Healthcare of Ontario Pension Plan Trust Fund Acquires New Shares in Coupang, Inc. $CPNG

Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Coupang, Inc. (NYSE:CPNG) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 781,300 shares of the company’s stock, valued at approximately $14,751,000.

Other institutional investors have also recently made changes to their positions in the company. Sunbelt Securities Inc. bought a new position in shares of Coupang in the third quarter worth $26,000. Reflection Asset Management bought a new stake in shares of Coupang during the 4th quarter valued at $28,000. Webster Bank N. A. raised its stake in shares of Coupang by 325.8% during the 1st quarter. Webster Bank N. A. now owns 1,699 shares of the company’s stock valued at $32,000 after purchasing an additional 1,300 shares during the period. Main Street Group LTD bought a new stake in shares of Coupang during the 1st quarter valued at $40,000. Finally, Aster Capital Management DIFC Ltd purchased a new stake in Coupang during the 4th quarter worth about $42,000. Hedge funds and other institutional investors own 83.72% of the company’s stock.

Coupang Price Performance

NYSE:CPNG opened at $15.97 on Tuesday. Coupang, Inc. has a 52-week low of $14.92 and a 52-week high of $34.08. The stock has a fifty day moving average of $16.98 and a 200 day moving average of $18.49. 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 firm has a market capitalization of $28.68 billion, a price-to-earnings ratio of -177.48 and a beta of 1.11.

Coupang (NYSE:CPNG) last announced its earnings results on Tuesday, May 5th. The company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $8.48 billion. During the same quarter in the prior year, the company earned $0.06 earnings per share. Coupang’s revenue was up 7.5% compared to the same quarter last year. On average, research analysts expect that Coupang, Inc. will post -0.33 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on CPNG shares. Citigroup downgraded Coupang from a “buy” rating to a “neutral” rating and cut their target price for the stock from $23.00 to $22.20 in a research note on Wednesday, May 6th. The Goldman Sachs Group set a $31.00 price objective on shares of Coupang in a research report on Thursday, July 9th. CLSA started coverage on shares of Coupang in a research note on Monday, June 15th. They set an “outperform” rating and a $24.00 price objective for the company. Weiss Ratings cut shares of Coupang from a “sell (d+)” rating to a “sell (d)” rating in a research note on Thursday, May 7th. Finally, Barclays reaffirmed an “overweight” rating and set a $29.00 target price on shares of Coupang in a report on Tuesday, July 7th. Five analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Coupang presently has a consensus rating of “Hold” and an average target price 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.