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

Key Points

• Allspring Global Investments disclosed a new position in Coupang during the first quarter, buying 516,574 shares valued at about $9.77 million.
• Institutional ownership in Coupang remains heavy, with 83.72% of the stock held by institutional investors, and several other funds also recently added small stakes.
• Analysts are mixed on the stock: the consensus rating is Hold with an average price target of $26.02, while Coupang most recently reported earnings that missed EPS estimates even as revenue grew 7.5% year over year.

Allspring Global Investments Holdings LLC acquired a new stake in shares of Coupang, Inc. (NYSE:CPNG - Free Report) 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 - Get Free Report) 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.

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