Illinois Municipal Retirement Fund Has $9.96 Million Stock Position in Coupang, Inc. $CPNG

Illinois Municipal Retirement Fund reduced its stake in Coupang, Inc. (NYSE:CPNG) by 9.2% during the 1st quarter, Holdings Channel reports. The fund owned 527,469 shares of the company’s stock after selling 53,226 shares during the period. Illinois Municipal Retirement Fund’s holdings in Coupang were worth $9,959,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of CPNG. EverSource Wealth Advisors LLC grew its position in shares of Coupang by 72.6% in the second quarter. EverSource Wealth Advisors LLC now owns 3,316 shares of the company’s stock valued at $99,000 after purchasing an additional 1,395 shares during the last quarter. Baird Financial Group Inc. lifted its holdings in Coupang by 52.8% during the 2nd quarter. Baird Financial Group Inc. now owns 23,471 shares of the company’s stock worth $703,000 after purchasing an additional 8,107 shares during the last quarter. Cerity Partners LLC boosted its stake in Coupang by 48.1% in the 2nd quarter. Cerity Partners LLC now owns 45,252 shares of the company’s stock valued at $1,356,000 after purchasing an additional 14,703 shares during the period. State Street Corp boosted its stake in Coupang by 8.4% in the 2nd quarter. State Street Corp now owns 15,641,775 shares of the company’s stock valued at $468,628,000 after purchasing an additional 1,210,801 shares during the period. Finally, AXA S.A. acquired a new position in Coupang in the 2nd quarter valued at $411,000. 83.72% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CPNG. Bank of America lowered their price objective on Coupang from $28.00 to $27.00 and set a “buy” rating on the stock in a research report on Wednesday, June 24th. CLSA began coverage on shares of Coupang in a research report on Monday, June 15th. They issued an “outperform” rating and a $24.00 target price for the company. The Goldman Sachs Group set a $31.00 price target on shares of Coupang in a research note on Thursday, July 9th. Weiss Ratings lowered shares of Coupang from a “sell (d+)” rating to a “sell (d)” rating in a research report on Thursday, May 7th. Finally, Citigroup cut shares of Coupang from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $23.00 to $22.20 in a research note on Wednesday, May 6th. Five investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $26.02.

Coupang Stock Down 3.2%

Shares of CPNG opened at $16.86 on Friday. The firm has a 50 day simple moving average of $17.02 and a two-hundred day simple moving average of $18.87. 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, Inc. has a one year low of $14.92 and a one year high of $34.08. The company has a market cap of $30.27 billion, a P/E ratio of -187.35 and a beta of 1.11.

Coupang (NYSE:CPNG) last issued its earnings results on Tuesday, May 5th. The company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.06). Coupang had a negative net margin of 0.47% and a negative return on equity of 3.67%. 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 business posted $0.06 EPS. The company’s revenue for the quarter was up 7.5% compared to the same quarter last year. Research analysts forecast that Coupang, Inc. will post -0.33 EPS for the current fiscal year.

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.