Main Street Financial Solutions LLC Sells 70,015 Shares of Coupang, Inc. $CPNG

Main Street Financial Solutions LLC cut its holdings in shares of Coupang, Inc. (NYSE:CPNG) by 12.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 510,590 shares of the company’s stock after selling 70,015 shares during the quarter. Coupang makes up about 0.9% of Main Street Financial Solutions LLC’s investment portfolio, making the stock its 23rd biggest position. Main Street Financial Solutions LLC’s holdings in Coupang were worth $12,045,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of CPNG. Sunbelt Securities Inc. purchased a new position in Coupang during the third quarter valued at $26,000. Fifth Third Bancorp grew its stake in 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 acquiring an additional 1,000 shares in the last quarter. Aster Capital Management DIFC Ltd purchased a new position in Coupang during the fourth quarter valued at $42,000. EFG International AG purchased a new position in Coupang during the fourth quarter valued at $44,000. Finally, Colonial Trust Advisors purchased a new position in Coupang during the third quarter valued at $48,000. 83.72% of the stock is owned by institutional investors.

Coupang Price Performance

NYSE:CPNG 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 company has a market capitalization of $33.87 billion, a P/E ratio of -209.60 and a beta of 1.12. Coupang, Inc. has a 12 month low of $14.92 and a 12 month high of $34.08. The business’s 50-day moving average is $17.95 and its 200 day moving average is $19.91.

Coupang (NYSE:CPNG) last posted its earnings results on Tuesday, May 5th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $8.50 billion during the quarter, compared to analysts’ expectations of $8.48 billion. During the same quarter in the prior year, the firm posted $0.06 earnings per share. Coupang’s quarterly revenue was up 7.5% on a year-over-year basis. On average, equities research analysts forecast that Coupang, Inc. will post -0.17 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on CPNG shares. Sanford C. Bernstein reiterated an “underperform” rating on shares of Coupang in a research report on Monday, March 2nd. Barclays boosted their target price on Coupang from $24.00 to $30.00 and gave the stock an “overweight” rating in a research report on Thursday, April 23rd. Deutsche Bank Aktiengesellschaft downgraded Coupang from a “buy” rating to a “hold” rating and set a $23.00 target price on the stock. in a research report on Wednesday, May 6th. CLSA started coverage on Coupang in a research report on Monday. They issued an “outperform” rating and a $24.00 target price on the stock. Finally, Mizuho decreased their target price on Coupang from $32.00 to $25.00 and set a “neutral” rating on the stock in a research report on Friday, February 27th. Five research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Coupang presently has an average rating of “Hold” and an average price target of $26.65.

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.