Verition Fund Management LLC bought a new position in shares of Coupang, Inc. (NYSE:CPNG – Get Rating) during the first quarter, Holdings Channel reports. The firm bought 37,708 shares of the company’s stock, valued at approximately $667,000.
A number of other hedge funds also recently made changes to their positions in CPNG. Capital International Investors raised its stake in shares of Coupang by 970.2% during the 4th quarter. Capital International Investors now owns 69,895,456 shares of the company’s stock worth $2,053,528,000 after purchasing an additional 63,364,316 shares during the period. Baillie Gifford & Co. increased its holdings in Coupang by 70.8% in the 1st quarter. Baillie Gifford & Co. now owns 110,367,002 shares of the company’s stock worth $1,951,288,000 after acquiring an additional 45,751,780 shares during the last quarter. Massachusetts Institute of Technology purchased a new stake in Coupang in the 4th quarter worth about $475,901,000. Capital World Investors increased its holdings in Coupang by 210.2% in the 4th quarter. Capital World Investors now owns 20,089,943 shares of the company’s stock worth $590,243,000 after acquiring an additional 13,614,268 shares during the last quarter. Finally, Altos Ventures Management Inc. purchased a new stake in Coupang in the 4th quarter worth about $109,052,000. 71.59% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Several equities research analysts recently weighed in on CPNG shares. Morgan Stanley lifted their price objective on Coupang from $18.00 to $25.00 and gave the stock an “overweight” rating in a report on Monday, August 15th. Macquarie assumed coverage on Coupang in a report on Tuesday, August 9th. They set an “outperform” rating and a $26.00 target price for the company. Citigroup lifted their target price on Coupang to $17.00 in a report on Thursday, June 9th. CLSA lowered 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, Deutsche Bank Aktiengesellschaft lowered Coupang from a “buy” rating to a “hold” rating and lifted their target price for the company from $15.00 to $18.50 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 given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $21.99.
Insider Buying and Selling
Coupang Stock Down 1.4 %
Shares of NYSE CPNG opened at $16.75 on Friday. Coupang, Inc. has a 12 month low of $8.98 and a 12 month high of $30.94. The company has a current ratio of 1.21, a quick ratio of 0.87 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $29.59 billion, a price-to-earnings ratio of -28.88 and a beta of 1.29. The business has a 50-day moving average of $17.70 and a 200-day moving average of $15.84.
Coupang (NYSE:CPNG – Get Rating) last issued its quarterly earnings data on Wednesday, August 10th. The company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.11) by $0.07. Coupang had a negative return on equity of 45.82% and a negative net margin of 5.10%. The company had revenue of $5.04 billion during the quarter, compared to analyst estimates of $5.22 billion. During the same quarter in the previous year, the firm earned ($0.13) earnings per share. Coupang’s revenue was up 12.5% on a year-over-year basis. Sell-side analysts expect that Coupang, Inc. will post -0.21 earnings per share for the current fiscal 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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