Coupang, Inc. $CPNG Shares Sold by First Trust Advisors LP

Key Points

• First Trust Advisors LP cut its Coupang stake by 50.2% in the first quarter, selling 443,986 shares and retaining 440,062 shares valued at approximately $8.3 million. Institutional investors collectively own 83.72% of Coupang.
• Analyst sentiment is mixed: the stock has a consensus rating of “Hold” and an average price target of $25.93, with targets ranging from $23 to $31.
• Coupang reported quarterly revenue of $8.50 billion, up 7.5% year over year, but missed earnings expectations with a loss of $0.15 per share versus the estimated $0.09 loss. Shares opened at $16.41, near the lower end of their 12-month range.

First Trust Advisors LP lowered its position in shares of Coupang, Inc. (NYSE:CPNG - Free Report) by 50.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 440,062 shares of the company's stock after selling 443,986 shares during the period. First Trust Advisors LP's holdings in Coupang were worth $8,308,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in CPNG. Sunbelt Securities Inc. acquired a new stake in shares of Coupang in the 3rd quarter valued at about $26,000. Reflection Asset Management acquired a new position in Coupang during the fourth quarter worth approximately $28,000. Webster Bank N. A. increased its position in Coupang by 325.8% during the first 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 period. Main Street Group LTD purchased a new stake in Coupang in the first quarter valued at approximately $40,000. Finally, Aster Capital Management DIFC Ltd purchased a new stake in Coupang in the fourth quarter valued at approximately $42,000. Institutional investors and hedge funds own 83.72% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on CPNG shares. Bank of America lowered their target price on shares of Coupang from $28.00 to $27.00 and set a "buy" rating on the stock in a research report on Wednesday, June 24th. The Goldman Sachs Group set a $31.00 price target on shares of Coupang in a research report on Thursday, July 9th. Barclays reiterated an "overweight" rating and set a $29.00 price target on shares of Coupang in a research note on Tuesday, July 7th. CLSA assumed coverage on shares of Coupang in a research report on Monday, June 15th. They set an "outperform" rating and a $24.00 price objective on the stock. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Coupang from a "buy" rating to a "hold" rating and set a $23.00 price objective on the stock. in a research note on Wednesday, May 6th. Five research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $25.93.

Coupang Trading Up 2.0%

Shares of CPNG stock opened at $16.41 on Friday. The company has a market capitalization of $29.45 billion, a P/E ratio of -182.29 and a beta of 1.11. The company has a current ratio of 0.97, a quick ratio of 0.76 and a debt-to-equity ratio of 0.16. The business's 50 day moving average is $16.99 and its two-hundred day moving average is $18.33. Coupang, Inc. has a twelve month low of $14.92 and a twelve month high of $34.08.

Coupang (NYSE:CPNG - Get Free Report) last issued its quarterly earnings results 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 company had revenue of $8.50 billion for the quarter, compared to analyst estimates of $8.48 billion. Coupang had a negative return on equity of 3.67% and a negative net margin of 0.47%.Coupang's revenue for the quarter was up 7.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.06 earnings per share. Equities analysts forecast that Coupang, Inc. will post -0.33 EPS for the current year.

Coupang Company 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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