Coupang, Inc. $CPNG Position Increased by Geode Capital Management LLC

Key Points

• Geode Capital Management increased its Coupang stake by 7.5% in the fourth quarter, adding 1.69 million shares and bringing its total holding to 24.3 million shares worth about $574 million.
• Coupang reported quarterly earnings of -$0.15 per share, missing analyst estimates, though revenue of $8.50 billion slightly beat expectations and rose 7.5% year over year.
• Analysts remain cautious on the stock: several firms cut price targets recently, and the overall consensus rating is Hold with a consensus target price of $26.92.

Geode Capital Management LLC raised its holdings in shares of Coupang, Inc. (NYSE:CPNG - Free Report) by 7.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,327,724 shares of the company's stock after acquiring an additional 1,689,293 shares during the period. Geode Capital Management LLC owned approximately 1.33% of Coupang worth $574,068,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in CPNG. EverSource Wealth Advisors LLC raised its stake in Coupang by 72.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,316 shares of the company's stock valued at $99,000 after acquiring an additional 1,395 shares in the last quarter. Baird Financial Group Inc. raised its stake in Coupang by 52.8% during the 2nd quarter. Baird Financial Group Inc. now owns 23,471 shares of the company's stock valued at $703,000 after acquiring an additional 8,107 shares in the last quarter. Cerity Partners LLC raised its stake in Coupang by 48.1% during the 2nd quarter. Cerity Partners LLC now owns 45,252 shares of the company's stock valued at $1,356,000 after acquiring an additional 14,703 shares in the last quarter. State Street Corp raised its stake in Coupang by 8.4% during the 2nd quarter. State Street Corp now owns 15,641,775 shares of the company's stock valued at $468,628,000 after acquiring an additional 1,210,801 shares in the last quarter. Finally, AXA S.A. bought a new stake in Coupang during the 2nd quarter valued at $411,000. Institutional investors own 83.72% of the company's stock.

Coupang Trading Up 2.5%

Shares of Coupang stock opened at $16.61 on Friday. The company has a quick ratio of 0.76, a current ratio of 0.97 and a debt-to-equity ratio of 0.16. The firm has a market cap of $29.81 billion, a price-to-earnings ratio of -184.51 and a beta of 1.20. The business has a fifty day simple moving average of $18.53 and a 200-day simple moving average of $20.99. Coupang, Inc. has a fifty-two week low of $15.03 and a fifty-two week high of $34.08.

Coupang (NYSE:CPNG - Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.06). The firm had revenue of $8.50 billion during the quarter, compared to analyst estimates of $8.48 billion. Coupang had a negative net margin of 0.47% and a negative return on equity of 3.67%. The company's quarterly revenue was up 7.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.06 EPS. On average, equities analysts forecast that Coupang, Inc. will post -0.17 EPS for the current fiscal year.

Analyst Ratings Changes

CPNG has been the topic of several recent analyst reports. Mizuho cut their target price on Coupang from $32.00 to $25.00 and set a "neutral" rating on the stock in a research note on Friday, February 27th. Nomura cut their target price on Coupang from $22.00 to $20.00 and set a "neutral" rating on the stock in a research note on Monday, March 2nd. UBS Group set a $25.00 target price on Coupang in a research note on Thursday, February 19th. Wall Street Zen downgraded Coupang from a "hold" rating to a "strong sell" rating in a research note on Saturday, March 14th. Finally, Citigroup downgraded Coupang from a "buy" rating to a "neutral" rating and cut their target price for the company from $23.00 to $22.20 in a research note on Wednesday, May 6th. Four analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Coupang has a consensus rating of "Hold" and a consensus target price of $26.92.

Insider Buying and Selling at Coupang

In other news, Director Neil Mehta acquired 2,332,863 shares of the business's stock in a transaction dated Friday, March 13th. The stock was acquired at an average price of $18.40 per share, for a total transaction of $42,924,679.20. Following the completion of the acquisition, the director directly owned 55,310,977 shares in the company, valued at $1,017,721,976.80. This represents a 4.40% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Insiders acquired a total of 7,350,104 shares of company stock valued at $136,566,051 in the last ninety days. Corporate insiders own 12.78% of the company's stock.

About Coupang

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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