Coupang (NYSE:CPNG) Stock Rating Lowered by Deutsche Bank Aktiengesellschaft

Key Points

• Deutsche Bank has downgraded Coupang's stock rating from "buy" to "hold" with a target price of $27, indicating a potential downside of 9.64% from its previous close.
• Coupang's Q2 earnings report showed earnings per share of $0.02, missing the expected $0.07, despite reaching revenues of $8.52 billion which exceeded analyst estimates.
• Insider selling has been significant, with over 40 million shares sold in the last ninety days, reflecting a 6.84% decrease in ownership for a vice president and a 13.16% decrease for a director.

Coupang (NYSE:CPNG - Get Free Report) was downgraded by investment analysts at Deutsche Bank Aktiengesellschaft from a "buy" rating to a "hold" rating in a note issued to investors on Wednesday, MarketBeat.com reports. They presently have a $27.00 target price on the stock. Deutsche Bank Aktiengesellschaft's price objective suggests a potential downside of 9.64% from the stock's previous close.

Several other brokerages have also commented on CPNG. Mizuho upgraded shares of Coupang to a "hold" rating in a research note on Friday, April 18th. Wall Street Zen lowered Coupang from a "buy" rating to a "hold" rating in a report on Sunday, July 20th. Finally, Barclays lifted their target price on Coupang from $35.00 to $36.00 and gave the company an "overweight" rating in a research note on Thursday, May 8th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $30.57.

Coupang Stock Performance

Shares of CPNG stock opened at $29.88 on Wednesday. The stock has a market capitalization of $54.25 billion, a price-to-earnings ratio of 213.43 and a beta of 1.16. The company's 50-day simple moving average is $29.46 and its 200-day simple moving average is $25.64. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.90 and a current ratio of 1.16. Coupang has a one year low of $19.02 and a one year high of $31.65.

Coupang (NYSE:CPNG - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.05). Coupang had a net margin of 0.82% and a return on equity of 10.07%. The firm had revenue of $8.52 billion for the quarter, compared to analyst estimates of $8.34 billion. During the same period last year, the firm posted $0.07 EPS. The business's revenue was up 16.4% compared to the same quarter last year. Equities analysts anticipate that Coupang will post 0.17 earnings per share for the current fiscal year.

Insider Buying and Selling at Coupang

In other Coupang news, VP Pranam Kolari sold 11,653 shares of the business's stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $29.14, for a total value of $339,568.42. Following the completion of the sale, the vice president owned 158,676 shares of the company's stock, valued at $4,623,818.64. The trade was a 6.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Benjamin Sun sold 200,000 shares of the company's stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $28.36, for a total value of $5,672,000.00. Following the sale, the director owned 1,319,421 shares of the company's stock, valued at approximately $37,418,779.56. This trade represents a 13.16% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 40,462,003 shares of company stock worth $1,067,897,453 in the last ninety days. Company insiders own 12.78% of the company's stock.

Institutional Investors Weigh In On Coupang

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD lifted its stake in shares of Coupang by 29.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 75,686,648 shares of the company's stock worth $1,663,594,000 after buying an additional 17,123,637 shares during the last quarter. Dodge & Cox lifted its position in Coupang by 101.6% during the 1st 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. FMR LLC grew its position in shares of Coupang by 9.1% in the fourth quarter. FMR LLC now owns 29,619,581 shares of the company's stock valued at $651,038,000 after purchasing an additional 2,465,973 shares during the last quarter. Durable Capital Partners LP increased its stake in shares of Coupang by 13.6% in the fourth quarter. Durable Capital Partners LP now owns 28,636,287 shares of the company's stock worth $629,426,000 after purchasing an additional 3,420,133 shares during the period. Finally, Dragoneer Investment Group LLC lifted its position in shares of Coupang by 9.0% during the 4th quarter. Dragoneer Investment Group LLC now owns 20,541,277 shares of the company's stock worth $451,497,000 after purchasing an additional 1,690,826 shares during the last quarter. 83.72% of the stock is currently owned by institutional investors and hedge funds.

About Coupang

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.