Coupang (NYSE:CPNG) Sets New 1-Year Low – Should You Sell?

by · The Markets Daily

Coupang, Inc. (NYSE:CPNG – Get Free Report) reached a new 52-week low during trading on Thursday . The company traded as low as $14.05 and last traded at $14.0530, with a volume of 1922351 shares changing hands. The stock had previously closed at $14.28.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Bank of America reduced their price target on shares of Coupang from $27.00 to $24.00 and set a “buy” rating for the company in a research report on Wednesday, August 5th. CLSA started coverage on Coupang in a report on Monday, June 15th. They set an “outperform” rating and a $24.00 price objective on the stock. Barclays reissued an “overweight” rating and issued a $29.00 target price on shares of Coupang in a report on Tuesday, July 7th. Weiss Ratings reissued a “sell (d)” rating on shares of Coupang in a research report on Tuesday, August 4th. Finally, The Goldman Sachs Group set a $31.00 price target on Coupang in a research note on Thursday, July 9th. Five analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $24.06.

View Our Latest Stock Analysis on CPNG

Coupang Stock Down 0.6%

The company has a debt-to-equity ratio of 0.21, a current ratio of 0.87 and a quick ratio of 0.68. The firm’s 50 day moving average price is $15.76 and its two-hundred day moving average price is $17.36. The firm has a market cap of $25.52 billion, a price-to-earnings ratio of -32.97 and a beta of 1.15.

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

Insider Buying and Selling

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

Hedge Funds Weigh In On Coupang

A number of large investors have recently bought and sold shares of the company. Reflection Asset Management acquired a new position in shares of Coupang during the fourth quarter worth about $28,000. Webster Bank N. A. increased its position in Coupang by 325.8% during the 1st quarter. Webster Bank N. A. now owns 1,699 shares of the company’s stock worth $32,000 after purchasing an additional 1,300 shares during the period. Main Street Group LTD purchased a new position in shares of Coupang during the 1st quarter worth approximately $40,000. Root Financial Partners LLC raised its stake in shares of Coupang by 68.5% during the 1st quarter. Root Financial Partners LLC now owns 2,265 shares of the company’s stock worth $43,000 after buying an additional 921 shares in the last quarter. Finally, Osbon Capital Management LLC acquired a new stake in shares of Coupang in the 4th quarter valued at approximately $45,000. Hedge funds and other institutional investors own 83.72% of the company’s stock.

About Coupang

(Get Free Report)

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.

Further Reading