Main Street Financial Solutions LLC Sells 70,015 Shares of Coupang, Inc. $CPNG

Main Street Financial Solutions LLC reduced its stake in shares of Coupang, Inc. (NYSE:CPNG) by 12.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 510,590 shares of the company’s stock after selling 70,015 shares during the quarter. Coupang comprises about 0.9% of Main Street Financial Solutions LLC’s investment portfolio, making the stock its 23rd biggest position. Main Street Financial Solutions LLC’s holdings in Coupang were worth $12,045,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. Sunbelt Securities Inc. bought a new stake in Coupang during the third quarter worth approximately $26,000. Fifth Third Bancorp increased its stake in Coupang by 1,250.0% during the third quarter. Fifth Third Bancorp now owns 1,080 shares of the company’s stock worth $35,000 after acquiring an additional 1,000 shares during the last quarter. Aster Capital Management DIFC Ltd bought a new stake in Coupang during the fourth quarter worth approximately $42,000. EFG International AG bought a new position in shares of Coupang during the fourth quarter valued at approximately $44,000. Finally, Colonial Trust Advisors bought a new position in shares of Coupang during the third quarter valued at approximately $48,000. 83.72% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CPNG has been the topic of a number of analyst reports. Citigroup cut Coupang from a “buy” rating to a “neutral” rating and cut their target price for the company from $23.00 to $22.20 in a research note on Wednesday, May 6th. Mizuho cut their target price on Coupang from $32.00 to $25.00 and set a “neutral” rating on the stock in a research note on Friday, February 27th. Barclays upped their target price on Coupang from $24.00 to $30.00 and gave the company an “overweight” rating in a research note on Thursday, April 23rd. Nomura cut their target price on Coupang from $22.00 to $20.00 and set a “neutral” rating on the stock in a research note on Monday, March 2nd. Finally, Morgan Stanley cut their target price on Coupang from $31.00 to $29.00 and set an “overweight” rating on the stock in a research note on Monday, March 2nd. Five analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $26.65.

Coupang Trading Up 4.6%

CPNG opened at $18.87 on Thursday. Coupang, Inc. has a one year low of $14.92 and a one year high of $34.08. The stock has a market cap of $33.87 billion, a price-to-earnings ratio of -209.60 and a beta of 1.12. The stock’s 50 day moving average price is $17.95 and its 200-day moving average price is $19.91. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.76 and a current ratio of 0.97.

Coupang (NYSE:CPNG) last announced its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $8.48 billion. During the same period last year, the company earned $0.06 EPS. The firm’s revenue for the quarter was up 7.5% compared to the same quarter last year. On average, equities analysts forecast that Coupang, Inc. will post -0.17 EPS for the current year.

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.