Royal Bank of Canada Reduces Stock Position in Coupang, Inc. $CPNG

Royal Bank of Canada trimmed its holdings in Coupang, Inc. (NYSE:CPNG) by 41.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 771,265 shares of the company’s stock after selling 543,302 shares during the period. Royal Bank of Canada’s holdings in Coupang were worth $14,561,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. California State Teachers Retirement System increased its holdings in Coupang by 0.5% in the third quarter. California State Teachers Retirement System now owns 78,679 shares of the company’s stock valued at $2,533,000 after purchasing an additional 361 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Coupang by 19.5% during 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 grew its position in shares of Coupang by 6.6% during the 3rd 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 period. Assetmark Inc. grew its position in shares of Coupang by 9.5% during the 4th quarter. Assetmark Inc. now owns 7,150 shares of the company’s stock worth $169,000 after buying an additional 620 shares during the period. Finally, Vise Technologies Inc. increased its stake in shares of Coupang by 3.0% in the 4th quarter. Vise Technologies Inc. now owns 22,302 shares of the company’s stock valued at $526,000 after acquiring an additional 642 shares during the last quarter. Institutional investors and hedge funds own 83.72% of the company’s stock.

Coupang Price Performance

CPNG stock opened at $16.25 on Friday. The stock has a 50-day moving average price of $17.01 and a two-hundred day moving average price of $18.15. The stock has a market cap of $29.18 billion, a PE ratio of -37.80 and a beta of 1.13. The company has a current ratio of 0.87, a quick ratio of 0.76 and a debt-to-equity ratio of 0.21. Coupang, Inc. has a 1 year low of $14.92 and a 1 year high of $34.08.

Coupang (NYSE:CPNG) last issued 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). Coupang had a negative net margin of 2.16% and a negative return on equity of 8.77%. The firm had revenue of $8.50 billion during the quarter, compared to the consensus estimate of $8.48 billion. During the same quarter last year, the firm earned $0.06 earnings per share. The business’s revenue for the quarter was up 7.5% on a year-over-year basis. Equities analysts forecast that Coupang, Inc. will post -0.36 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Weiss Ratings reiterated a “sell (d)” rating on shares of Coupang in a research report on Tuesday. CLSA initiated coverage on shares of Coupang in a report on Monday, June 15th. They set an “outperform” rating and a $24.00 price objective for the company. Mizuho set a $22.00 target price on shares of Coupang in a report on Wednesday. Bank of America reduced their price target on shares of Coupang from $27.00 to $24.00 and set a “buy” rating on the stock in a research report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft raised shares of Coupang from a “hold” rating to a “buy” rating and decreased their price target for the company from $23.00 to $21.50 in a report on Wednesday. Six investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Coupang currently has an average rating of “Hold” and a consensus target price of $25.39.

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.