Coupang (NYSE:CPNG) Sets New 1-Year Low – Time to Sell?

Shares of Coupang, Inc. (NYSE:CPNG) reached a new 52-week low on Wednesday . The company traded as low as $14.38 and last traded at $14.4370, with a volume of 7559804 shares. The stock had previously closed at $14.68.

Analysts Set New Price Targets

Several brokerages have issued reports on CPNG. Deutsche Bank Aktiengesellschaft raised Coupang from a “hold” rating to a “buy” rating and cut their price target for the company from $23.00 to $21.50 in a report on Wednesday, August 5th. The Goldman Sachs Group set a $31.00 price objective on shares of Coupang in a research report on Thursday, July 9th. Mizuho set a $22.00 target price on shares of Coupang in a research note on Wednesday, August 5th. Bank of America reduced their target price on shares of Coupang from $27.00 to $24.00 and set a “buy” rating for the company in a report on Wednesday, August 5th. Finally, CLSA began coverage on shares of Coupang in a report on Monday, June 15th. They issued an “outperform” rating and a $24.00 price target on the stock. Six analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Coupang has a consensus rating of “Hold” and an average target price of $25.39.

Coupang Stock Down 1.7%

The company has a current ratio of 0.87, a quick ratio of 0.68 and a debt-to-equity ratio of 0.21. The stock has a market cap of $25.95 billion, a P/E ratio of -33.57 and a beta of 1.15. The firm has a 50-day simple moving average of $16.23 and a two-hundred day simple moving average of $17.56.

Coupang (NYSE:CPNG) last announced its earnings results on Tuesday, August 4th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.18. The company had revenue of $8.86 billion during the quarter, compared to analysts’ expectations of $8.92 billion. Coupang had a negative net margin of 2.16% and a negative return on equity of 8.77%. Coupang’s quarterly revenue was up 3.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.02 earnings per share. Equities research analysts expect that Coupang, Inc. will post -0.46 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Harold Rogers sold 192,110 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $16.18, for a total transaction of $3,108,339.80. Following the transaction, the insider directly owned 740,931 shares of the company’s stock, valued at approximately $11,988,263.58. This trade represents a 20.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Jonathan D. Lee sold 5,519 shares of Coupang stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $16.10, for a total transaction of $88,855.90. Following the completion of the sale, the chief accounting officer owned 181,915 shares of the company’s stock, valued at approximately $2,928,831.50. The trade was a 2.94% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 12.83% of the stock is owned by insiders.

Hedge Funds Weigh In On Coupang

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Sequoia Financial Advisors LLC lifted its position in shares of Coupang by 18.0% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 89,534 shares of the company’s stock valued at $1,555,000 after acquiring an additional 13,666 shares during the period. MCF Advisors LLC increased its position in shares of Coupang by 806.8% in the second quarter. MCF Advisors LLC now owns 13,793 shares of the company’s stock worth $240,000 after purchasing an additional 12,272 shares during the period. Engineers Gate Manager LP bought a new position in shares of Coupang in the second quarter worth $6,081,000. Carrhae Capital LLP acquired a new position in Coupang in the second quarter valued at about $38,187,000. Finally, Light Street Capital Management LLC raised its stake in Coupang by 92.5% in the second quarter. Light Street Capital Management LLC now owns 2,025,000 shares of the company’s stock valued at $35,174,000 after purchasing an additional 973,043 shares in the last quarter. 83.72% of the stock is owned by institutional investors and hedge funds.

Coupang Company Profile

Coupang, Inc (NYSE: CPNG) is an e-commerce and technology company founded in South Korea in 2010. The company operates an online marketplace offering consumer goods across categories such as electronics, household products, apparel, beauty products and groceries.

Its services include Rocket Delivery, a logistics and fulfillment network designed to provide fast delivery; Rocket Fresh, its grocery delivery service; and Coupang Eats, a food-ordering and delivery platform. Coupang also operates Coupang Play, a subscription-based streaming service, and Coupang Pay, a digital payments service.

Coupang serves customers primarily in South Korea and Taiwan.