Coupang (NYSE:CPNG) Given New $28.00 Price Target at Citigroup

Coupang (NYSE:CPNG) had its price objective trimmed by Citigroup from $31.00 to $28.00 in a research report released on Wednesday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Separately, Sanford C. Bernstein raised Coupang from an “underperform” rating to an “outperform” rating and set a $30.00 price target for the company in a research report on Monday, October 7th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $27.56.

Coupang Price Performance

Coupang stock opened at $22.31 on Wednesday. The stock has a market capitalization of $40.13 billion, a P/E ratio of 39.14, a P/E/G ratio of 215.03 and a beta of 1.10. Coupang has a 12-month low of $13.51 and a 12-month high of $26.91. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.13 and a quick ratio of 0.86. The firm’s 50-day moving average is $23.92 and its two-hundred day moving average is $23.25.

Coupang (NYSE:CPNG) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.05. The company had revenue of $7.87 billion for the quarter, compared to analyst estimates of $7.76 billion. Coupang had a return on equity of 11.52% and a net margin of 3.57%. The business’s revenue for the quarter was up 27.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.05 EPS. Equities analysts predict that Coupang will post 0.11 earnings per share for the current year.

Insider Activity at Coupang

In related news, CEO Bom Kim sold 15,000,000 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $22.97, for a total transaction of $344,550,000.00. Following the completion of the transaction, the chief executive officer now owns 2,000,000 shares in the company, valued at $45,940,000. The trade was a 88.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Greenoaks Capital Partners Llc acquired 687,700 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were bought at an average price of $24.08 per share, with a total value of $16,559,816.00. Following the completion of the purchase, the director now owns 52,726,423 shares in the company, valued at $1,269,652,265.84. The trade was a 1.32 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 13.60% of the company’s stock.

Institutional Investors Weigh In On Coupang

Several large investors have recently made changes to their positions in CPNG. Brooklyn Investment Group bought a new stake in shares of Coupang during the third quarter valued at about $28,000. Asset Dedication LLC raised its position in shares of Coupang by 438.1% during the 3rd quarter. Asset Dedication LLC now owns 1,216 shares of the company’s stock worth $30,000 after buying an additional 990 shares in the last quarter. Van ECK Associates Corp lifted its stake in shares of Coupang by 63.1% in the 3rd quarter. Van ECK Associates Corp now owns 1,251 shares of the company’s stock worth $32,000 after acquiring an additional 484 shares during the period. Wolff Wiese Magana LLC boosted its holdings in shares of Coupang by 330.4% in the third quarter. Wolff Wiese Magana LLC now owns 1,687 shares of the company’s stock valued at $41,000 after acquiring an additional 1,295 shares in the last quarter. Finally, Signaturefd LLC increased its stake in shares of Coupang by 438.9% during the third quarter. Signaturefd LLC now owns 2,371 shares of the company’s stock valued at $58,000 after acquiring an additional 1,931 shares during the period. Institutional investors and hedge funds own 83.72% of the company’s stock.

About Coupang

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.