K.J. Harrison & Partners Inc Takes $950,000 Position in Coupang, Inc. $CPNG

K.J. Harrison & Partners Inc bought a new stake in Coupang, Inc. (NYSE:CPNG) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 50,300 shares of the company’s stock, valued at approximately $950,000.

Several other institutional investors and hedge funds have also bought and sold shares of CPNG. EverSource Wealth Advisors LLC raised its position in Coupang by 72.6% during the second quarter. EverSource Wealth Advisors LLC now owns 3,316 shares of the company’s stock worth $99,000 after acquiring an additional 1,395 shares in the last quarter. Baird Financial Group Inc. boosted its stake in shares of Coupang by 52.8% during the 2nd quarter. Baird Financial Group Inc. now owns 23,471 shares of the company’s stock worth $703,000 after acquiring an additional 8,107 shares during the period. Cerity Partners LLC increased its holdings in shares of Coupang by 48.1% during the 2nd quarter. Cerity Partners LLC now owns 45,252 shares of the company’s stock worth $1,356,000 after acquiring an additional 14,703 shares during the last quarter. State Street Corp increased its holdings in shares of Coupang by 8.4% during the 2nd quarter. State Street Corp now owns 15,641,775 shares of the company’s stock worth $468,628,000 after acquiring an additional 1,210,801 shares during the last quarter. Finally, AXA S.A. bought a new stake in Coupang in the 2nd quarter valued at $411,000. Institutional investors own 83.72% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on CPNG shares. Bank of America cut their price target on Coupang from $28.00 to $27.00 and set a “buy” rating for the company in a report on Wednesday, June 24th. Citigroup downgraded shares of Coupang from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $23.00 to $22.20 in a report on Wednesday, May 6th. Wall Street Zen lowered shares of Coupang from a “hold” rating to a “strong sell” rating in a research report on Saturday, March 14th. Barclays raised their target price on shares of Coupang from $24.00 to $30.00 and gave the stock an “overweight” rating in a research note on Thursday, April 23rd. Finally, Deutsche Bank Aktiengesellschaft downgraded 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. Five equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $25.65.

Coupang Price Performance

Shares of Coupang stock opened at $18.54 on Friday. 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, Inc. has a twelve month low of $14.92 and a twelve month high of $34.08. The company has a 50-day simple moving average of $17.29 and a two-hundred day simple moving average of $19.20. The stock has a market capitalization of $33.28 billion, a price-to-earnings ratio of -205.99 and a beta of 1.11.

Coupang (NYSE:CPNG) last issued its quarterly earnings results on Tuesday, May 5th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of $8.50 billion for the quarter, compared to analyst estimates of $8.48 billion. During the same period in the prior year, the company earned $0.06 EPS. The company’s quarterly revenue was up 7.5% compared to the same quarter last year. Analysts forecast that Coupang, Inc. will post -0.25 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.