Wall Street Zen Downgrades Coupang (NYSE:CPNG) to Hold

Wall Street Zen lowered shares of Coupang (NYSE:CPNG - Free Report) from a buy rating to a hold rating in a report released on Sunday morning.

CPNG has been the subject of several other reports. Barclays raised their price objective on Coupang from $35.00 to $36.00 and gave the stock an "overweight" rating in a research note on Thursday, May 8th. Mizuho raised shares of Coupang to a "hold" rating in a research report on Friday, April 18th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $30.08.

Coupang Stock Performance

CPNG stock traded down $0.01 during trading on Friday, reaching $29.93. The company had a trading volume of 7,707,367 shares, compared to its average volume of 8,243,931. The company has a market cap of $54.33 billion, a price-to-earnings ratio of 213.79 and a beta of 1.16. Coupang has a twelve month low of $18.16 and a twelve month high of $30.91. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.90 and a current ratio of 1.16. The firm has a 50-day simple moving average of $27.11 and a 200-day simple moving average of $24.28.

Coupang (NYSE:CPNG - Get Free Report) last posted 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). The company had revenue of $7.91 billion for the quarter, compared to analyst estimates of $8.02 billion. Coupang had a return on equity of 10.07% and a net margin of 0.82%. The company's quarterly revenue was up 11.2% compared to the same quarter last year. As a group, sell-side analysts expect that Coupang will post 0.17 earnings per share for the current year.

Insiders Place Their Bets

In other Coupang news, Director Benjamin Sun sold 200,000 shares of the business's stock in a transaction that occurred on 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 completion of the transaction, the director directly owned 1,319,421 shares of the company's stock, valued at approximately $37,418,779.56. The trade was a 13.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Gaurav Anand sold 175,000 shares of the firm's stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $28.11, for a total transaction of $4,919,250.00. Following the sale, the chief financial officer directly owned 2,092,290 shares in the company, valued at $58,814,271.90. The trade was a 7.72% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 40,459,697 shares of company stock worth $1,067,780,811. 12.78% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Coupang

Several large investors have recently made changes to their positions in the company. IFP Advisors Inc increased its holdings in Coupang by 3.8% in the fourth quarter. IFP Advisors Inc now owns 12,734 shares of the company's stock valued at $280,000 after buying an additional 469 shares in the last quarter. New York Life Investment Management LLC purchased a new position in shares of Coupang in the 4th quarter valued at about $349,000. Proficio Capital Partners LLC acquired a new position in Coupang in the 4th quarter worth about $854,000. SBI Securities Co. Ltd. acquired a new position in Coupang in the 4th quarter worth about $124,000. Finally, LGT Fund Management Co Ltd. purchased a new position in Coupang during the fourth quarter worth approximately $2,599,000. 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.