Coupang, Inc. $CPNG Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System decreased its position in shares of Coupang, Inc. (NYSE:CPNG) by 26.1% during the 1st quarter, HoldingsChannel reports. The fund owned 1,627,175 shares of the company’s stock after selling 574,626 shares during the quarter. California Public Employees Retirement System’s holdings in Coupang were worth $30,721,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of CPNG. EverSource Wealth Advisors LLC increased its position in Coupang by 72.6% during the second quarter. EverSource Wealth Advisors LLC now owns 3,316 shares of the company’s stock worth $99,000 after purchasing an additional 1,395 shares during the last quarter. Baird Financial Group Inc. boosted its holdings in Coupang by 52.8% in the 2nd quarter. Baird Financial Group Inc. now owns 23,471 shares of the company’s stock valued at $703,000 after purchasing an additional 8,107 shares during the last quarter. Cerity Partners LLC boosted its holdings in Coupang by 48.1% in the 2nd quarter. Cerity Partners LLC now owns 45,252 shares of the company’s stock valued at $1,356,000 after purchasing an additional 14,703 shares during the last quarter. State Street Corp grew its stake in shares of Coupang by 8.4% in the 2nd quarter. State Street Corp now owns 15,641,775 shares of the company’s stock valued at $468,628,000 after buying an additional 1,210,801 shares during the period. Finally, AXA S.A. purchased a new stake in shares of Coupang in the 2nd quarter valued at approximately $411,000. Hedge funds and other institutional investors own 83.72% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft lowered shares of Coupang from a “buy” rating to a “hold” rating and set a $23.00 price target on the stock. in a research report on Wednesday, May 6th. CLSA began coverage on Coupang in a research report on Monday, June 15th. They issued an “outperform” rating and a $24.00 price objective for the company. Barclays reissued an “overweight” rating and set a $29.00 target price on shares of Coupang in a research note on Tuesday, July 7th. Citigroup downgraded Coupang from a “buy” rating to a “neutral” rating and reduced their target price for the company from $23.00 to $22.20 in a research report on Wednesday, May 6th. Finally, Bank of America decreased their price target on Coupang from $28.00 to $27.00 and set a “buy” rating on the stock in a research note on Wednesday, June 24th. Five equities research 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. Based on data from MarketBeat.com, Coupang presently has a consensus rating of “Hold” and a consensus price target of $26.02.

Coupang Stock Performance

Shares of CPNG stock opened at $15.70 on Wednesday. The firm’s 50 day moving average price is $17.02 and its 200-day moving average price is $18.71. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.76 and a current ratio of 0.97. Coupang, Inc. has a one year low of $14.92 and a one year high of $34.08. The firm has a market cap of $28.17 billion, a P/E ratio of -174.37 and a beta of 1.11.

Coupang (NYSE:CPNG) last posted its quarterly earnings data 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). Coupang had a negative return on equity of 3.67% and a negative net margin of 0.47%.The company had revenue of $8.50 billion for the quarter, compared to analysts’ expectations of $8.48 billion. During the same period in the previous year, the business posted $0.06 EPS. The business’s revenue for the quarter was up 7.5% on a year-over-year basis. As a group, equities research analysts predict that Coupang, Inc. will post -0.33 EPS for the current 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.