Public Employees Retirement System of Ohio Sells 214,939 Shares of Coupang, Inc. $CPNG

Public Employees Retirement System of Ohio lowered its stake in Coupang, Inc. (NYSE:CPNG) by 25.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor 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 institutional investors have also recently bought and sold shares of CPNG. EverSource Wealth Advisors LLC boosted its position in Coupang by 72.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,316 shares of the company’s stock valued at $99,000 after buying an additional 1,395 shares during the last quarter. Baird Financial Group Inc. boosted its holdings in Coupang by 52.8% in the second quarter. Baird Financial Group Inc. now owns 23,471 shares of the company’s stock valued at $703,000 after acquiring an additional 8,107 shares during the last quarter. Cerity Partners LLC boosted its holdings in Coupang by 48.1% in the second quarter. Cerity Partners LLC now owns 45,252 shares of the company’s stock valued at $1,356,000 after acquiring an additional 14,703 shares during the last quarter. State Street Corp increased its position in Coupang by 8.4% in the second quarter. State Street Corp now owns 15,641,775 shares of the company’s stock worth $468,628,000 after purchasing an additional 1,210,801 shares during the period. Finally, AXA S.A. acquired a new stake in Coupang in the second quarter worth about $411,000. Institutional investors own 83.72% of the company’s stock.

Coupang Price Performance

Coupang stock opened at $15.52 on Monday. The firm has a market capitalization of $27.85 billion, a P/E ratio of -172.38 and a beta of 1.11. Coupang, Inc. has a 1 year low of $14.92 and a 1 year high of $34.08. The business has a 50-day moving average of $16.98 and a 200-day moving average of $18.55. The company has a current ratio of 0.97, a quick ratio of 0.76 and a debt-to-equity ratio of 0.16.

Coupang (NYSE:CPNG) last announced its quarterly 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). The firm had revenue of $8.50 billion during the quarter, compared to analyst estimates of $8.48 billion. Coupang had a negative net margin of 0.47% and a negative return on equity of 3.67%. The business’s revenue was up 7.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.06 earnings per share. On average, equities analysts anticipate that Coupang, Inc. will post -0.33 EPS for the current year.

Wall Street Analyst Weigh In

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

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.