SG Americas Securities LLC Acquires 978,937 Shares of Coupang, Inc. $CPNG

SG Americas Securities LLC raised its stake in Coupang, Inc. (NYSE:CPNG) by 10,004.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 988,722 shares of the company’s stock after buying an additional 978,937 shares during the quarter. SG Americas Securities LLC’s holdings in Coupang were worth $23,324,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Sunbelt Securities Inc. acquired a new stake in shares of Coupang during the third quarter worth $26,000. Orion Capital Management LLC acquired a new position in Coupang in the 3rd quarter worth $32,000. Hilltop National Bank acquired a new position in Coupang in the 3rd quarter worth $34,000. Fifth Third Bancorp increased its holdings in Coupang by 1,250.0% during the 3rd quarter. Fifth Third Bancorp now owns 1,080 shares of the company’s stock worth $35,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Root Financial Partners LLC bought a new position in Coupang during the 3rd quarter worth about $40,000. Institutional investors and hedge funds own 83.72% of the company’s stock.

Coupang Trading Down 2.1%

Shares of NYSE:CPNG opened at $18.41 on Friday. The company’s 50-day moving average price is $19.05 and its two-hundred day moving average price is $25.18. Coupang, Inc. has a one year low of $16.74 and a one year high of $34.08. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.04 and a quick ratio of 0.79. The stock has a market capitalization of $33.66 billion, a PE ratio of 153.46 and a beta of 1.20.

Coupang (NYSE:CPNG) last announced its quarterly earnings data on Thursday, February 26th. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.03). The company had revenue of $8.84 billion during the quarter, compared to the consensus estimate of $9.12 billion. Coupang had a net margin of 0.60% and a return on equity of 4.52%. Coupang’s revenue was up 10.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.04 EPS. On average, equities analysts forecast that Coupang, Inc. will post 0.17 EPS for the current fiscal year.

Insider Activity at Coupang

In related news, Director Neil Mehta purchased 3,000,000 shares of the firm’s stock in a transaction on Thursday, March 12th. The stock was purchased at an average cost of $18.68 per share, for a total transaction of $56,040,000.00. Following the completion of the purchase, the director directly owned 52,978,114 shares in the company, valued at $989,631,169.52. This trade represents a 6.00% 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 hyperlink. Also, CAO Jonathan D. Lee sold 2,679 shares of the business’s stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $23.62, for a total value of $63,277.98. Following the transaction, the chief accounting officer directly owned 122,096 shares in the company, valued at $2,883,907.52. This trade represents a 2.15% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have purchased 7,350,104 shares of company stock valued at $136,566,051 over the last three months. Insiders own 12.78% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Mizuho cut their price target on Coupang from $32.00 to $25.00 and set a “neutral” rating on the stock in a report on Friday, February 27th. Wall Street Zen downgraded Coupang from a “hold” rating to a “strong sell” rating in a report on Saturday, March 14th. Citigroup dropped their target price on Coupang from $27.00 to $24.00 and set a “buy” rating on the stock in a research report on Tuesday, February 10th. Sanford C. Bernstein restated an “underperform” rating on shares of Coupang in a research note on Monday, March 2nd. Finally, Weiss Ratings downgraded Coupang from a “hold (c)” rating to a “sell (d+)” rating in a research report on Monday, March 2nd. Six analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $26.70.

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.