang Price Performance

Shares of CPNG stock opened at $30.90 on Friday. The stock has a 50-day moving average price of $26.77 and a 200 day moving average price of $24.20. The company has a quick ratio of 0.90, a current ratio of 1.16 and a debt-to-equity ratio of 0.23. The firm has a market cap of $56.09 billion, a price-to-earnings ratio of 220.68 and a beta of 1.15. Coupang has a 12 month low of $18.16 and a 12 month high of $30.91.

Coupang (NYSE:CPNG) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.01). The firm had revenue of $7.91 billion during the quarter, compared to analyst estimates of $8.02 billion. Coupang had a return on equity of 10.07% and a net margin of 0.82%. The company’s revenue for the quarter was up 11.2% compared to the same quarter last year. Research analysts expect that Coupang will post 0.17 EPS for the current year.

Insider Activity at Coupang

In other Coupang news, Director Benjamin Sun sold 200,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $28.36, for a total value of $5,672,000.00. Following the sale, the director now owns 1,319,421 shares in the company, valued at approximately $37,418,779.56. The trade was a 13.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Gaurav Anand sold 75,350 shares of the company’s stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $26.10, for a total value of $1,966,635.00. Following the sale, the chief financial officer now owns 2,267,290 shares in the company, valued at approximately $59,176,269. This represents a 3.22% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 40,459,697 shares of company stock worth $1,067,780,811. 12.78% of the stock is owned by company insiders.

Institutional Investors Weigh In On Coupang

Institutional investors and hedge funds have recently made changes to their positions in the stock. SVB Wealth LLC bought a new stake in shares of Coupang during the 1st quarter worth approximately $28,000. Bank Julius Baer & Co. Ltd Zurich bought a new stake in Coupang in the 1st quarter valued at $30,000. Grove Bank & Trust bought a new stake in Coupang in the 1st quarter valued at $33,000. Brooklyn Investment Group raised its stake in Coupang by 43.1% in the 1st quarter. Brooklyn Investment Group now owns 1,680 shares of the company’s stock valued at $37,000 after acquiring an additional 506 shares during the period. Finally, Itau Unibanco Holding S.A. raised its stake in Coupang by 520.6% in the 4th quarter. Itau Unibanco Holding S.A. now owns 1,955 shares of the company’s stock valued at $43,000 after acquiring an additional 1,640 shares during the period. Institutional investors own 83.72% of the company’s stock.

About Coupang

Coupang, Inc, together with its subsidiaries owns and operates retail business through its mobile applications and Internet websites primarily in South Korea. The company operates through Product Commerce and Developing Offerings segments. It 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.