Sei Investments Co. Has $67.47 Million Position in Coupang, Inc. $CPNG

Sei Investments Co. raised its holdings in Coupang, Inc. (NYSE:CPNG) by 86.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,573,682 shares of the company’s stock after buying an additional 1,652,492 shares during the period. Sei Investments Co. owned about 0.20% of Coupang worth $67,471,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in CPNG. Sunbelt Securities Inc. acquired a new stake in shares of Coupang in the 3rd quarter worth about $26,000. Reflection Asset Management bought a new position in Coupang in the 4th quarter valued at about $28,000. Webster Bank N. A. boosted its stake in Coupang by 325.8% during the 1st quarter. Webster Bank N. A. now owns 1,699 shares of the company’s stock valued at $32,000 after purchasing an additional 1,300 shares during the last quarter. Main Street Group LTD acquired a new position in Coupang during the 1st quarter valued at about $40,000. Finally, Aster Capital Management DIFC Ltd bought a new stake in Coupang during the 4th quarter worth approximately $42,000. 83.72% of the stock is currently owned by institutional investors and hedge funds.

Coupang Trading Down 0.7%

NYSE:CPNG opened at $15.52 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.76 and a current ratio of 0.97. The firm has a market cap of $27.85 billion, a price-to-earnings ratio of -172.38 and a beta of 1.11. Coupang, Inc. has a 52 week low of $14.92 and a 52 week high of $34.08. The firm has a 50-day moving average price of $16.98 and a two-hundred day moving average price of $18.58.

Coupang (NYSE:CPNG) last posted 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). The firm had revenue of $8.50 billion for the quarter, compared to the consensus estimate of $8.48 billion. Coupang had a negative return on equity of 3.67% and a negative net margin of 0.47%.Coupang’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.06 EPS. On average, equities analysts expect that Coupang, Inc. will post -0.33 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently commented on the company. Weiss Ratings downgraded Coupang from a “sell (d+)” rating to a “sell (d)” rating in a research note on Thursday, May 7th. CLSA initiated coverage on Coupang in a research report on Monday, June 15th. They set an “outperform” rating and a $24.00 target price on the stock. The Goldman Sachs Group set a $31.00 price target on Coupang in a report on Thursday, July 9th. Barclays reissued an “overweight” rating and issued a $29.00 price target on shares of Coupang in a research report on Tuesday, July 7th. Finally, Bank of America dropped their price objective on Coupang from $28.00 to $27.00 and set a “buy” rating on the stock in a research note on Wednesday, June 24th. Five research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Coupang has an average rating of “Hold” and an average price target of $26.02.

About Coupang

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.