LGT Fund Management Co Ltd. Purchases Shares of 75,549 Coupang, Inc. $CPNG

LGT Fund Management Co Ltd. purchased a new position in shares of Coupang, Inc. (NYSE:CPNG) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 75,549 shares of the company’s stock, valued at approximately $1,426,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Sunbelt Securities Inc. bought a new stake in Coupang in the third quarter worth $26,000. Reflection Asset Management bought a new position in shares of Coupang during the fourth quarter valued at about $28,000. Webster Bank N. A. grew its stake in shares of Coupang by 325.8% during the first quarter. Webster Bank N. A. now owns 1,699 shares of the company’s stock valued at $32,000 after buying an additional 1,300 shares during the last quarter. Aster Capital Management DIFC Ltd purchased a new position in shares of Coupang in the fourth quarter worth about $42,000. Finally, Root Financial Partners LLC increased its holdings in shares of Coupang by 68.5% in the first quarter. Root Financial Partners LLC now owns 2,265 shares of the company’s stock worth $43,000 after buying an additional 921 shares during the period. Institutional investors own 83.72% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on CPNG. Citigroup cut Coupang from a “buy” rating to a “neutral” rating and dropped their target price for the company from $23.00 to $22.20 in a report on Wednesday, May 6th. Bank of America decreased their price target on Coupang from $28.00 to $27.00 and set a “buy” rating on the stock in a research note on Wednesday, June 24th. The Goldman Sachs Group set a $31.00 price objective on Coupang in a research report on Thursday. Weiss Ratings lowered Coupang from a “sell (d+)” rating to a “sell (d)” rating in a research note on Thursday, May 7th. Finally, Deutsche Bank Aktiengesellschaft cut shares of Coupang from a “buy” rating to a “hold” rating and set a $23.00 target price on the stock. in a report on Wednesday, May 6th. Five equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $26.02.

Coupang Price Performance

Shares of CPNG stock opened at $18.80 on Monday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.76 and a current ratio of 0.97. Coupang, Inc. has a fifty-two week low of $14.92 and a fifty-two week high of $34.08. The firm has a market cap of $33.76 billion, a P/E ratio of -208.92 and a beta of 1.11. The business’s 50 day moving average price is $17.14 and its 200-day moving average price is $19.03.

Coupang (NYSE:CPNG) last announced 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). The business had revenue of $8.50 billion for the quarter, compared to the consensus estimate 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 was up 7.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.06 EPS. On average, equities research analysts anticipate that Coupang, Inc. will post -0.33 earnings per share for the current year.

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.