Coupang, Inc. $CPNG Shares Sold by First Trust Advisors LP

First Trust Advisors LP trimmed its holdings in shares of Coupang, Inc. (NYSE:CPNG) by 50.2% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 440,062 shares of the company’s stock after selling 443,986 shares during the period. First Trust Advisors LP’s holdings in Coupang were worth $8,308,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. IVY Lane Capital Management LLC purchased a new stake in shares of Coupang in the first quarter valued at approximately $1,510,000. Dimensional Fund Advisors LP raised its position in Coupang by 20.1% in the first quarter. Dimensional Fund Advisors LP now owns 4,366,766 shares of the company’s stock worth $82,404,000 after acquiring an additional 732,300 shares in the last quarter. Main Street Group LTD acquired a new stake in Coupang in the first quarter valued at $40,000. Angeles Wealth Management LLC lifted its holdings in Coupang by 2.5% in the first quarter. Angeles Wealth Management LLC now owns 64,037 shares of the company’s stock valued at $1,209,000 after acquiring an additional 1,585 shares during the period. Finally, Allspring Global Investments Holdings LLC purchased a new stake in shares of Coupang during the 1st quarter worth $9,774,000. 83.72% of the stock is owned by institutional investors and hedge funds.

Coupang Stock Up 2.0%

CPNG opened at $16.41 on Friday. 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 company has a market cap of $29.45 billion, a price-to-earnings ratio of -182.29 and a beta of 1.11. Coupang, Inc. has a one year low of $14.92 and a one year high of $34.08. The business’s fifty day moving average is $16.99 and its two-hundred day moving average is $18.33.

Coupang (NYSE:CPNG) last announced its quarterly 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). The firm had revenue of $8.50 billion during the quarter, compared to analysts’ expectations of $8.48 billion. Coupang had a negative net margin of 0.47% and a negative return on equity of 3.67%. The company’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.06 EPS. Analysts anticipate that Coupang, Inc. will post -0.33 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

CPNG has been the topic of a number of recent analyst reports. 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 target on the stock. Bank of America reduced their price objective on shares of Coupang from $28.00 to $27.00 and set a “buy” rating for the company in a research note on Wednesday, June 24th. The Goldman Sachs Group set a $31.00 price objective on shares of Coupang in a report on Thursday, July 9th. Deutsche Bank Aktiengesellschaft lowered shares of Coupang from a “buy” rating to a “hold” rating and set a $23.00 target price on the stock. in a research report on Wednesday, May 6th. Finally, Barclays reaffirmed an “overweight” rating and issued a $29.00 target price on shares of Coupang in a report on Tuesday, July 7th. Five research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $25.93.

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.