Verition Fund Management LLC purchased a new stake in Coupang, Inc. (NYSE:CPNG – Get Rating) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 37,708 shares of the company’s stock, valued at approximately $667,000.
Other institutional investors and hedge funds have also modified their holdings of the company. Harbor Investment Advisory LLC grew its stake in shares of Coupang by 14,350.0% in the first quarter. Harbor Investment Advisory LLC now owns 1,734 shares of the company’s stock valued at $31,000 after acquiring an additional 1,722 shares in the last quarter. Optimum Investment Advisors lifted its position in Coupang by 300.0% during the fourth quarter. Optimum Investment Advisors now owns 2,000 shares of the company’s stock worth $59,000 after purchasing an additional 1,500 shares during the period. Steward Partners Investment Advisory LLC lifted its position in Coupang by 244.6% during the first quarter. Steward Partners Investment Advisory LLC now owns 2,240 shares of the company’s stock worth $40,000 after purchasing an additional 1,590 shares during the period. Castleview Partners LLC bought a new stake in Coupang during the fourth quarter worth about $185,000. Finally, Compagnie Lombard Odier SCmA lifted its position in Coupang by 46.0% during the first quarter. Compagnie Lombard Odier SCmA now owns 7,300 shares of the company’s stock worth $129,000 after purchasing an additional 2,300 shares during the period. 71.59% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several equities research analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft cut shares of Coupang from a “buy” rating to a “hold” rating and upped their price objective for the stock from $15.00 to $18.50 in a research report on Thursday, August 11th. Morgan Stanley upped their price objective on shares of Coupang from $18.00 to $25.00 and gave the stock an “overweight” rating in a research report on Monday, August 15th. Citigroup upped their price objective on shares of Coupang to $17.00 in a research report on Thursday, June 9th. CLSA cut shares of Coupang from an “outperform” rating to a “sell” rating and set a $16.40 target price for the company. in a report on Tuesday, August 16th. Finally, Mizuho increased their target price on shares of Coupang from $18.00 to $22.00 and gave the stock a “neutral” rating in a report on Thursday, August 11th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Coupang has an average rating of “Moderate Buy” and an average price target of $21.99.
Insider Buying and Selling at Coupang
Coupang Stock Performance
NYSE:CPNG opened at $16.75 on Friday. The company has a market capitalization of $29.59 billion, a PE ratio of -28.88 and a beta of 1.29. The company has a 50 day simple moving average of $17.70 and a two-hundred day simple moving average of $15.84. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.87 and a current ratio of 1.21. Coupang, Inc. has a fifty-two week low of $8.98 and a fifty-two week high of $30.94.
Coupang (NYSE:CPNG – Get Rating) last released its earnings results on Wednesday, August 10th. The company reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.07. The business had revenue of $5.04 billion during the quarter, compared to the consensus estimate of $5.22 billion. Coupang had a negative net margin of 5.10% and a negative return on equity of 45.82%. The company’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.13) EPS. Research analysts anticipate that Coupang, Inc. will post -0.21 earnings per share for the current year.
Coupang Company Profile
Coupang, Inc owns and operates in e-commerce business through its mobile applications and Internet websites primarily in South Korea. It operates through two segments, Product Commerce and Growth Initiatives. The company 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.
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