Edgestream Partners L.P. Buys 338,752 Shares of Coupang, Inc. $CPNG

Edgestream Partners L.P. lifted its position in Coupang, Inc. (NYSE:CPNG) by 2,790.4% during the first quarter, HoldingsChannel.com reports. The fund owned 350,892 shares of the company’s stock after purchasing an additional 338,752 shares during the period. Edgestream Partners L.P.’s holdings in Coupang were worth $6,625,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Sunbelt Securities Inc. acquired a new position in Coupang during the third quarter valued at approximately $26,000. Reflection Asset Management acquired a new stake in Coupang in the fourth quarter worth $28,000. Webster Bank N. A. raised its holdings in Coupang by 325.8% in the first quarter. Webster Bank N. A. now owns 1,699 shares of the company’s stock worth $32,000 after purchasing an additional 1,300 shares during the period. Main Street Group LTD bought a new stake in shares of Coupang in the 1st quarter valued at $40,000. Finally, Aster Capital Management DIFC Ltd bought a new stake in shares of Coupang in the 4th quarter valued at $42,000. 83.72% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CPNG has been the topic of several recent analyst reports. The Goldman Sachs Group set a $31.00 target price on Coupang in a report on Thursday, July 9th. Barclays reaffirmed an “overweight” rating and set a $29.00 price target on shares of Coupang in a research report on Tuesday, July 7th. Deutsche Bank Aktiengesellschaft cut Coupang from a “buy” rating to a “hold” rating and set a $23.00 price objective on the stock. in a report on Wednesday, May 6th. Weiss Ratings lowered Coupang from a “sell (d+)” rating to a “sell (d)” rating in a research report on Thursday, May 7th. Finally, Bank of America lowered their target price on Coupang from $28.00 to $27.00 and set a “buy” rating for the company in a research note on Wednesday, June 24th. 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 MarketBeat.com, Coupang currently has an average rating of “Hold” and a consensus target price of $25.93.

Coupang Trading Up 6.4%

Shares of Coupang stock opened at $16.14 on Friday. The stock has a market cap of $28.96 billion, a P/E ratio of -179.26 and a beta of 1.11. 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 12-month low of $14.92 and a 12-month high of $34.08. The business’s 50 day moving average is $16.99 and its 200-day moving average is $18.34.

Coupang (NYSE:CPNG) last released its earnings results on Tuesday, May 5th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.06). The firm had revenue of $8.50 billion during the quarter, compared to the consensus estimate of $8.48 billion. Coupang had a negative net margin of 0.47% and a negative return on equity of 3.67%. Coupang’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.06 earnings per share. Equities research analysts predict that Coupang, Inc. will post -0.33 earnings per share for the current fiscal year.

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.