Coupang (NYSE:CPNG) Reaches New 12-Month Low – Here’s What Happened

Coupang, Inc. (NYSE:CPNG) reached a new 52-week low during trading on Monday . The stock traded as low as $15.64 and last traded at $15.6850, with a volume of 7268985 shares traded. The stock had previously closed at $16.12.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Barclays increased their price objective on shares of Coupang from $24.00 to $30.00 and gave the stock an “overweight” rating in a research note on Thursday, April 23rd. UBS Group set a $25.00 price target on shares of Coupang in a research report on Thursday, February 19th. Citigroup downgraded shares of Coupang from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $23.00 to $22.20 in a report on Wednesday, May 6th. Wall Street Zen downgraded shares of Coupang from a “hold” rating to a “strong sell” rating in a report on Saturday, March 14th. Finally, Sanford C. Bernstein reaffirmed an “underperform” rating on shares of Coupang in a report on Monday, March 2nd. Four research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $26.92.

Coupang Stock Up 2.4%

The company has a quick ratio of 0.76, a current ratio of 0.97 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $28.05 billion, a P/E ratio of -173.59 and a beta of 1.20. The firm has a 50-day moving average price of $19.06 and a two-hundred day moving average price of $21.75.

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). The business had revenue of $8.50 billion during the quarter, compared to the consensus estimate of $8.48 billion. Coupang had a negative net margin of 0.47% and a negative return on equity of 3.67%. The firm’s revenue was up 7.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.06 earnings per share. Equities research analysts anticipate that Coupang, Inc. will post -0.17 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Neil Mehta bought 2,332,863 shares of the business’s stock in a transaction on Friday, March 13th. The shares were purchased at an average price of $18.40 per share, for a total transaction of $42,924,679.20. Following the purchase, the director owned 55,310,977 shares of the company’s stock, valued at approximately $1,017,721,976.80. The trade was a 4.40% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last quarter, insiders purchased 7,350,104 shares of company stock valued at $136,566,051. Insiders own 12.78% of the company’s stock.

Institutional Investors Weigh In On Coupang

A number of hedge funds have recently added to or reduced their stakes in the business. California State Teachers Retirement System boosted its position in shares of Coupang by 0.5% during the third quarter. California State Teachers Retirement System now owns 78,679 shares of the company’s stock valued at $2,533,000 after buying an additional 361 shares during the last quarter. CIBC Asset Management Inc increased its stake in Coupang by 0.6% in the 3rd quarter. CIBC Asset Management Inc now owns 65,029 shares of the company’s stock worth $2,094,000 after acquiring an additional 364 shares during the last quarter. Level Four Advisory Services LLC raised its position in shares of Coupang by 2.2% in the 3rd quarter. Level Four Advisory Services LLC now owns 20,916 shares of the company’s stock worth $673,000 after acquiring an additional 441 shares in the last quarter. Sagespring Wealth Partners LLC raised its position in shares of Coupang by 5.3% in the 3rd quarter. Sagespring Wealth Partners LLC now owns 10,596 shares of the company’s stock worth $341,000 after acquiring an additional 534 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in Coupang by 19.5% during the 4th quarter. EverSource Wealth Advisors LLC now owns 3,651 shares of the company’s stock valued at $86,000 after buying an additional 597 shares in the last quarter. 83.72% of the stock is currently owned by institutional investors.

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.