Coupang (NYSE:CPNG – Get Free Report) was downgraded by analysts at Deutsche Bank Aktiengesellschaft from a “buy” rating to a “hold” rating in a report issued on Wednesday, Briefing.com reports. They presently have a $20.00 price target on the stock. Deutsche Bank Aktiengesellschaft’s target price would suggest a potential upside of 10.13% from the company’s current price.
Separately, Bank of America lifted their price objective on shares of Coupang from $18.00 to $19.00 in a research note on Thursday, May 11th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $21.80.
Coupang Stock Up 0.9 %
Coupang (NYSE:CPNG – Get Free Report) last released its quarterly earnings data on Tuesday, May 9th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.08). Coupang had a return on equity of 9.03% and a net margin of 0.98%. The firm had revenue of $5.80 billion for the quarter, compared to the consensus estimate of $5.64 billion. During the same period in the previous year, the business earned ($0.12) EPS. The firm’s revenue was up 13.4% compared to the same quarter last year. On average, sell-side analysts forecast that Coupang will post 0.25 earnings per share for the current year.
Insider Activity
In related news, insider Tae Jung Kim sold 4,671 shares of the stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $17.56, for a total transaction of $82,022.76. Following the completion of the transaction, the insider now owns 260,142 shares in the company, valued at $4,568,093.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Pedro Franceschi sold 7,143 shares of the stock in a transaction on Friday, May 19th. The shares were sold at an average price of $15.99, for a total transaction of $114,216.57. Following the completion of the transaction, the director now owns 21,428 shares in the company, valued at $342,633.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Tae Jung Kim sold 4,671 shares of the company’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $17.56, for a total transaction of $82,022.76. Following the sale, the insider now directly owns 260,142 shares in the company, valued at $4,568,093.52. The disclosure for this sale can be found here. Insiders sold 2,337,078 shares of company stock worth $36,626,905 over the last quarter. 14.90% of the stock is currently owned by company insiders.
Institutional Trading of Coupang
Several institutional investors and hedge funds have recently added to or reduced their stakes in CPNG. Norges Bank bought a new stake in Coupang during the fourth quarter worth $194,784,000. Sands Capital Management LLC bought a new position in shares of Coupang in the fourth quarter valued at about $158,925,000. Millennium Management LLC raised its position in shares of Coupang by 656.5% in the fourth quarter. Millennium Management LLC now owns 8,241,323 shares of the company’s stock valued at $121,230,000 after purchasing an additional 7,151,964 shares during the period. Wellington Management Group LLP raised its position in shares of Coupang by 24.9% in the first quarter. Wellington Management Group LLP now owns 31,357,008 shares of the company’s stock valued at $501,712,000 after purchasing an additional 6,243,962 shares during the period. Finally, Marshall Wace LLP raised its position in shares of Coupang by 4,134.0% in the fourth quarter. Marshall Wace LLP now owns 5,945,647 shares of the company’s stock valued at $87,460,000 after purchasing an additional 5,805,220 shares during the period. 69.55% of the stock is owned by institutional investors.
Coupang Company Profile
Coupang, Inc, together with its subsidiaries owns and operates in e-commerce business through its mobile applications and Internet websites primarily in South Korea. The company operates through two segments, Product Commerce and Developing Offerings. It sells various products and services in the categories of home goods and décor products, apparel, beauty products, fresh food and groceries, sporting goods, electronics, and everyday consumables, as well as travel, and restaurant order and delivery services.
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