3G Capital Partners LP Boosts Position in Coupang, Inc. $CPNG

3G Capital Partners LP grew its holdings in shares of Coupang, Inc. (NYSE:CPNG) by 16.7% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 700,000 shares of the company’s stock after acquiring an additional 100,000 shares during the quarter. Coupang comprises 3.9% of 3G Capital Partners LP’s portfolio, making the stock its 11th largest holding. 3G Capital Partners LP’s holdings in Coupang were worth $16,513,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in CPNG. Sunbelt Securities Inc. purchased a new position in shares of Coupang during the third quarter valued at approximately $26,000. Fifth Third Bancorp boosted its position in shares of Coupang by 1,250.0% during the third quarter. Fifth Third Bancorp now owns 1,080 shares of the company’s stock valued at $35,000 after purchasing an additional 1,000 shares in the last quarter. Aster Capital Management DIFC Ltd bought a new stake in shares of Coupang during the fourth quarter valued at approximately $42,000. EFG International AG bought a new stake in shares of Coupang during the fourth quarter valued at approximately $44,000. Finally, Colonial Trust Advisors bought a new stake in shares of Coupang during the third quarter valued at approximately $48,000. 83.72% of the stock is owned by hedge funds and other institutional investors.

Coupang Trading Up 4.6%

Coupang stock opened at $18.87 on Thursday. The company has a current ratio of 0.97, a quick ratio of 0.76 and a debt-to-equity ratio of 0.16. The business’s fifty day simple moving average is $17.95 and its two-hundred day simple moving average is $19.91. Coupang, Inc. has a 12 month low of $14.92 and a 12 month high of $34.08. The company has a market capitalization of $33.87 billion, a price-to-earnings ratio of -209.60 and a beta of 1.12.

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

Analyst Ratings Changes

Several equities research analysts recently weighed in on CPNG shares. Sanford C. Bernstein restated an “underperform” rating on shares of Coupang in a research report on Monday, March 2nd. Nomura dropped their price target on Coupang from $22.00 to $20.00 and set a “neutral” rating on the stock in a research report on Monday, March 2nd. Deutsche Bank Aktiengesellschaft lowered Coupang from a “buy” rating to a “hold” rating and set a $23.00 price target on the stock. in a research report on Wednesday, May 6th. Mizuho dropped their price target on Coupang from $32.00 to $25.00 and set a “neutral” rating on the stock in a research report on Friday, February 27th. Finally, Morgan Stanley dropped their price target on Coupang from $31.00 to $29.00 and set an “overweight” rating on the stock in a research report on Monday, March 2nd. Five analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $26.65.

Coupang Company Profile

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.