Prospera Financial Services Inc boosted its holdings in Coupang, Inc. (NYSE:CPNG – Get Rating) by 39.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,521 shares of the company's stock after acquiring an additional 6,326 shares during the quarter. Prospera Financial Services Inc's holdings in Coupang were worth $287,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Pinebridge Investments L.P. increased its stake in Coupang by 1,125.5% in the second quarter. Pinebridge Investments L.P. now owns 2,451 shares of the company's stock valued at $31,000 after acquiring an additional 2,251 shares during the period. Altfest L J & Co. Inc. boosted its position in Coupang by 56.8% in the second quarter. Altfest L J & Co. Inc. now owns 20,379 shares of the company's stock valued at $260,000 after buying an additional 7,385 shares in the last quarter. TD Asset Management Inc. boosted its position in Coupang by 17.7% in the second quarter. TD Asset Management Inc. now owns 47,992 shares of the company's stock valued at $612,000 after buying an additional 7,228 shares in the last quarter. CIBC Private Wealth Group LLC boosted its position in Coupang by 75.6% in the second quarter. CIBC Private Wealth Group LLC now owns 76,117 shares of the company's stock valued at $970,000 after buying an additional 32,770 shares in the last quarter. Finally, Handelsbanken Fonder AB boosted its position in Coupang by 55.6% in the second quarter. Handelsbanken Fonder AB now owns 135,985 shares of the company's stock valued at $1,734,000 after buying an additional 48,585 shares in the last quarter. Institutional investors own 71.59% of the company's stock.
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Wall Street Analyst Weigh In
A number of research firms have commented on CPNG. CLSA lowered shares of Coupang from an "outperform" rating to a "sell" rating and set a $16.40 price target on the stock. in a research report on Tuesday, August 16th. Mizuho reduced their price target on shares of Coupang from $22.00 to $20.00 and set a "neutral" rating on the stock in a research report on Thursday. HSBC began coverage on shares of Coupang in a research report on Friday, October 7th. They issued a "buy" rating and a $27.80 price target on the stock. Deutsche Bank Aktiengesellschaft lowered shares of Coupang from a "buy" rating to a "hold" rating and upped their target price for the stock from $15.00 to $18.50 in a research report on Thursday, August 11th. Finally, Macquarie began coverage on shares of Coupang in a research report on Tuesday, August 9th. They set an "outperform" rating and a $26.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $22.37.
Coupang Trading Down 4.2 %
Shares of NYSE CPNG opened at $19.14 on Friday. The company's 50 day simple moving average is $17.44 and its 200 day simple moving average is $15.74. Coupang, Inc. has a fifty-two week low of $8.98 and a fifty-two week high of $30.65. The firm has a market capitalization of $33.81 billion, a P/E ratio of -56.29 and a beta of 1.02. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.21 and a quick ratio of 0.87.
Coupang (NYSE:CPNG – Get Rating) last announced its quarterly earnings data on Wednesday, August 10th. The company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.11) by $0.07. Coupang had a negative net margin of 2.95% and a negative return on equity of 28.61%. The business had revenue of $5.04 billion for the quarter, compared to analyst estimates of $5.22 billion. During the same period in the prior year, the business posted ($0.13) earnings per share. Coupang's revenue was up 12.5% compared to the same quarter last year. On average, analysts predict that Coupang, Inc. will post -0.2 EPS for the current year.
Coupang Company Profile
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Coupang, Inc owns and operates in e-commerce business through its mobile applications and Internet websites primarily in South Korea. It operates through two segments, Product Commerce and Growth Initiatives. The company sells various products and services in the categories of home goods and décor products, apparel, beauty products, fresh food and groceries, sporting goods, electronics, and everyday consumables, as well as travel, and restaurant order and delivery services.
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