Baillie Gifford & Co. recently announced the acquisition of new stake in Coupang Inc. (NYSE:CPNG). The institutional investor has increased its shareholding in the Consumer Cyclical company by 0.07% to 108.43 million shares with purchase of 79319.0 shares. This fresh investment now brings its stake to 6.81% valued currently at $1.87 billion. In addition, Morgan Stanley Investment Managem raised its holdings by 53.59 million to 87.6 million shares. And Fidelity Management & Research Co has lifted its position by 5.12% or 1.29 million shares – to 26.51 million shares.
With over 4.22 million Coupang Inc. (CPNG) shares trading Tuesday and a closing price of $19.28 on the day, the dollar volume was approximately $81.38 million. The shares have shown a positive half year performance of 49.57% and its price on 11/22/22 lost nearly -0.98%. Currently, there are 1.77B common shares owned by the public and among those 1.58B shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 16 analysts who have offered their price forecasts for CPNG have a consensus price objective of $24.11. The analysts have set the share’s price value over the next 12 months at a high of $30.00 and a low of $9.90. The average price target is 19.2% above its recent price level and a downside to the estimated low will see the stock lose -94.75% over that period. But an upside of 35.73% will see the stock hit the forecast high price target while median target price for the stock is $26.00.
Insiders at the company have transacted a total of 34 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 20 of these insider trades were purchases, accounting for 1,881,710 shares. Insider sales of the common stock occurred on 14 occasions, with total insider shares sold totaling 151,370,097 shares.
The top 3 mutual fund holders in Coupang Inc. are American Funds Fundamental Invest, Morgan Stanley Invt. Fds. – Globa, and American Funds Growth Fund of Ame. American Funds Fundamental Invest owns 37.27 million shares of the company’s stock, all valued at over $643.71 million. The company sold -4.86 million shares recently to bring their total holdings to about 2.34% of the shares outstanding. Morgan Stanley Invt. Fds. – Globa sold -1.39 million shares to see its total holdings shrink to 27.31 million shares valued at over $471.69 million and representing 1.72% of the shares outstanding. American Funds Growth Fund of Ame sold 25463.0 shares to bring its total holdings to over 27.0 million shares at a value of $466.24 million. American Funds Growth Fund of Ame now owns shares totaling to 1.70% of the shares outstanding.
Shares of Coupang Inc. (NYSE: CPNG) opened at $19.46, down -$0.01 from a prior closing price of $19.47. The company’s stock has a 5-day price change of 0.26% and 11.77% over the past three months. CPNG shares are trading -34.38% year to date (YTD), with the 12-month market performance down to -27.27% lower. It has a 12-month low price of $8.98 and touched a high of $30.65 over the same period. CPNG has an average intraday trading volume of 7.10 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 7.83%, 9.06%, and 13.61% respectively.
Institutional ownership of Coupang Inc. (NYSE: CPNG) shares accounts for 80.10% of the company’s 1.77B shares outstanding. Mutual fund holders own 26.44%, while other institutional holders and individual stakeholders account for 37.01% and 21.07% respectively.
It has a market capitalization of $33.37B. The earnings-per-share (ttm) stands at -$0.34. Price movements for the stock have been influenced by the stock’s volatility, which stands at 5.22% over the week and 6.14% over the month.
Analysts forecast that Coupang Inc. (CPNG) will achieve an EPS of -$0.03 for the current quarter, -$0.01 for the next quarter and -$0.04 for 2023. The lowest estimate earnings-per-share for the quarter is -$0.06 while analysts give the company a high EPS estimate of -$0.01. Comparatively, EPS for the current quarter was -$0.19 a year ago. Earnings per share for the fiscal year are expected to decrease by -234.30%, and 328.60% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 16 brokerage firm advisors rate Coupang Inc. (CPNG) as a “Moderate Buy” at a consensus score of 2.40. Specifically, 12 Wall Street analysts polled rate the stock as a buy, while 3 of the 16 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the CPNG, a number of firms have released research notes about the stock. HSBC Securities stated their Buy rating for the stock in a research note on October 07, 2022, with the firm’s price target at $27.80. CLSA coverage for the Coupang Inc. (CPNG) stock in a research note released on August 16, 2022 offered a Sell rating with a price target of $16.40. Deutsche Bank was of a view on August 11, 2022 that the stock is Hold, while Macquarie gave the stock Outperform rating on August 09, 2022, issuing a price target of $26. Credit Suisse on their part issued Outperform rating on July 01, 2022.