Bamco Inc. NY Lowers Stock Holdings in Coupang, Inc. $CPNG

Bamco Inc. NY lowered its holdings in Coupang, Inc. (NYSE:CPNG) by 0.7% in the fourth quarter, Holdings Channel.com reports. The firm owned 4,274,350 shares of the company’s stock after selling 31,545 shares during the period. Bamco Inc. NY’s holdings in Coupang were worth $100,832,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Sunbelt Securities Inc. acquired a new position in Coupang in the third quarter valued at $26,000. Fifth Third Bancorp boosted its holdings in Coupang by 1,250.0% in the third quarter. Fifth Third Bancorp now owns 1,080 shares of the company’s stock valued at $35,000 after acquiring an additional 1,000 shares during the last quarter. Aster Capital Management DIFC Ltd acquired a new position in Coupang in the fourth quarter valued at $42,000. EFG International AG acquired a new position in Coupang in the fourth quarter valued at $44,000. Finally, Colonial Trust Advisors acquired a new position in Coupang in the third quarter valued at $48,000. Institutional investors and hedge funds own 83.72% of the company’s stock.

Coupang Trading Up 4.6%

Shares of CPNG opened at $18.87 on Thursday. The stock’s 50-day moving average is $17.95 and its two-hundred day moving average is $19.91. The stock has a market cap of $33.87 billion, a PE ratio of -209.60 and a beta of 1.12. Coupang, Inc. has a 12 month low of $14.92 and a 12 month high of $34.08. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.97 and a quick ratio of 0.76.

Coupang (NYSE:CPNG) last issued its quarterly earnings data on Tuesday, May 5th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.06). The company had revenue of $8.50 billion for the quarter, compared to analyst estimates of $8.48 billion. Coupang had a negative return on equity of 3.67% and a negative net margin of 0.47%.The company’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.06 EPS. Equities analysts forecast that Coupang, Inc. will post -0.17 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on CPNG shares. Barclays lifted their target price on Coupang from $24.00 to $30.00 and gave the company an “overweight” rating in a report on Thursday, April 23rd. Mizuho reduced their target price on Coupang from $32.00 to $25.00 and set a “neutral” rating on the stock in a report on Friday, February 27th. Nomura reduced their target price on Coupang from $22.00 to $20.00 and set a “neutral” rating on the stock in a report on Monday, March 2nd. CLSA started coverage on Coupang in a report on Monday. They issued an “outperform” rating and a $24.00 target price on the stock. Finally, Wall Street Zen cut Coupang from a “hold” rating to a “strong sell” rating in a report on Saturday, March 14th. Five investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $26.65.

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.