Coupang (NYSE:CPNG) Sets New 12-Month Low – Time to Sell?

Coupang, Inc. (NYSE:CPNG) shares hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $14.88 and last traded at $15.02, with a volume of 1481044 shares changing hands. The stock had previously closed at $15.29.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. The Goldman Sachs Group set a $31.00 target price on shares of Coupang in a research note on Thursday, July 9th. Deutsche Bank Aktiengesellschaft raised shares of Coupang from a “hold” rating to a “buy” rating and reduced their price target for the company from $23.00 to $21.50 in a research note on Wednesday, August 5th. Bank of America decreased their price objective on shares of Coupang from $27.00 to $24.00 and set a “buy” rating on the stock in a report on Wednesday, August 5th. Barclays reaffirmed an “overweight” rating and set a $29.00 price objective on shares of Coupang in a research report on Tuesday, July 7th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Coupang in a report on Tuesday, August 4th. Six analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $25.39.

Coupang Stock Down 0.4%

The company has a market capitalization of $26.50 billion, a PE ratio of -34.29 and a beta of 1.15. The company has a current ratio of 0.87, a quick ratio of 0.68 and a debt-to-equity ratio of 0.21. The business has a fifty day moving average of $16.53 and a 200 day moving average of $17.67.

Coupang (NYSE:CPNG) last issued its quarterly earnings results on Tuesday, August 4th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.18. The company had revenue of $8.86 billion for the quarter, compared to analyst estimates of $8.92 billion. Coupang had a negative net margin of 2.16% and a negative return on equity of 8.77%. The business’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.02 earnings per share. Equities research analysts anticipate that Coupang, Inc. will post -0.46 EPS for the current year.

Insider Activity at Coupang

In other Coupang news, CAO Jonathan D. Lee sold 5,519 shares of the stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $16.10, for a total transaction of $88,855.90. Following the sale, the chief accounting officer directly owned 181,915 shares in the company, valued at $2,928,831.50. This represents a 2.94% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Harold Rogers sold 192,110 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $16.18, for a total transaction of $3,108,339.80. Following the completion of the transaction, the insider directly owned 740,931 shares of the company’s stock, valued at $11,988,263.58. This represents a 20.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 12.83% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC raised its position in Coupang by 72.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,316 shares of the company’s stock valued at $99,000 after purchasing an additional 1,395 shares in the last quarter. Baird Financial Group Inc. grew its position in shares of Coupang by 52.8% during the second quarter. Baird Financial Group Inc. now owns 23,471 shares of the company’s stock worth $703,000 after buying an additional 8,107 shares in the last quarter. Cerity Partners LLC grew its position in shares of Coupang by 48.1% during the second quarter. Cerity Partners LLC now owns 45,252 shares of the company’s stock worth $1,356,000 after buying an additional 14,703 shares in the last quarter. State Street Corp increased its stake in shares of Coupang by 8.4% during the second quarter. State Street Corp now owns 15,641,775 shares of the company’s stock worth $468,628,000 after buying an additional 1,210,801 shares during the period. Finally, AXA S.A. purchased a new stake in shares of Coupang during the second quarter worth approximately $411,000. 83.72% of the stock is currently owned by hedge funds and other institutional investors.

About Coupang

Coupang, Inc (NYSE: CPNG) is an e-commerce and technology company founded in South Korea in 2010. The company operates an online marketplace offering consumer goods across categories such as electronics, household products, apparel, beauty products and groceries.

Its services include Rocket Delivery, a logistics and fulfillment network designed to provide fast delivery; Rocket Fresh, its grocery delivery service; and Coupang Eats, a food-ordering and delivery platform. Coupang also operates Coupang Play, a subscription-based streaming service, and Coupang Pay, a digital payments service.

Coupang serves customers primarily in South Korea and Taiwan.