Coupang, Inc. $CPNG Stake Reduced by Brooklands Fund Management Ltd

Brooklands Fund Management Ltd cut its stake in Coupang, Inc. (NYSE:CPNG) by 96.8% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 55,012 shares of the company’s stock after selling 1,644,988 shares during the period. Coupang accounts for 1.2% of Brooklands Fund Management Ltd’s holdings, making the stock its 24th biggest holding. Brooklands Fund Management Ltd’s holdings in Coupang were worth $1,039,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in CPNG. Dodge & Cox grew its position in shares of Coupang by 4.9% during the fourth quarter. Dodge & Cox now owns 49,233,320 shares of the company’s stock worth $1,161,414,000 after acquiring an additional 2,285,600 shares during the last quarter. Capital International Investors lifted its position in Coupang by 20.4% in the 4th quarter. Capital International Investors now owns 41,131,036 shares of the company’s stock valued at $970,340,000 after purchasing an additional 6,977,942 shares during the last quarter. Vanguard Group Inc. lifted its position in Coupang by 3.3% in the 4th quarter. Vanguard Group Inc. now owns 29,547,637 shares of the company’s stock valued at $697,029,000 after purchasing an additional 951,812 shares during the last quarter. Tiger Global Management LLC boosted its stake in Coupang by 65.9% during the 4th quarter. Tiger Global Management LLC now owns 26,267,259 shares of the company’s stock valued at $619,645,000 after purchasing an additional 10,429,680 shares during the period. Finally, Durable Capital Partners LP grew its position in Coupang by 0.4% in the 3rd quarter. Durable Capital Partners LP now owns 24,833,189 shares of the company’s stock worth $799,629,000 after purchasing an additional 89,207 shares during the last quarter. 83.72% of the stock is owned by institutional investors and hedge funds.

Coupang Price Performance

NYSE CPNG opened at $15.64 on Friday. Coupang, Inc. has a 12 month low of $14.92 and a 12 month high of $34.08. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.97 and a quick ratio of 0.76. The firm has a market capitalization of $28.07 billion, a PE ratio of -173.73 and a beta of 1.11. The company’s 50 day simple moving average is $16.99 and its 200 day simple moving average is $18.60.

Coupang (NYSE:CPNG) last announced its earnings results on Tuesday, May 5th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.06). The firm had revenue of $8.50 billion for the quarter, compared to the consensus estimate of $8.48 billion. Coupang had a negative return on equity of 3.67% and a negative net margin of 0.47%.Coupang’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.06 EPS. As a group, equities research analysts forecast that Coupang, Inc. will post -0.33 EPS for the current fiscal year.

Analysts Set New Price Targets

CPNG has been the topic of several analyst reports. The Goldman Sachs Group set a $31.00 price target on shares of Coupang in a research note on Thursday, July 9th. Deutsche Bank Aktiengesellschaft downgraded Coupang from a “buy” rating to a “hold” rating and set a $23.00 price objective for the company. in a research report on Wednesday, May 6th. Weiss Ratings cut Coupang from a “sell (d+)” rating to a “sell (d)” rating in a research report on Thursday, May 7th. Citigroup cut Coupang from a “buy” rating to a “neutral” rating and lowered their target price for the company from $23.00 to $22.20 in a research report on Wednesday, May 6th. Finally, CLSA assumed coverage on Coupang in a research note on Monday, June 15th. They set an “outperform” rating and a $24.00 target price on the stock. Five research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target 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.