Coupang (NYSE:CPNG) Stock Rating Lowered by Wall Street Zen

Coupang (NYSE:CPNG) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued on Sunday.

Several other brokerages also recently issued reports on CPNG. Mizuho upgraded shares of Coupang to a “hold” rating in a report on Friday, April 18th. Barclays boosted their price objective on Coupang from $35.00 to $36.00 and gave the stock an “overweight” rating in a research report on Thursday, May 8th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Coupang has a consensus rating of “Moderate Buy” and an average target price of $30.08.

Coupang Trading Up 3.6%

CPNG opened at $30.90 on Friday. The company has a market cap of $56.09 billion, a P/E ratio of 220.68 and a beta of 1.15. The company has a current ratio of 1.16, a quick ratio of 0.90 and a debt-to-equity ratio of 0.23. The company’s 50 day moving average is $26.77 and its 200-day moving average is $24.20. Coupang has a 1-year low of $18.16 and a 1-year high of $30.91.

Coupang (NYSE:CPNG) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.01). Coupang had a net margin of 0.82% and a return on equity of 10.07%. The company had revenue of $7.91 billion during the quarter, compared to the consensus estimate of $8.02 billion. Coupang’s revenue for the quarter was up 11.2% on a year-over-year basis. Equities research analysts predict that Coupang will post 0.17 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, VP Pranam Kolari sold 9,347 shares of the stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $23.85, for a total value of $222,925.95. Following the completion of the sale, the vice president now directly owns 177,106 shares in the company, valued at $4,223,978.10. This represents a 5.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Svf Investments (Uk) Ltd sold 10,000,000 shares of the firm’s stock in a transaction on Friday, June 13th. The stock was sold at an average price of $28.25, for a total value of $282,500,000.00. Following the transaction, the insider now directly owns 309,542,259 shares of the company’s stock, valued at approximately $8,744,568,816.75. This represents a 3.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 40,459,697 shares of company stock valued at $1,067,780,811 in the last ninety days. 12.78% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Coupang

A number of institutional investors have recently made changes to their positions in the stock. Dodge & Cox raised its position in shares of Coupang by 101.6% during the first quarter. Dodge & Cox now owns 40,784,920 shares of the company’s stock worth $894,413,000 after acquiring an additional 20,555,600 shares during the last quarter. Norges Bank acquired a new stake in Coupang during the 4th quarter valued at approximately $404,896,000. Price T Rowe Associates Inc. MD raised its holdings in Coupang by 29.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 75,686,648 shares of the company’s stock worth $1,663,594,000 after purchasing an additional 17,123,637 shares during the last quarter. GQG Partners LLC acquired a new position in shares of Coupang in the 1st quarter worth approximately $168,127,000. Finally, Massachusetts Financial Services Co. MA lifted its position in shares of Coupang by 436.6% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 8,686,580 shares of the company’s stock worth $190,497,000 after purchasing an additional 7,067,830 shares during the period. Institutional investors own 83.72% of the company’s stock.

Coupang Company Profile

Coupang, Inc, together with its subsidiaries owns and operates retail business through its mobile applications and Internet websites primarily in South Korea. The company operates through Product Commerce and Developing Offerings segments. It sells various products and services in the categories of home goods and décor products, apparel, beauty products, fresh food and groceries, sporting goods, electronics, and everyday consumables, as well as travel, and restaurant order and delivery services.