USS Investment Management Ltd Buys 1,447,542 Shares of Coupang, Inc. $CPNG

USS Investment Management Ltd increased its stake in Coupang, Inc. (NYSE:CPNG) by 650.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,670,083 shares of the company’s stock after purchasing an additional 1,447,542 shares during the period. USS Investment Management Ltd owned 0.09% of Coupang worth $31,506,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

CPNG has been the subject of a number of research reports. Weiss Ratings lowered Coupang from a “sell (d+)” rating to a “sell (d)” rating in a research report on Thursday, May 7th. Barclays upped their target price on shares of Coupang from $24.00 to $30.00 and gave the company an “overweight” rating in a research report on Thursday, April 23rd. CLSA initiated coverage on shares of Coupang in a research note on Monday, June 15th. They issued an “outperform” rating and a $24.00 target price on the stock. Deutsche Bank Aktiengesellschaft cut shares of Coupang from a “buy” rating to a “hold” rating and set a $23.00 price target for the company. in a research report on Wednesday, May 6th. Finally, Citigroup downgraded shares of Coupang from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $23.00 to $22.20 in a research note on Wednesday, May 6th. Five research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Coupang currently has an average rating of “Hold” and an average target price of $25.65.

Coupang Price Performance

CPNG opened at $17.42 on Wednesday. The stock has a market cap of $31.26 billion, a P/E ratio of -193.49 and a beta of 1.12. Coupang, Inc. has a 12 month low of $14.92 and a 12 month high of $34.08. 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 company has a fifty day simple moving average of $17.44 and a 200 day simple moving average of $19.31.

Coupang (NYSE:CPNG) last posted its earnings results on Tuesday, May 5th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $8.50 billion for the quarter, compared to the consensus estimate of $8.48 billion. During the same quarter in the prior year, the firm posted $0.06 earnings per share. The business’s revenue was up 7.5% on a year-over-year basis. On average, research analysts expect that Coupang, Inc. will post -0.25 EPS for the current year.

Coupang Company 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.