Coupang (NYSE:CPNG) Sets New 12-Month Low – Time to Sell?

Coupang, Inc. (NYSE:CPNG)’s share price hit a new 52-week low during trading on Wednesday . The company traded as low as $14.38 and last traded at $14.4370, with a volume of 7559804 shares changing hands. The stock had previously closed at $14.68.

Analysts Set New Price Targets

CPNG has been the topic of several analyst reports. Mizuho set a $22.00 target price on shares of Coupang in a report on Wednesday, August 5th. Barclays reiterated an “overweight” rating and issued a $29.00 price target on shares of Coupang in a research note on Tuesday, July 7th. The Goldman Sachs Group set a $31.00 price objective on shares of Coupang in a research note on Thursday, July 9th. Weiss Ratings reiterated a “sell (d)” rating on shares of Coupang in a research report on Tuesday, August 4th. Finally, CLSA started coverage on Coupang in a research report on Monday, June 15th. They issued an “outperform” rating and a $24.00 target price for the company. Five investment analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Coupang presently has a consensus rating of “Hold” and an average price target of $24.06.

Coupang Stock Performance

The company has a quick ratio of 0.68, a current ratio of 0.87 and a debt-to-equity ratio of 0.21. The stock has a fifty day moving average price of $16.04 and a 200-day moving average price of $17.50. The firm has a market cap of $26.00 billion, a price-to-earnings ratio of -33.64 and a beta of 1.15.

Coupang (NYSE:CPNG) last announced its quarterly earnings data on Tuesday, August 4th. The company reported ($0.09) EPS for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.18. Coupang had a negative net margin of 2.16% and a negative return on equity of 8.77%. The company had revenue of $8.86 billion during the quarter, compared to the consensus estimate of $8.92 billion. During the same quarter in the prior year, the firm earned $0.02 EPS. Coupang’s quarterly revenue was up 3.9% on a year-over-year basis. On average, analysts expect that Coupang, Inc. will post -0.46 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CAO Jonathan D. Lee sold 5,519 shares of the company’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $16.10, for a total transaction of $88,855.90. Following the transaction, the chief accounting officer directly owned 181,915 shares of the company’s stock, valued at $2,928,831.50. This represents a 2.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Harold Rogers sold 192,110 shares of the business’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $16.18, for a total transaction of $3,108,339.80. Following the sale, the insider directly owned 740,931 shares in the company, valued at approximately $11,988,263.58. This represents a 20.59% decrease in their position. The SEC filing for this sale provides additional information. 12.83% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Coupang

Several hedge funds have recently added to or reduced their stakes in the business. Sequoia Financial Advisors LLC raised its stake in Coupang by 18.0% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 89,534 shares of the company’s stock valued at $1,555,000 after purchasing an additional 13,666 shares during the last quarter. MCF Advisors LLC lifted its stake in shares of Coupang by 806.8% during the 2nd quarter. MCF Advisors LLC now owns 13,793 shares of the company’s stock worth $240,000 after purchasing an additional 12,272 shares during the period. Engineers Gate Manager LP acquired a new position in Coupang in the second quarter valued at $6,081,000. Carrhae Capital LLP acquired a new stake in Coupang in the 2nd quarter worth about $38,187,000. Finally, Light Street Capital Management LLC increased its stake in shares of Coupang by 92.5% during the 2nd quarter. Light Street Capital Management LLC now owns 2,025,000 shares of the company’s stock valued at $35,174,000 after acquiring an additional 973,043 shares during the last quarter. 83.72% of the stock is currently owned by hedge funds and other institutional investors.

Coupang Company Profile

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.