SG Americas Securities LLC Purchases 978,937 Shares of Coupang, Inc. $CPNG

SG Americas Securities LLC increased its position in shares of Coupang, Inc. (NYSE:CPNG) by 10,004.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 988,722 shares of the company’s stock after acquiring an additional 978,937 shares during the quarter. SG Americas Securities LLC owned about 0.05% of Coupang worth $23,324,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Creative Planning lifted its position in Coupang by 24.1% during the 2nd quarter. Creative Planning now owns 22,158 shares of the company’s stock valued at $664,000 after purchasing an additional 4,308 shares during the period. Cetera Investment Advisers grew its position in shares of Coupang by 8.7% during the 2nd quarter. Cetera Investment Advisers now owns 91,969 shares of the company’s stock worth $2,755,000 after buying an additional 7,363 shares during the period. Steward Partners Investment Advisory LLC grew its position in shares of Coupang by 80.1% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 4,547 shares of the company’s stock worth $136,000 after buying an additional 2,022 shares during the period. Choreo LLC raised its stake in shares of Coupang by 0.4% during the second quarter. Choreo LLC now owns 212,940 shares of the company’s stock worth $6,380,000 after buying an additional 917 shares during the last quarter. Finally, Elevation Point Wealth Partners LLC raised its stake in shares of Coupang by 3.8% during the second quarter. Elevation Point Wealth Partners LLC now owns 68,474 shares of the company’s stock worth $2,051,000 after buying an additional 2,498 shares during the last quarter. Institutional investors own 83.72% of the company’s stock.

Coupang Stock Down 2.1%

Shares of NYSE CPNG opened at $18.41 on Friday. The stock has a market cap of $33.66 billion, a P/E ratio of 153.46 and a beta of 1.20. The firm has a 50 day moving average price of $19.05 and a 200 day moving average price of $25.18. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.79 and a current ratio of 1.04. Coupang, Inc. has a 52-week low of $16.74 and a 52-week high of $34.08.

Coupang (NYSE:CPNG) last posted its earnings results on Thursday, February 26th. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.03). The firm had revenue of $8.84 billion during the quarter, compared to analyst estimates of $9.12 billion. Coupang had a return on equity of 4.52% and a net margin of 0.60%.The company’s revenue for the quarter was up 10.9% on a year-over-year basis. During the same quarter last year, the business posted $0.04 earnings per share. Analysts expect that Coupang, Inc. will post 0.17 EPS for the current year.

Insiders Place Their Bets

In other Coupang news, Director Neil Mehta bought 2,332,863 shares of the firm’s stock in a transaction on Friday, March 13th. The stock was purchased at an average cost of $18.40 per share, with a total value of $42,924,679.20. Following the completion of the purchase, the director owned 55,310,977 shares in the company, valued at approximately $1,017,721,976.80. The trade was a 4.40% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Jonathan D. Lee sold 2,679 shares of the business’s stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $23.62, for a total value of $63,277.98. Following the completion of the transaction, the chief accounting officer directly owned 122,096 shares of the company’s stock, valued at approximately $2,883,907.52. The trade was a 2.15% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders purchased 7,350,104 shares of company stock valued at $136,566,051. 12.78% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

CPNG has been the topic of a number of recent research reports. Mizuho reduced their price objective on shares of Coupang from $32.00 to $25.00 and set a “neutral” rating on the stock in a research note on Friday, February 27th. UBS Group set a $25.00 target price on shares of Coupang in a research report on Thursday, February 19th. Wall Street Zen lowered Coupang from a “hold” rating to a “strong sell” rating in a research report on Saturday, March 14th. Sanford C. Bernstein reaffirmed an “underperform” rating on shares of Coupang in a research note on Monday, March 2nd. Finally, Barclays upped their price objective on Coupang from $23.00 to $24.00 and gave the company an “overweight” rating in a report on Monday, March 2nd. Six equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $26.70.

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.