Public Employees Retirement System of Ohio Has $11.60 Million Stock Holdings in Coupang, Inc. $CPNG

Key Points

• Ohio’s public employees’ pension system reduced its Coupang stake by 25.9% in the first quarter, selling 214,939 shares and retaining 614,142 shares valued at approximately $11.6 million.
• Coupang’s quarterly revenue rose 7.5% year over year to $8.50 billion, slightly exceeding estimates, but its loss of $0.15 per share was wider than analysts expected.
• Shares opened at $15.52, near their 52-week low, while analyst sentiment remained mixed with a consensus “Hold” rating and an average price target of $26.02.

Public Employees Retirement System of Ohio trimmed its position in shares of Coupang, Inc. (NYSE:CPNG - Free Report) by 25.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 614,142 shares of the company's stock after selling 214,939 shares during the period. Public Employees Retirement System of Ohio's holdings in Coupang were worth $11,595,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CPNG. Sunbelt Securities Inc. bought a new stake in Coupang in the 3rd quarter valued at $26,000. Reflection Asset Management acquired a new stake in shares of Coupang during the 4th quarter valued at about $28,000. Webster Bank N. A. increased its stake in Coupang by 325.8% in 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 during the period. Main Street Group LTD acquired a new position in Coupang in the first quarter worth about $40,000. Finally, Aster Capital Management DIFC Ltd bought a new position in Coupang during the fourth quarter worth about $42,000. 83.72% of the stock is owned by institutional investors.

Coupang Trading Up 0.1%

Shares of CPNG opened at $15.52 on Monday. The stock has a fifty day moving average price of $16.98 and a two-hundred day moving average price of $18.55. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.76 and a current ratio of 0.97. Coupang, Inc. has a 52-week low of $14.92 and a 52-week high of $34.08. The company has a market cap of $27.85 billion, a price-to-earnings ratio of -172.38 and a beta of 1.11.

Coupang (NYSE:CPNG - Get Free Report) last posted its quarterly earnings data on Tuesday, May 5th. The company reported ($0.15) EPS for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $8.48 billion. During the same period in the prior year, the firm posted $0.06 EPS. Coupang's revenue for the quarter was up 7.5% compared to the same quarter last year. Analysts predict that Coupang, Inc. will post -0.33 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft downgraded Coupang from a "buy" rating to a "hold" rating and set a $23.00 price objective on the stock. in a report on Wednesday, May 6th. Citigroup cut Coupang from a "buy" rating to a "neutral" rating and lowered their price target for the company from $23.00 to $22.20 in a research report on Wednesday, May 6th. Barclays reissued an "overweight" rating and set a $29.00 price objective on shares of Coupang in a report on Tuesday, July 7th. CLSA started coverage on shares of Coupang in a report on Monday, June 15th. They issued an "outperform" rating and a $24.00 target price on the stock. Finally, Bank of America dropped their target price on shares of Coupang from $28.00 to $27.00 and set a "buy" rating for the company in a research report on Wednesday, June 24th. Five investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $26.02.

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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