Citigroup Has Lowered Expectations for Coupang (NYSE:CPNG) Stock Price

Coupang (NYSE:CPNG - Get Free Report) had its target price decreased by Citigroup from $31.00 to $28.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Citigroup's price target would suggest a potential upside of 25.50% from the stock's previous close.

Separately, Sanford C. Bernstein upgraded Coupang from an "underperform" rating to an "outperform" rating and set a $30.00 target price on the stock in a report on Monday, October 7th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $27.56.

Coupang Trading Down 1.9 %

Shares of NYSE CPNG traded down $0.44 during midday trading on Wednesday, reaching $22.31. 5,876,144 shares of the stock were exchanged, compared to its average volume of 6,421,629. The stock has a 50 day moving average price of $23.92 and a 200-day moving average price of $23.25. The company has a current ratio of 1.13, a quick ratio of 0.86 and a debt-to-equity ratio of 0.28. The company 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 52-week low of $13.51 and a 52-week high of $26.91.

Coupang (NYSE:CPNG - Get Free Report) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.05. The business had revenue of $7.87 billion for the quarter, compared to analysts' expectations of $7.76 billion. Coupang had a return on equity of 11.52% and a net margin of 3.57%. The business's revenue was up 27.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.05 earnings per share. Equities research analysts expect that Coupang will post 0.11 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Bom Kim sold 15,000,000 shares of the firm's stock in a transaction on Monday, November 11th. The shares were sold at an average price of $22.97, for a total transaction of $344,550,000.00. Following the completion of the sale, the chief executive officer now directly owns 2,000,000 shares of the company's stock, valued at approximately $45,940,000. This trade represents a 88.24 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Greenoaks Capital Partners Llc acquired 687,700 shares of the business's stock in a transaction on Monday, November 11th. The stock was purchased at an average price of $24.08 per share, for a total transaction of $16,559,816.00. Following the acquisition, the director now directly owns 52,726,423 shares in the company, valued at $1,269,652,265.84. This represents a 1.32 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 13.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Coupang

A number of hedge funds have recently bought and sold shares of the business. Brooklyn Investment Group acquired a new stake in shares of Coupang in the 3rd quarter valued at about $28,000. Asset Dedication LLC raised its stake in Coupang by 438.1% during the third quarter. Asset Dedication LLC now owns 1,216 shares of the company's stock valued at $30,000 after buying an additional 990 shares in the last quarter. Van ECK Associates Corp lifted its holdings in Coupang by 63.1% during the 3rd quarter. Van ECK Associates Corp now owns 1,251 shares of the company's stock worth $32,000 after buying an additional 484 shares during the last quarter. Wolff Wiese Magana LLC grew its position in shares of Coupang by 330.4% in the 3rd quarter. Wolff Wiese Magana LLC now owns 1,687 shares of the company's stock worth $41,000 after acquiring an additional 1,295 shares in the last quarter. Finally, Signaturefd LLC increased its holdings in shares of Coupang by 438.9% in the 3rd 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 last quarter. 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.