LGT Fund Management Co Ltd. Invests $1.43 Million in Coupang, Inc. $CPNG

LGT Fund Management Co Ltd. bought a new stake in Coupang, Inc. (NYSE:CPNG) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 75,549 shares of the company’s stock, valued at approximately $1,426,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. 180 Wealth Advisors LLC raised its holdings in Coupang by 20.6% in the first quarter. 180 Wealth Advisors LLC now owns 35,562 shares of the company’s stock worth $671,000 after purchasing an additional 6,084 shares in the last quarter. Fifth Third Bancorp boosted its holdings in shares of Coupang by 873.8% during the 1st quarter. Fifth Third Bancorp now owns 10,799 shares of the company’s stock valued at $204,000 after buying an additional 9,690 shares in the last quarter. Sequoia Financial Advisors LLC grew its position in shares of Coupang by 26.7% in the 1st quarter. Sequoia Financial Advisors LLC now owns 75,868 shares of the company’s stock worth $1,432,000 after buying an additional 15,970 shares during the period. Kestra Advisory Services LLC grew its position in shares of Coupang by 18.1% in the 1st quarter. Kestra Advisory Services LLC now owns 53,466 shares of the company’s stock worth $1,009,000 after buying an additional 8,179 shares during the period. Finally, Azzad Asset Management Inc. ADV increased its stake in shares of Coupang by 11.5% in the 1st quarter. Azzad Asset Management Inc. ADV now owns 61,957 shares of the company’s stock worth $1,170,000 after acquiring an additional 6,390 shares in the last quarter. Hedge funds and other institutional investors own 83.72% of the company’s stock.

Coupang Price Performance

Shares of NYSE CPNG opened at $18.80 on Monday. 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 $33.76 billion, a P/E ratio of -208.92 and a beta of 1.11. The company has a 50 day moving average of $17.14 and a 200 day moving average of $19.03. 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 issued 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 business had revenue of $8.50 billion for the quarter, compared to analysts’ expectations of $8.48 billion. Coupang had a negative net margin of 0.47% and a negative return on equity of 3.67%. The business’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.06 earnings per share. As a group, research analysts expect that Coupang, Inc. will post -0.33 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Citigroup cut shares of Coupang from a “buy” rating to a “neutral” rating and lowered their price target for the company from $23.00 to $22.20 in a research report on Wednesday, May 6th. CLSA began coverage on shares of Coupang in a research note on Monday, June 15th. They set an “outperform” rating and a $24.00 target price for the company. Deutsche Bank Aktiengesellschaft lowered shares of Coupang from a “buy” rating to a “hold” rating and set a $23.00 target price for the company. in a report on Wednesday, May 6th. The Goldman Sachs Group set a $31.00 price target on Coupang in a research note on Thursday. Finally, Weiss Ratings lowered Coupang from a “sell (d+)” rating to a “sell (d)” rating in a research report on Thursday, May 7th. Five analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $26.02.

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.