State of Wyoming Increases Stock Holdings in Coupang, Inc. $CPNG

State of Wyoming raised its position in shares of Coupang, Inc. (NYSE:CPNG) by 78.7% in the first quarter, HoldingsChannel reports. The firm owned 120,287 shares of the company’s stock after buying an additional 52,987 shares during the quarter. Coupang makes up 0.3% of State of Wyoming’s investment portfolio, making the stock its 23rd largest position. State of Wyoming’s holdings in Coupang were worth $2,271,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Coronation Fund Managers Ltd. boosted its holdings in shares of Coupang by 98.3% in the first quarter. Coronation Fund Managers Ltd. now owns 11,771,286 shares of the company’s stock worth $222,242,000 after buying an additional 5,835,072 shares during the last quarter. NewEdge Wealth LLC grew its position in Coupang by 5.2% during the first quarter. NewEdge Wealth LLC now owns 16,917 shares of the company’s stock valued at $319,000 after buying an additional 840 shares during the period. IVY Lane Capital Management LLC purchased a new stake in Coupang during the first quarter valued at approximately $1,510,000. Dimensional Fund Advisors LP increased its holdings in Coupang by 20.1% during the first quarter. Dimensional Fund Advisors LP now owns 4,366,766 shares of the company’s stock valued at $82,404,000 after buying an additional 732,300 shares during the last quarter. Finally, Main Street Group LTD bought a new position in Coupang in the first quarter worth approximately $40,000. Hedge funds and other institutional investors own 83.72% of the company’s stock.

Coupang Trading Down 0.2%

Shares of Coupang stock opened at $15.72 on Thursday. 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 0.16, a quick ratio of 0.76 and a current ratio of 0.97. The company has a market capitalization of $28.23 billion, a P/E ratio of -174.70 and a beta of 1.11. The company has a fifty day moving average of $17.01 and a 200 day moving average of $18.65.

Coupang (NYSE:CPNG) last posted its quarterly earnings results on Tuesday, May 5th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.06). The business had revenue of $8.50 billion for 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%. Coupang’s revenue was up 7.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.06 earnings per share. On average, sell-side analysts anticipate that Coupang, Inc. will post -0.33 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

CPNG has been the topic of several analyst reports. Citigroup cut shares of Coupang from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $23.00 to $22.20 in a research note on Wednesday, May 6th. CLSA initiated coverage on Coupang in a research report on Monday, June 15th. They set an “outperform” rating and a $24.00 target price on the stock. Barclays reissued an “overweight” rating and set a $29.00 price target on shares of Coupang in a report on Tuesday, July 7th. Weiss Ratings downgraded Coupang from a “sell (d+)” rating to a “sell (d)” rating in a research note on Thursday, May 7th. Finally, Bank of America lowered their price objective on Coupang from $28.00 to $27.00 and set a “buy” rating on the stock in a research report on Wednesday, June 24th. Five equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $26.02.

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.