Sei Investments Co. Raises Stake in Coupang, Inc. $CPNG

Sei Investments Co. boosted its stake in shares of Coupang, Inc. (NYSE:CPNG) by 86.0% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,573,682 shares of the company’s stock after buying an additional 1,652,492 shares during the quarter. Sei Investments Co.’s holdings in Coupang were worth $67,471,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Lido Advisors LLC bought a new stake in Coupang in the first quarter worth about $262,000. State of Wyoming increased its stake in shares of Coupang by 78.7% during the 1st quarter. State of Wyoming now owns 120,287 shares of the company’s stock worth $2,271,000 after purchasing an additional 52,987 shares during the last quarter. Coronation Fund Managers Ltd. increased its stake in shares of Coupang by 98.3% during the 1st quarter. Coronation Fund Managers Ltd. now owns 11,771,286 shares of the company’s stock worth $222,242,000 after purchasing an additional 5,835,072 shares during the last quarter. NewEdge Wealth LLC raised its holdings in shares of Coupang by 5.2% in the 1st quarter. NewEdge Wealth LLC now owns 16,917 shares of the company’s stock worth $319,000 after purchasing an additional 840 shares during the period. Finally, IVY Lane Capital Management LLC bought a new stake in shares of Coupang in the 1st quarter worth approximately $1,510,000. Hedge funds and other institutional investors own 83.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on CPNG shares. Weiss Ratings lowered Coupang from a “sell (d+)” rating to a “sell (d)” rating in a report on Thursday, May 7th. Deutsche Bank Aktiengesellschaft lowered Coupang from a “buy” rating to a “hold” rating and set a $23.00 target price on the stock. in a research note on Wednesday, May 6th. Bank of America cut their price objective on shares of Coupang from $28.00 to $27.00 and set a “buy” rating for the company in a report on Wednesday, June 24th. CLSA began coverage on Coupang in a research report on Monday, June 15th. They set an “outperform” rating and a $24.00 target price on the stock. Finally, Citigroup downgraded Coupang from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $23.00 to $22.20 in a research report on Wednesday, May 6th. Five equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $26.02.

Coupang Trading Down 0.7%

Shares of Coupang stock opened at $15.52 on Friday. The company’s 50-day moving average price is $16.98 and its 200-day moving average price is $18.58. The company has a current ratio of 0.97, a quick ratio of 0.76 and a debt-to-equity ratio of 0.16. Coupang, Inc. has a 12-month low of $14.92 and a 12-month high of $34.08. The company has a market cap of $27.85 billion, a price-to-earnings ratio of -172.38 and a beta of 1.11.

Coupang (NYSE:CPNG) last issued its quarterly earnings data on Tuesday, May 5th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.06). The firm 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%. Coupang’s revenue was up 7.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.06 EPS. On average, equities analysts expect that Coupang, Inc. will post -0.33 earnings per share for the current fiscal year.

About Coupang

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.