Knollwood Investment Advisory LLC Cuts Holdings in Coupang, Inc. $CPNG

Knollwood Investment Advisory LLC reduced its position in Coupang, Inc. (NYSE:CPNG) by 75.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 12,390 shares of the company’s stock after selling 37,510 shares during the quarter. Knollwood Investment Advisory LLC’s holdings in Coupang were worth $292,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Sunbelt Securities Inc. purchased a new position in shares of Coupang in the 3rd quarter worth $26,000. Fifth Third Bancorp raised its position in shares of Coupang by 1,250.0% in the 3rd quarter. Fifth Third Bancorp now owns 1,080 shares of the company’s stock worth $35,000 after buying an additional 1,000 shares during the period. Colonial Trust Advisors purchased a new position in shares of Coupang in the 3rd quarter worth $48,000. LGT Financial Advisors LLC purchased a new position in shares of Coupang in the 3rd quarter worth $52,000. Finally, Advisory Services Network LLC purchased a new position in shares of Coupang in the 3rd quarter worth $76,000. 83.72% of the stock is owned by hedge funds and other institutional investors.

Coupang Trading Down 2.3%

NYSE:CPNG opened at $16.86 on Friday. The business’s 50-day moving average is $18.01 and its two-hundred day moving average is $20.17. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.97 and a quick ratio of 0.76. The firm has a market capitalization of $30.26 billion, a PE ratio of -187.28 and a beta of 1.12. Coupang, Inc. has a 12 month low of $14.92 and a 12 month high of $34.08.

Coupang (NYSE:CPNG) last announced its earnings results on Tuesday, May 5th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.06). The business had revenue of $8.50 billion for 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 firm’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. Research analysts predict that Coupang, Inc. will post -0.17 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

CPNG has been the topic of several research reports. Wall Street Zen lowered Coupang from a “hold” rating to a “strong sell” rating in a research report on Saturday, March 14th. Weiss Ratings lowered Coupang from a “sell (d+)” rating to a “sell (d)” rating in a research report on Thursday, May 7th. UBS Group set a $25.00 price objective on Coupang in a research report on Thursday, February 19th. Morgan Stanley cut their price objective on Coupang from $31.00 to $29.00 and set an “overweight” rating on the stock in a research report on Monday, March 2nd. Finally, Barclays raised their price objective on Coupang from $24.00 to $30.00 and gave the company an “overweight” rating in a research report on Thursday, April 23rd. Four investment 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. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $26.92.

About Coupang

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.