Coupang (NYSE:CPNG) Sets New 1-Year Low – Here’s Why

Coupang, Inc. (NYSE:CPNG)’s share price reached a new 52-week low during trading on Friday. The company traded as low as $13.35 and last traded at $13.6030, with a volume of 1874409 shares changing hands. The stock had previously closed at $13.80.

Analysts Set New Price Targets

CPNG has been the topic of a number of recent analyst reports. Barclays reaffirmed an “overweight” rating and set a $29.00 price target on shares of Coupang in a research note on Tuesday, July 7th. Deutsche Bank Aktiengesellschaft raised shares of Coupang from a “hold” rating to a “buy” rating and decreased their price objective for the stock from $23.00 to $21.50 in a report on Wednesday, August 5th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Coupang in a report on Tuesday, August 4th. The Goldman Sachs Group set a $31.00 price target on Coupang in a research note on Thursday, July 9th. Finally, Bank of America lowered their price target on Coupang from $27.00 to $24.00 and set a “buy” rating on the stock in a report on Wednesday, August 5th. Five equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $24.06.

Coupang Price Performance

The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.68 and a current ratio of 0.87. The company has a 50-day moving average of $15.48 and a 200-day moving average of $17.15. The stock has a market capitalization of $24.44 billion, a price-to-earnings ratio of -31.71 and a beta of 1.17.

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

Insider Activity

In other news, CAO Jonathan D. Lee sold 5,519 shares of Coupang stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $16.10, for a total transaction of $88,855.90. Following the completion of the sale, the chief accounting officer directly owned 181,915 shares in the company, valued at $2,928,831.50. The trade was a 2.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Harold Rogers sold 192,110 shares of the business’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 approximately $11,988,263.58. This represents a 20.59% decrease in their position. The disclosure for this sale is available in the SEC filing. 12.83% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Versant Capital Management Inc lifted its position in Coupang by 94.6% during the third quarter. Versant Capital Management Inc now owns 3,478 shares of the company’s stock worth $48,000 after buying an additional 1,691 shares during the period. Sequoia Financial Advisors LLC boosted its stake in Coupang by 18.0% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 89,534 shares of the company’s stock worth $1,555,000 after buying an additional 13,666 shares during the last quarter. MCF Advisors LLC grew its holdings in Coupang by 806.8% in the 2nd quarter. MCF Advisors LLC now owns 13,793 shares of the company’s stock valued at $240,000 after buying an additional 12,272 shares during the period. Engineers Gate Manager LP purchased a new stake in Coupang in the 2nd quarter valued at about $6,081,000. Finally, Carrhae Capital LLP acquired a new position in shares of Coupang during the 2nd quarter valued at about $38,187,000. Hedge funds and other institutional investors own 83.72% of the company’s stock.

About Coupang

Coupang, Inc is an e-commerce and technology company that operates primarily in South Korea and Taiwan. The company connects consumers with a broad selection of merchandise, including groceries, household goods, electronics, apparel, beauty products and other everyday items. Its services are supported by an integrated logistics network designed to provide fast delivery and a convenient online shopping experience.

Coupang’s offerings include its Rocket Delivery and Rocket Fresh services, which provide rapid delivery of general merchandise and groceries, respectively.