Thompson Siegel & Walmsley LLC Acquires New Stake in Coupang, Inc. $CPNG

Thompson Siegel & Walmsley LLC bought a new stake in Coupang, Inc. (NYSE:CPNG) in the 4th quarter, HoldingsChannel reports. The firm bought 35,000 shares of the company’s stock, valued at approximately $826,000.

Several other large investors also recently added to or reduced their stakes in CPNG. EverSource Wealth Advisors LLC grew its holdings in Coupang by 72.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,316 shares of the company’s stock valued at $99,000 after buying an additional 1,395 shares in the last quarter. Baird Financial Group Inc. grew its holdings in Coupang by 52.8% in the 2nd quarter. Baird Financial Group Inc. now owns 23,471 shares of the company’s stock valued at $703,000 after buying an additional 8,107 shares in the last quarter. Cerity Partners LLC grew its holdings in Coupang by 48.1% in the 2nd quarter. Cerity Partners LLC now owns 45,252 shares of the company’s stock valued at $1,356,000 after buying an additional 14,703 shares in the last quarter. State Street Corp grew its holdings in Coupang by 8.4% in the 2nd quarter. State Street Corp now owns 15,641,775 shares of the company’s stock valued at $468,628,000 after buying an additional 1,210,801 shares in the last quarter. Finally, AXA S.A. purchased a new stake in Coupang in the 2nd quarter valued at $411,000. 83.72% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on the company. Wall Street Zen cut Coupang from a “hold” rating to a “strong sell” rating in a report on Saturday, March 14th. Morgan Stanley dropped their target price on Coupang from $31.00 to $29.00 and set an “overweight” rating for the company in a report on Monday, March 2nd. Nomura lowered their price target on Coupang from $22.00 to $20.00 and set a “neutral” rating for the company in a report on Monday, March 2nd. Deutsche Bank Aktiengesellschaft cut Coupang from a “buy” rating to a “hold” rating and set a $23.00 price target for the company. in a report on Wednesday, May 6th. Finally, Weiss Ratings cut Coupang from a “sell (d+)” rating to a “sell (d)” rating in a report on Thursday, May 7th. Four investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Coupang presently has an average rating of “Hold” and an average price target of $26.92.

Insiders Place Their Bets

In other news, Director Neil Mehta bought 2,332,863 shares of Coupang stock in a transaction that occurred on Friday, March 13th. The shares were purchased at an average price of $18.40 per share, with a total value of $42,924,679.20. Following the completion of the acquisition, the director directly owned 55,310,977 shares in the company, valued at $1,017,721,976.80. The trade was a 4.40% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have purchased a total of 7,350,104 shares of company stock valued at $136,566,051 over the last 90 days. 12.83% of the stock is owned by company insiders.

Coupang Stock Performance

Shares of Coupang stock opened at $16.71 on Wednesday. The business has a 50-day moving average of $18.47 and a 200 day moving average of $20.85. Coupang, Inc. has a 12 month low of $15.03 and a 12 month high of $34.08. The stock has a market capitalization of $29.99 billion, a price-to-earnings ratio of -185.59 and a beta of 1.12. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.97 and a quick ratio of 0.76.

Coupang (NYSE:CPNG) last announced its earnings results on Tuesday, May 5th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates 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%. The business’s revenue was up 7.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.06 earnings per share. As a group, sell-side analysts forecast that Coupang, Inc. will post -0.17 earnings per share for the current 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.