Coupang (NYSE:CPNG) Cut to Hold at Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft cut shares of Coupang (NYSE:CPNG) from a buy rating to a hold rating in a research report released on Wednesday, MarketBeat reports. Deutsche Bank Aktiengesellschaft currently has $23.00 price objective on the stock.

Several other brokerages have also recently commented on CPNG. Barclays increased their target price on shares of Coupang from $24.00 to $30.00 and gave the stock an “overweight” rating in a report on Thursday, April 23rd. Wall Street Zen downgraded shares of Coupang from a “hold” rating to a “strong sell” rating in a research note on Saturday, March 14th. Citigroup cut Coupang from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $23.00 to $22.20 in a report on Wednesday. UBS Group set a $25.00 target price on Coupang in a research report on Thursday, February 19th. Finally, Sanford C. Bernstein reissued an “underperform” rating on shares of Coupang in a research report on Monday, March 2nd. Four research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $26.92.

Coupang Trading Down 1.2%

NYSE CPNG opened at $17.01 on Wednesday. Coupang has a 52 week low of $16.74 and a 52 week high of $34.08. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.79 and a current ratio of 0.97. The stock’s 50 day moving average price is $19.54 and its two-hundred day moving average price is $22.62. The stock has a market capitalization of $31.10 billion, a price-to-earnings ratio of -188.98 and a beta of 1.20.

Coupang (NYSE:CPNG) last issued its quarterly 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 period in the prior year, the business earned $0.06 earnings per share. Coupang’s revenue was up 7.5% compared to the same quarter last year. As a group, analysts anticipate that Coupang will post -0.18 earnings per share for the current fiscal year.

Insider Transactions at Coupang

In other news, Director Neil Mehta purchased 2,332,863 shares of the business’s stock in a transaction on Friday, March 13th. The stock was purchased at an average price of $18.40 per share, for a total transaction of $42,924,679.20. Following the completion of the purchase, the director directly owned 55,310,977 shares in the company, valued at $1,017,721,976.80. The trade was a 4.40% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have acquired 7,350,104 shares of company stock worth $136,566,051 over the last 90 days. Corporate insiders own 12.78% of the company’s stock.

Institutional Investors Weigh In On Coupang

A number of institutional investors and hedge funds have recently modified their holdings of CPNG. Dodge & Cox lifted its stake 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 purchasing an additional 2,285,600 shares during the last quarter. Capital International Investors raised its stake in Coupang by 20.4% in the fourth quarter. Capital International Investors now owns 41,131,036 shares of the company’s stock valued at $970,340,000 after buying an additional 6,977,942 shares during the period. Vanguard Group Inc. raised its stake 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 buying an additional 951,812 shares during the period. Tiger Global Management LLC lifted its position in shares of Coupang by 65.9% in the fourth quarter. Tiger Global Management LLC now owns 26,267,259 shares of the company’s stock valued at $619,645,000 after buying an additional 10,429,680 shares during the last quarter. Finally, Durable Capital Partners LP lifted its position in shares of 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 buying an additional 89,207 shares during the last quarter. 83.72% of the stock is owned by institutional investors.

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.