Coupang (NYSE:CPNG) Hits New 52-Week Low – Should You Sell?

by · The Markets Daily

Coupang, Inc. (NYSE:CPNG – Get Free Report) reached a new 52-week low on Tuesday . The stock traded as low as $14.88 and last traded at $15.02, with a volume of 1481044 shares. The stock had previously closed at $15.29.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on CPNG. Bank of America reduced their target price on Coupang from $27.00 to $24.00 and set a “buy” rating for the company in a report on Wednesday, August 5th. The Goldman Sachs Group set a $31.00 price target on Coupang in a research report on Thursday, July 9th. Mizuho set a $22.00 price objective on Coupang in a research report on Wednesday, August 5th. CLSA initiated coverage on Coupang in a research note on Monday, June 15th. They set an “outperform” rating and a $24.00 target price on the stock. Finally, Deutsche Bank Aktiengesellschaft upgraded Coupang from a “hold” rating to a “buy” rating and dropped their target price for the company from $23.00 to $21.50 in a report on Wednesday, August 5th. Six research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Coupang currently has an average rating of “Hold” and a consensus price target of $25.39.

View Our Latest Analysis on CPNG

Coupang Stock Down 2.4%

The business has a fifty day moving average of $16.65 and a 200 day moving average of $17.71. The stock has a market cap of $26.84 billion, a price-to-earnings ratio of -34.69 and a beta of 1.15. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.87 and a quick ratio of 0.68.

Coupang (NYSE:CPNG – Get Free Report) last posted its earnings results on Tuesday, August 4th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.18. The firm had revenue of $8.86 billion during the quarter, compared to analysts’ expectations of $8.92 billion. Coupang had a negative net margin of 2.16% and a negative return on equity of 8.77%. The company’s revenue was up 3.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.02 earnings per share. On average, equities analysts predict that Coupang, Inc. will post -0.46 earnings per share for the current year.

Insider Buying and Selling at Coupang

In related news, insider Harold Rogers sold 192,110 shares of Coupang stock in a transaction on Monday, August 10th. The shares were sold at an average price of $16.18, for a total value of $3,108,339.80. Following the completion of the sale, the insider owned 740,931 shares of the company’s stock, valued at approximately $11,988,263.58. The trade was a 20.59% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Jonathan D. Lee sold 5,519 shares of the stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $16.10, for a total value of $88,855.90. Following the transaction, the chief accounting officer directly owned 181,915 shares in the company, valued at approximately $2,928,831.50. This represents a 2.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 12.83% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of CPNG. Dodge & Cox raised its holdings in Coupang by 4.9% in the 4th quarter. Dodge & Cox now owns 49,233,320 shares of the company’s stock worth $1,161,414,000 after acquiring an additional 2,285,600 shares during the period. Capital International Investors boosted its holdings in Coupang by 20.4% during the fourth quarter. Capital International Investors now owns 41,131,036 shares of the company’s stock valued at $970,340,000 after acquiring an additional 6,977,942 shares during the period. Tiger Global Management LLC boosted its holdings in Coupang by 31.7% during the first quarter. Tiger Global Management LLC now owns 34,595,407 shares of the company’s stock valued at $653,161,000 after acquiring an additional 8,328,148 shares during the period. Durable Capital Partners LP grew 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 purchasing an additional 89,207 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Coupang by 7.5% in the fourth quarter. Geode Capital Management LLC now owns 24,327,724 shares of the company’s stock worth $574,068,000 after purchasing an additional 1,689,293 shares during the period. 83.72% of the stock is currently owned by institutional investors and hedge funds.

Coupang Company Profile

(Get Free Report)

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.

Read More