Ramirez Asset Management Inc. Buys 59,976 Shares of Coupang, Inc. $CPNG

Ramirez Asset Management Inc. lifted its stake in Coupang, Inc. (NYSE:CPNG) by 33.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 240,142 shares of the company’s stock after acquiring an additional 59,976 shares during the period. Ramirez Asset Management Inc.’s holdings in Coupang were worth $5,665,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in CPNG. EverSource Wealth Advisors LLC boosted its holdings in shares of Coupang by 72.6% in the second quarter. EverSource Wealth Advisors LLC now owns 3,316 shares of the company’s stock worth $99,000 after acquiring an additional 1,395 shares during the period. Baird Financial Group Inc. boosted its stake in Coupang by 52.8% during the second quarter. Baird Financial Group Inc. now owns 23,471 shares of the company’s stock valued at $703,000 after buying an additional 8,107 shares during the period. Cerity Partners LLC boosted its stake in Coupang by 48.1% during the second quarter. Cerity Partners LLC now owns 45,252 shares of the company’s stock valued at $1,356,000 after buying an additional 14,703 shares during the period. State Street Corp boosted its stake in Coupang by 8.4% during the second quarter. State Street Corp now owns 15,641,775 shares of the company’s stock valued at $468,628,000 after buying an additional 1,210,801 shares during the period. Finally, AXA S.A. bought a new stake in Coupang during the second quarter valued at $411,000. 83.72% of the stock is owned by institutional investors.

Coupang Trading Down 7.1%

Shares of CPNG stock opened at $15.36 on Friday. The company has a quick ratio of 0.76, a current ratio of 0.97 and a debt-to-equity ratio of 0.16. The business has a 50-day moving average price of $18.26 and a two-hundred day moving average price of $20.56. Coupang, Inc. has a 12-month low of $15.03 and a 12-month high of $34.08. The firm has a market cap of $27.56 billion, a P/E ratio of -170.59 and a beta of 1.12.

Coupang (NYSE:CPNG) last issued its quarterly earnings results on Tuesday, May 5th. The company reported ($0.15) earnings per share (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 firm had revenue of $8.50 billion for the quarter, compared to the consensus estimate of $8.48 billion. During the same period last year, the firm earned $0.06 EPS. The company’s revenue for the quarter was up 7.5% on a year-over-year basis. Equities analysts anticipate that Coupang, Inc. will post -0.17 EPS for the current fiscal year.

Insider Transactions at Coupang

In other news, Director Neil Mehta purchased 2,332,863 shares of the company’s stock in a transaction on Friday, March 13th. The stock was purchased at an average price of $18.40 per share, with a total value of $42,924,679.20. Following the completion of the purchase, the director directly owned 55,310,977 shares in the company, valued at approximately $1,017,721,976.80. This trade represents a 4.40% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders bought a total of 7,350,104 shares of company stock worth $136,566,051 over the last three months. Insiders own 12.83% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on CPNG. Sanford C. Bernstein reissued an “underperform” rating on shares of Coupang in a research note on Monday, March 2nd. Wall Street Zen lowered Coupang from a “hold” rating to a “strong sell” rating in a research note on Saturday, March 14th. Barclays lifted 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. Deutsche Bank Aktiengesellschaft lowered Coupang from a “buy” rating to a “hold” rating and set a $23.00 price objective for the company. in a research note 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. Four research 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, Coupang has an average rating of “Hold” and a consensus price target of $26.92.

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.