K.J. Harrison & Partners Inc Makes New Investment in Coupang, Inc. $CPNG

K.J. Harrison & Partners Inc acquired a new position in shares of Coupang, Inc. (NYSE:CPNG) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 50,300 shares of the company’s stock, valued at approximately $950,000.

Several other hedge funds also recently modified their holdings of CPNG. Sunbelt Securities Inc. acquired a new position in shares of Coupang in the 3rd quarter valued at $26,000. Reflection Asset Management bought a new stake in Coupang in the fourth quarter valued at about $28,000. LGT Financial Advisors LLC bought a new stake in Coupang in the third quarter valued at about $52,000. Webster Bank N. A. lifted its stake in Coupang by 325.8% in the first quarter. Webster Bank N. A. now owns 1,699 shares of the company’s stock valued at $32,000 after buying an additional 1,300 shares during the period. Finally, Aster Capital Management DIFC Ltd acquired a new position in Coupang in the fourth quarter valued at about $42,000. Institutional investors own 83.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Weiss Ratings lowered shares of Coupang from a “sell (d+)” rating to a “sell (d)” rating in a research note on Thursday, May 7th. 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 research note on Wednesday, May 6th. Citigroup cut shares of Coupang from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $23.00 to $22.20 in a research report on Wednesday, May 6th. Barclays boosted their price target on shares of Coupang from $24.00 to $30.00 and gave the company an “overweight” rating in a report on Thursday, April 23rd. Finally, Bank of America lowered their price objective on shares of Coupang from $28.00 to $27.00 and set a “buy” rating for the company in a research report on Wednesday, June 24th. Five equities research 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. According to MarketBeat, Coupang currently has a consensus rating of “Hold” and an average target price of $25.65.

Coupang Price Performance

CPNG stock opened at $18.54 on Friday. The stock has a 50-day moving average price of $17.29 and a two-hundred day moving average price of $19.20. Coupang, Inc. has a 1 year low of $14.92 and a 1 year high of $34.08. The stock has a market cap of $33.28 billion, a PE ratio of -205.99 and a beta of 1.11. 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 (NYSE:CPNG) last posted its quarterly earnings data 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). Coupang had a negative return on equity of 3.67% and a negative net margin of 0.47%.The firm 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 earnings per share. The firm’s quarterly revenue was up 7.5% on a year-over-year basis. Equities analysts forecast that Coupang, Inc. will post -0.25 EPS 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.