Coupang (NYSE:CPNG) Shares Gap Down Following Weak Earnings

Coupang, Inc. (NYSE:CPNG) shares gapped down before the market opened on Wednesday following a weaker than expected earnings announcement. The stock had previously closed at $23.65, but opened at $22.09. Coupang shares last traded at $21.55, with a volume of 10,822,636 shares traded.

The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.01). The company had revenue of $7.11 billion for the quarter, compared to analyst estimates of $6.95 billion. Coupang had a return on equity of 15.04% and a net margin of 5.57%. The business’s revenue for the quarter was up 22.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.05 earnings per share.

Analyst Ratings Changes

Several analysts recently issued reports on CPNG shares. Deutsche Bank Aktiengesellschaft upgraded Coupang from a “hold” rating to a “buy” rating and increased their price objective for the stock from $18.50 to $21.00 in a report on Thursday, February 29th. Barclays raised their price target on Coupang from $24.00 to $25.00 and gave the stock an “overweight” rating in a research note on Thursday, February 29th. Mizuho boosted their price target on Coupang from $20.00 to $23.00 and gave the company a “neutral” rating in a research note on Wednesday. Bank of America began coverage on shares of Coupang in a research note on Friday, May 3rd. They set a “buy” rating and a $30.00 price target on the stock. Finally, TheStreet raised shares of Coupang from a “d+” rating to a “c-” rating in a research note on Tuesday, March 5th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Coupang presently has a consensus rating of “Moderate Buy” and a consensus target price of $23.92.

Insider Transactions at Coupang

In other Coupang news, insider Pranam Kolari sold 2,048 shares of Coupang stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $22.34, for a total value of $45,752.32. Following the transaction, the insider now directly owns 187,951 shares of the company’s stock, valued at approximately $4,198,825.34. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, major shareholder Svf Investments (Uk) Ltd sold 31,614,154 shares of Coupang stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $19.01, for a total transaction of $600,985,067.54. Following the sale, the insider now owns 364,542,259 shares of the company’s stock, valued at approximately $6,929,948,343.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Pranam Kolari sold 2,048 shares of the company’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $22.34, for a total value of $45,752.32. Following the completion of the transaction, the insider now owns 187,951 shares of the company’s stock, valued at $4,198,825.34. The disclosure for this sale can be found here. Over the last three months, insiders sold 33,355,282 shares of company stock worth $633,457,030. 14.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Coupang

Institutional investors and hedge funds have recently bought and sold shares of the business. Bank of New York Mellon Corp raised its stake in Coupang by 3.3% during the third quarter. Bank of New York Mellon Corp now owns 2,632,070 shares of the company’s stock worth $44,745,000 after acquiring an additional 84,353 shares in the last quarter. Mackenzie Financial Corp bought a new position in Coupang during the 3rd quarter valued at about $1,590,000. TD Asset Management Inc boosted its position in Coupang by 3.0% in the third quarter. TD Asset Management Inc now owns 402,380 shares of the company’s stock valued at $6,840,000 after buying an additional 11,874 shares in the last quarter. Flossbach Von Storch AG grew its stake in Coupang by 5.6% during the third quarter. Flossbach Von Storch AG now owns 142,500 shares of the company’s stock worth $2,422,000 after buying an additional 7,500 shares during the last quarter. Finally, CIBC Asset Management Inc increased its holdings in shares of Coupang by 2.3% during the third quarter. CIBC Asset Management Inc now owns 39,502 shares of the company’s stock worth $672,000 after buying an additional 899 shares in the last quarter. Institutional investors own 83.72% of the company’s stock.

Coupang Stock Down 8.1 %

The company has a market cap of $38.99 billion, a P/E ratio of 28.80, a PEG ratio of 19.21 and a beta of 1.13. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.14 and a quick ratio of 0.90. The business’s 50 day moving average price is $19.79 and its 200-day moving average price is $17.21.

Coupang Company Profile

Coupang, Inc, together with its subsidiaries owns and operates retail business through its mobile applications and Internet websites primarily in South Korea. The company operates through Product Commerce and Developing Offerings segments. It sells various products and services in the categories of home goods and décor products, apparel, beauty products, fresh food and groceries, sporting goods, electronics, and everyday consumables, as well as travel, and restaurant order and delivery services.