Coupang, Inc. $CPNG Shares Sold by Arrowstreet Capital Limited Partnership

Key Points

• Arrowstreet Capital cut its Coupang stake by 13.8% in the first quarter, selling 743,764 shares and retaining 4.63 million shares worth approximately $87.4 million. Institutional investors and hedge funds collectively own 83.72% of Coupang.
• Coupang reported quarterly revenue of $8.50 billion, up 7.5% year over year and slightly above expectations, but its loss of $0.15 per share exceeded the expected $0.09 loss.
• CPNG opened at $15.52, near its 12-month low, while analysts maintained a mixed outlook: the stock carries an average “Hold” rating and a consensus price target of $26.02.

Arrowstreet Capital Limited Partnership lessened its holdings in shares of Coupang, Inc. (NYSE:CPNG - Free Report) by 13.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,630,410 shares of the company's stock after selling 743,764 shares during the period. Arrowstreet Capital Limited Partnership owned approximately 0.25% of Coupang worth $87,422,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Sunbelt Securities Inc. purchased a new stake in Coupang in the third quarter valued at about $26,000. Reflection Asset Management purchased a new stake in shares of Coupang during the fourth quarter worth about $28,000. LGT Financial Advisors LLC purchased a new stake in shares of Coupang during the third quarter worth about $52,000. Webster Bank N. A. increased its holdings in shares of Coupang by 325.8% during the first quarter. Webster Bank N. A. now owns 1,699 shares of the company's stock valued at $32,000 after acquiring an additional 1,300 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd acquired a new position in shares of Coupang during the fourth quarter valued at about $42,000. Institutional investors and hedge funds own 83.72% of the company's stock.

Coupang Stock Up 0.1%

CPNG stock opened at $15.52 on Monday. The company has a market capitalization of $27.85 billion, a P/E ratio of -172.38 and a beta of 1.11. Coupang, Inc. has a 12 month low of $14.92 and a 12 month high of $34.08. The firm's fifty day simple moving average is $16.98 and its 200-day simple moving average is $18.55. 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 (NYSE:CPNG - Get Free Report) last issued its earnings results on Tuesday, May 5th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.06). Coupang had a negative return on equity of 3.67% and a negative net margin of 0.47%.The business had revenue of $8.50 billion for the quarter, compared to analysts' expectations of $8.48 billion. During the same period last year, the business earned $0.06 EPS. The company's revenue for the quarter was up 7.5% on a year-over-year basis. As a group, equities research analysts forecast that Coupang, Inc. will post -0.33 earnings per share for the current year.

Analyst Ratings Changes

CPNG has been the subject of a number of recent analyst reports. Barclays reiterated an "overweight" rating and issued a $29.00 target price on shares of Coupang in a research note on Tuesday, July 7th. Weiss Ratings lowered shares of Coupang from a "sell (d+)" rating to a "sell (d)" rating in a research note on Thursday, May 7th. Bank of America decreased their price target on shares of Coupang from $28.00 to $27.00 and set a "buy" rating for the company in a report on Wednesday, June 24th. CLSA initiated coverage on shares of Coupang in a research note on Monday, June 15th. They set an "outperform" rating and a $24.00 price objective for the company. Finally, The Goldman Sachs Group set a $31.00 price objective on shares of Coupang in a report on Thursday, July 9th. Five investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $26.02.

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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