Janney Montgomery Scott LLC Makes New $9.49 Million Investment in Coupang, Inc. $CPNG

Janney Montgomery Scott LLC acquired a new stake in shares of Coupang, Inc. (NYSE:CPNG) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 502,649 shares of the company’s stock, valued at approximately $9,490,000.

Other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new position in Coupang during the 4th quarter valued at approximately $498,333,000. Assenagon Asset Management S.A. raised its holdings in shares of Coupang by 1,394.1% during the 1st quarter. Assenagon Asset Management S.A. now owns 17,117,583 shares of the company’s stock worth $323,180,000 after acquiring an additional 15,971,942 shares in the last quarter. Tiger Global Management LLC raised its holdings in shares of Coupang by 65.9% during the 4th quarter. Tiger Global Management LLC now owns 26,267,259 shares of the company’s stock worth $619,645,000 after acquiring an additional 10,429,680 shares in the last quarter. Capital International Investors boosted its position in shares of Coupang by 20.4% during the 4th quarter. Capital International Investors now owns 41,131,036 shares of the company’s stock valued at $970,340,000 after acquiring an additional 6,977,942 shares during the last quarter. Finally, Dragoneer Investment Group LLC boosted its position in shares of Coupang by 47.1% during the 4th quarter. Dragoneer Investment Group LLC now owns 21,576,556 shares of the company’s stock valued at $508,991,000 after acquiring an additional 6,910,865 shares during the last quarter. Hedge funds and other institutional investors own 83.72% of the company’s stock.

Coupang Trading Up 2.3%

Shares of NYSE CPNG opened at $18.54 on Friday. Coupang, Inc. has a twelve month low of $14.92 and a twelve month high of $34.08. The firm has a market cap of $33.28 billion, a PE ratio of -205.99 and a beta of 1.11. The business has a fifty day simple moving average of $17.33 and a two-hundred day simple moving average of $19.21. 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 (NYSE:CPNG) last posted its quarterly earnings results on Tuesday, May 5th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 previous year, the company posted $0.06 EPS. Analysts expect that Coupang, Inc. will post -0.25 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on CPNG shares. Wall Street Zen cut shares of Coupang from a “hold” rating to a “strong sell” rating in a research report on Saturday, March 14th. Barclays increased their price objective on shares of Coupang from $24.00 to $30.00 and gave the company an “overweight” rating in a research report on Thursday, April 23rd. Deutsche Bank Aktiengesellschaft cut shares of 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. Weiss Ratings downgraded shares of Coupang from a “sell (d+)” rating to a “sell (d)” rating in a report on Thursday, May 7th. Finally, Citigroup cut shares of Coupang from a “buy” rating to a “neutral” rating and decreased their target price for the company from $23.00 to $22.20 in a research report on Wednesday, May 6th. Five investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Coupang has a consensus rating of “Hold” and a consensus target price of $25.65.

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.