NBT Bank N A NY Sells 26,735 Shares of Coupang, Inc. $CPNG

NBT Bank N A NY decreased its stake in Coupang, Inc. (NYSE:CPNG) by 83.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,315 shares of the company’s stock after selling 26,735 shares during the period. NBT Bank N A NY’s holdings in Coupang were worth $100,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. grew its position in shares of Coupang by 3.3% in the 4th quarter. Vanguard Group Inc. now owns 29,547,637 shares of the company’s stock valued at $697,029,000 after acquiring an additional 951,812 shares during the period. Ethic Inc. raised its holdings in shares of Coupang by 383.2% in the 4th quarter. Ethic Inc. now owns 126,154 shares of the company’s stock valued at $2,976,000 after purchasing an additional 100,047 shares during the period. Gavilan Investment Partners LLC lifted its stake in Coupang by 9.5% in the 3rd quarter. Gavilan Investment Partners LLC now owns 1,265,000 shares of the company’s stock valued at $40,733,000 after purchasing an additional 110,000 shares during the last quarter. Bank of Nova Scotia lifted its stake in Coupang by 333.6% in the 3rd quarter. Bank of Nova Scotia now owns 879,000 shares of the company’s stock valued at $28,304,000 after purchasing an additional 676,300 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in Coupang by 7.5% in the 4th quarter. Geode Capital Management LLC now owns 24,327,724 shares of the company’s stock valued at $574,068,000 after purchasing an additional 1,689,293 shares during the last quarter. Institutional investors and hedge funds own 83.72% of the company’s stock.

Coupang Stock Performance

Shares of NYSE CPNG traded down $0.28 during trading hours on Tuesday, reaching $18.86. 3,863,140 shares of the stock were exchanged, compared to its average volume of 23,926,668. The firm has a market capitalization of $33.86 billion, a price-to-earnings ratio of -209.48 and a beta of 1.11. The stock’s fifty day simple moving average is $17.26 and its 200 day simple moving average is $19.14. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.76 and a current ratio of 0.97. Coupang, Inc. has a 52 week low of $14.92 and a 52 week high of $34.08.

Coupang (NYSE:CPNG) last issued its quarterly earnings data on Tuesday, May 5th. The company reported ($0.15) EPS 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 quarterly revenue was up 7.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.06 earnings per share. Sell-side analysts predict that Coupang, Inc. will post -0.25 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on CPNG shares. Bank of America lowered their price target on Coupang from $28.00 to $27.00 and set a “buy” rating on the stock in a research report on Wednesday, June 24th. Citigroup cut Coupang from a “buy” rating to a “neutral” rating and cut their price objective for the company from $23.00 to $22.20 in a research report on Wednesday, May 6th. Barclays lifted their target price on Coupang from $24.00 to $30.00 and gave the stock an “overweight” rating in a research note on Thursday, April 23rd. Weiss Ratings lowered Coupang from a “sell (d+)” rating to a “sell (d)” rating in a report on Thursday, May 7th. Finally, CLSA started coverage on Coupang in a research note on Monday, June 15th. They issued an “outperform” rating and a $24.00 price target on the stock. Five equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Coupang presently has a consensus rating of “Hold” and a consensus price target of $25.65.

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.