SG Americas Securities LLC Purchases 111,881 Shares of Coupang, Inc. $CPNG

SG Americas Securities LLC lifted its position in shares of Coupang, Inc. (NYSE:CPNG) by 11.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,100,603 shares of the company’s stock after buying an additional 111,881 shares during the period. SG Americas Securities LLC owned about 0.06% of Coupang worth $20,779,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Sunbelt Securities Inc. bought a new stake in shares of Coupang in the 3rd quarter valued at about $26,000. Reflection Asset Management bought a new position in Coupang during the 4th quarter worth approximately $28,000. Fifth Third Bancorp grew its position in Coupang by 1,250.0% during the 3rd quarter. Fifth Third Bancorp now owns 1,080 shares of the company’s stock worth $35,000 after acquiring an additional 1,000 shares during the last quarter. Aster Capital Management DIFC Ltd purchased a new position in Coupang in the 4th quarter worth approximately $42,000. Finally, EFG International AG bought a new stake in Coupang in the fourth quarter valued at approximately $44,000. Institutional investors own 83.72% of the company’s stock.

Coupang Trading Up 1.5%

NYSE:CPNG opened at $17.77 on Thursday. The firm has a market capitalization of $31.90 billion, a P/E ratio of -197.43 and a beta of 1.12. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.97 and a quick ratio of 0.76. Coupang, Inc. has a one year low of $14.92 and a one year high of $34.08. The company’s 50-day simple moving average is $17.75 and its 200 day simple moving average is $19.58.

Coupang (NYSE:CPNG) last released its quarterly earnings data on Tuesday, May 5th. The company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.06). Coupang had a negative net margin of 0.47% and a negative return on equity of 3.67%. The firm had revenue of $8.50 billion for the quarter, compared to the consensus estimate of $8.48 billion. During the same quarter in the prior year, the business posted $0.06 earnings per share. The firm’s revenue for the quarter was up 7.5% compared to the same quarter last year. As a group, analysts forecast that Coupang, Inc. will post -0.17 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently commented on CPNG shares. Barclays upped their price target on shares of Coupang from $24.00 to $30.00 and gave the company an “overweight” rating in a report on Thursday, April 23rd. Sanford C. Bernstein restated an “underperform” rating on shares of Coupang in a research report on Monday, March 2nd. Nomura lowered their price objective on shares of Coupang from $22.00 to $20.00 and set a “neutral” rating for the company in a research note on Monday, March 2nd. Morgan Stanley dropped their target price on shares of Coupang from $31.00 to $29.00 and set an “overweight” rating for the company in a report on Monday, March 2nd. Finally, CLSA began coverage on Coupang in a research note on Monday, June 15th. They issued an “outperform” rating and a $24.00 target price on the stock. Five research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Coupang has an average rating of “Hold” and an average target price of $25.65.

About Coupang

Coupang, listed on the New York Stock Exchange under the ticker CPNG, is a South Korean e-commerce company headquartered in Seoul. Founded in 2010 by Bom Kim, the company grew rapidly by combining an online marketplace with a large direct-retail business model. Coupang completed a primary listing in the United States in 2021, and it has become one of South Korea’s leading online retailers by focusing on convenience, speed and a wide product assortment across consumer categories.

The company operates a vertically integrated e-commerce platform that includes a customer-facing marketplace and an extensive logistics and fulfillment network.