Sumitomo Mitsui Trust Group Inc. Has $4.76 Million Stock Holdings in Coupang, Inc. $CPNG

Sumitomo Mitsui Trust Group Inc. decreased its position in Coupang, Inc. (NYSE:CPNG) by 38.0% during the 1st quarter, HoldingsChannel reports. The fund owned 252,366 shares of the company’s stock after selling 154,555 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Coupang were worth $4,765,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. grew its position in Coupang by 3.3% in the fourth 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 in the last quarter. Ethic Inc. increased its stake in Coupang by 383.2% in the 4th quarter. Ethic Inc. now owns 126,154 shares of the company’s stock valued at $2,976,000 after buying an additional 100,047 shares during the last quarter. Bank of Nova Scotia lifted its position in Coupang by 333.6% during the 3rd quarter. Bank of Nova Scotia now owns 879,000 shares of the company’s stock worth $28,304,000 after buying an additional 676,300 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Coupang by 7.5% during the 4th quarter. Geode Capital Management LLC now owns 24,327,724 shares of the company’s stock worth $574,068,000 after buying an additional 1,689,293 shares during the last quarter. Finally, SG Americas Securities LLC grew its holdings in shares of Coupang by 10,004.5% in the 4th quarter. SG Americas Securities LLC now owns 988,722 shares of the company’s stock valued at $23,324,000 after acquiring an additional 978,937 shares in the last quarter. 83.72% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. The Goldman Sachs Group set a $31.00 target price on Coupang in a report on Thursday, July 9th. Deutsche Bank Aktiengesellschaft downgraded Coupang from a “buy” rating to a “hold” rating and set a $23.00 price target for the company. in a report on Wednesday, May 6th. Barclays reissued an “overweight” rating and issued a $29.00 price objective on shares of Coupang in a research report on Tuesday, July 7th. Weiss Ratings downgraded shares of Coupang from a “sell (d+)” rating to a “sell (d)” rating in a report on Thursday, May 7th. Finally, CLSA started coverage on shares of Coupang in a report on Monday, June 15th. They issued an “outperform” rating and a $24.00 price target on the stock. Five analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $26.02.

Coupang Trading Down 1.0%

CPNG opened at $17.74 on Wednesday. Coupang, Inc. has a twelve month low of $14.92 and a twelve month high of $34.08. The company has a 50-day simple moving average of $17.04 and a 200 day simple moving average of $18.96. The company has a quick ratio of 0.76, a current ratio of 0.97 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $31.85 billion, a price-to-earnings ratio of -197.11 and a beta of 1.11.

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

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.