Hsbc Holdings PLC Has $20.61 Million Holdings in Coupang, Inc. $CPNG

Hsbc Holdings PLC cut its stake in Coupang, Inc. (NYSE:CPNG) by 26.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,092,896 shares of the company’s stock after selling 389,316 shares during the period. Hsbc Holdings PLC’s holdings in Coupang were worth $20,611,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in Coupang by 3.3% during the fourth quarter. Vanguard Group Inc. now owns 29,547,637 shares of the company’s stock worth $697,029,000 after buying an additional 951,812 shares in the last quarter. Ethic Inc. increased its stake in Coupang by 383.2% during the fourth quarter. Ethic Inc. now owns 126,154 shares of the company’s stock valued at $2,976,000 after acquiring an additional 100,047 shares during the period. Geode Capital Management LLC raised its holdings in Coupang by 7.5% in the 4th quarter. Geode Capital Management LLC now owns 24,327,724 shares of the company’s stock valued at $574,068,000 after acquiring an additional 1,689,293 shares in the last quarter. SG Americas Securities LLC lifted its position 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 worth $23,324,000 after acquiring an additional 978,937 shares during the period. Finally, M&T Bank Corp lifted its position in shares of Coupang by 22.7% in the 4th quarter. M&T Bank Corp now owns 318,971 shares of the company’s stock worth $7,525,000 after acquiring an additional 59,013 shares during the period. 83.72% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on CPNG shares. Citigroup lowered Coupang from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $23.00 to $22.20 in a report on Wednesday, May 6th. Barclays restated an “overweight” rating and issued a $29.00 target price on shares of Coupang in a research note on Tuesday, July 7th. The Goldman Sachs Group set a $31.00 price target on shares of Coupang in a research note on Thursday, July 9th. Weiss Ratings downgraded shares of Coupang from a “sell (d+)” rating to a “sell (d)” rating in a research note on Thursday, May 7th. Finally, CLSA began 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 issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $26.02.

Coupang Stock Down 4.5%

Shares of CPNG opened at $15.70 on Wednesday. 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 50-day moving average price of $17.02 and a two-hundred day moving average price of $18.71. The stock has a market cap of $28.17 billion, a price-to-earnings ratio of -174.37 and a beta of 1.11. Coupang, Inc. has a 12 month low of $14.92 and a 12 month high of $34.08.

Coupang (NYSE:CPNG) last released its quarterly earnings data 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 net margin of 0.47% and a negative return on equity of 3.67%. The company had revenue of $8.50 billion during the quarter, compared to the consensus estimate of $8.48 billion. During the same quarter in the prior year, the company posted $0.06 earnings per share. The company’s revenue for the quarter was up 7.5% on a year-over-year basis. Equities 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.