Bamco Inc. NY Reduces Stake in Coupang, Inc. $CPNG

Bamco Inc. NY reduced its position in Coupang, Inc. (NYSE:CPNG) by 0.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,274,350 shares of the company’s stock after selling 31,545 shares during the period. Bamco Inc. NY owned about 0.23% of Coupang worth $100,832,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of CPNG. Sunbelt Securities Inc. purchased a new position in Coupang in the 3rd quarter valued at approximately $26,000. Fifth Third Bancorp increased its stake in Coupang by 1,250.0% in the 3rd 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 purchased a new position in Coupang in the 4th quarter valued at approximately $42,000. EFG International AG purchased a new position in Coupang in the 4th quarter valued at approximately $44,000. Finally, Colonial Trust Advisors purchased a new position in Coupang in the 3rd quarter valued at approximately $48,000. 83.72% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Mizuho dropped their price objective on Coupang from $32.00 to $25.00 and set a “neutral” rating for the company in a research note on Friday, February 27th. Barclays raised their price objective on Coupang from $24.00 to $30.00 and gave the company an “overweight” rating in a research note on Thursday, April 23rd. Sanford C. Bernstein reissued an “underperform” rating on shares of Coupang in a research report on Monday, March 2nd. Deutsche Bank Aktiengesellschaft cut Coupang from a “buy” rating to a “hold” rating and set a $23.00 price target for the company. in a report on Wednesday, May 6th. Finally, Weiss Ratings lowered Coupang from a “sell (d+)” rating to a “sell (d)” rating in a research note on Thursday, May 7th. 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $26.65.

Coupang Price Performance

Shares of NYSE:CPNG opened at $18.87 on Thursday. The company has a market cap of $33.87 billion, a P/E ratio of -209.60 and a beta of 1.12. The company has a quick ratio of 0.76, a current ratio of 0.97 and a debt-to-equity ratio of 0.16. Coupang, Inc. has a 52 week low of $14.92 and a 52 week high of $34.08. The business has a fifty day simple moving average of $17.95 and a 200-day simple moving average of $19.91.

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

Coupang 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.