Allspring Global Investments Holdings LLC Invests $9.77 Million in Coupang, Inc. $CPNG

Allspring Global Investments Holdings LLC acquired a new stake in shares of Coupang, Inc. (NYSE:CPNG) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 516,574 shares of the company’s stock, valued at approximately $9,774,000.

Other hedge funds also recently made changes to their positions in the company. Sunbelt Securities Inc. bought a new position in Coupang in the third quarter valued at $26,000. Reflection Asset Management bought a new stake in Coupang in the 4th quarter worth approximately $28,000. Webster Bank N. A. lifted its position in Coupang by 325.8% in the 1st quarter. Webster Bank N. A. now owns 1,699 shares of the company’s stock worth $32,000 after buying an additional 1,300 shares during the last quarter. Aster Capital Management DIFC Ltd purchased a new stake in Coupang in the fourth quarter worth approximately $42,000. Finally, Root Financial Partners LLC boosted its stake in Coupang by 68.5% in the first quarter. Root Financial Partners LLC now owns 2,265 shares of the company’s stock worth $43,000 after buying an additional 921 shares in the last quarter. 83.72% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on CPNG. Deutsche Bank Aktiengesellschaft downgraded shares of Coupang from a “buy” rating to a “hold” rating and set a $23.00 price target on the stock. in a research note on Wednesday, May 6th. CLSA initiated coverage on shares of Coupang in a research note on Monday, June 15th. They issued an “outperform” rating and a $24.00 price objective for the company. Citigroup lowered shares of 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 report on Wednesday, May 6th. Weiss Ratings cut shares of Coupang from a “sell (d+)” rating to a “sell (d)” rating in a research report on Thursday, May 7th. Finally, Bank of America lowered their price target on shares of Coupang from $28.00 to $27.00 and set a “buy” rating for the company in a research note on Wednesday, June 24th. Five analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $26.02.

Coupang Trading Down 0.2%

CPNG opened at $15.72 on Thursday. The business has a 50 day simple moving average of $17.01 and a two-hundred day simple moving average of $18.65. The firm has a market capitalization of $28.23 billion, a price-to-earnings ratio of -174.70 and a beta of 1.11. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.97 and a quick ratio of 0.76. Coupang, Inc. has a one year low of $14.92 and a one year high of $34.08.

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