Coupang, Inc. $CPNG Position Lessened by Hsbc Holdings PLC

Hsbc Holdings PLC decreased its position in shares of Coupang, Inc. (NYSE:CPNG) by 26.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,092,896 shares of the company’s stock after selling 389,316 shares during the period. Hsbc Holdings PLC owned 0.06% of Coupang worth $20,611,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of CPNG. California State Teachers Retirement System raised its stake in shares of Coupang by 0.5% during the 3rd quarter. California State Teachers Retirement System now owns 78,679 shares of the company’s stock worth $2,533,000 after purchasing an additional 361 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in Coupang by 19.5% in the fourth quarter. EverSource Wealth Advisors LLC now owns 3,651 shares of the company’s stock worth $86,000 after buying an additional 597 shares during the last quarter. National Bank of Canada FI increased its holdings in Coupang by 6.6% in the third quarter. National Bank of Canada FI now owns 9,801 shares of the company’s stock worth $316,000 after buying an additional 609 shares during the last quarter. Assetmark Inc. raised its position in Coupang by 9.5% during the fourth quarter. Assetmark Inc. now owns 7,150 shares of the company’s stock valued at $169,000 after acquiring an additional 620 shares in the last quarter. Finally, Vise Technologies Inc. raised its position in Coupang by 3.0% during the fourth quarter. Vise Technologies Inc. now owns 22,302 shares of the company’s stock valued at $526,000 after acquiring an additional 642 shares in the last quarter. 83.72% of the stock is owned by institutional investors and hedge funds.

Coupang Trading Down 4.5%

Shares of NYSE:CPNG opened at $15.70 on Wednesday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.76 and a current ratio of 0.97. The stock’s 50-day moving average is $17.02 and its 200-day moving average is $18.71. The company has a market cap of $28.17 billion, a P/E ratio of -174.37 and a beta of 1.11. Coupang, Inc. has a 52-week low of $14.92 and a 52-week high of $34.08.

Coupang (NYSE:CPNG) last posted its quarterly earnings data on Tuesday, May 5th. The company reported ($0.15) earnings per share 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 analyst estimates of $8.48 billion. During the same period in the prior year, the firm posted $0.06 EPS. Coupang’s revenue for the quarter was up 7.5% on a year-over-year basis. Equities research analysts predict that Coupang, Inc. will post -0.33 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have commented on CPNG. Bank of America decreased their target price on shares of Coupang from $28.00 to $27.00 and set a “buy” rating for the company in a research report on Wednesday, June 24th. Deutsche Bank Aktiengesellschaft downgraded shares of Coupang from a “buy” rating to a “hold” rating and set a $23.00 price target on the stock. in a report on Wednesday, May 6th. CLSA started coverage on shares of Coupang in a research note on Monday, June 15th. They issued an “outperform” rating and a $24.00 price objective for the company. The Goldman Sachs Group set a $31.00 price objective on shares of Coupang in a report on Thursday, July 9th. Finally, Barclays reissued an “overweight” rating and set a $29.00 target price on shares of Coupang in a research report on Tuesday, July 7th. Five equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $26.02.

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.