Coupang (NYSE:CPNG) Hits New 1-Year Low at $22.76

Coupang, Inc. (NYSE:CPNG) shares hit a new 52-week low during trading on Thursday . The stock traded as low as $22.76 and last traded at $22.90, with a volume of 100257 shares traded. The stock had previously closed at $23.44.

Several brokerages have recently commented on CPNG. Mizuho boosted their target price on Coupang from $32.00 to $40.00 and gave the stock a “neutral” rating in a report on Monday, November 15th. Zacks Investment Research downgraded Coupang from a “hold” rating to a “sell” rating in a report on Friday. Finally, Citigroup dropped their price objective on shares of Coupang from $39.00 to $32.00 and set a “neutral” rating for the company in a research report on Tuesday, October 12th. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $45.00.

The firm’s 50-day simple moving average is $27.37 and its 200 day simple moving average is $31.07. The company has a current ratio of 1.29, a quick ratio of 1.03 and a debt-to-equity ratio of 0.50.

Coupang (NYSE:CPNG) last issued its earnings results on Thursday, November 11th. The company reported ($0.19) EPS for the quarter, missing the consensus estimate of ($0.17) by ($0.02). The business had revenue of $4.64 billion for the quarter, compared to the consensus estimate of $4.84 billion. Coupang had a negative net margin of 7.19% and a negative return on equity of 81.85%. The company’s revenue for the quarter was up 48.1% on a year-over-year basis. On average, equities research analysts forecast that Coupang, Inc. will post -0.77 earnings per share for the current fiscal year.

In other Coupang news, Director Greenoaks Capital Partners Llc acquired 460,000 shares of Coupang stock in a transaction dated Tuesday, November 30th. The stock was bought at an average cost of $26.61 per share, for a total transaction of $12,240,600.00. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CTO Thuan Pham sold 1,189 shares of the firm’s stock in a transaction dated Thursday, January 6th. The shares were sold at an average price of $25.50, for a total transaction of $30,319.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 483,422 shares of company stock valued at $13,250,807.

Several institutional investors and hedge funds have recently made changes to their positions in CPNG. Morgan Stanley increased its holdings in shares of Coupang by 340.0% during the third quarter. Morgan Stanley now owns 68,399,962 shares of the company’s stock worth $1,904,938,000 after purchasing an additional 52,855,644 shares during the period. Duquesne Family Office LLC acquired a new stake in shares of Coupang during the 3rd quarter worth approximately $431,845,000. Fiduciary Trust Co. acquired a new stake in shares of Coupang during the 3rd quarter worth approximately $376,611,000. Baillie Gifford & Co. boosted its position in shares of Coupang by 36.8% during the 3rd quarter. Baillie Gifford & Co. now owns 49,015,455 shares of the company’s stock worth $1,365,081,000 after acquiring an additional 13,172,574 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of Coupang by 17.5% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 39,234,375 shares of the company’s stock worth $1,622,311,000 after acquiring an additional 5,853,516 shares in the last quarter. 70.70% of the stock is currently owned by institutional investors.

Coupang Company Profile (NYSE:CPNG)

Coupang, Inc owns and operates in e-commerce business through its mobile applications and Internet websites primarily in South Korea. 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.

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