Prospera Financial Services Inc boosted its stake in Coupang, Inc. (NYSE:CPNG – Get Rating) by 56.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,185 shares of the company’s stock after purchasing an additional 9,092 shares during the quarter. Prospera Financial Services Inc’s holdings in Coupang were worth $370,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also recently made changes to their positions in the business. Baillie Gifford & Co. raised its stake in shares of Coupang by 6.2% during the fourth quarter. Baillie Gifford & Co. now owns 115,176,100 shares of the company’s stock worth $1,694,240,000 after acquiring an additional 6,742,347 shares in the last quarter. Fiduciary Trust Co. raised its stake in shares of Coupang by 0.3% during the third quarter. Fiduciary Trust Co. now owns 13,536,840 shares of the company’s stock worth $225,660,000 after acquiring an additional 36,538 shares in the last quarter. Kontiki Capital Management HK Ltd. raised its stake in shares of Coupang by 0.4% during the third quarter. Kontiki Capital Management HK Ltd. now owns 8,768,468 shares of the company’s stock worth $146,170,000 after acquiring an additional 32,400 shares in the last quarter. Washington University raised its stake in shares of Coupang by 26.8% during the fourth quarter. Washington University now owns 7,767,824 shares of the company’s stock worth $114,265,000 after acquiring an additional 1,641,160 shares in the last quarter. Finally, Durable Capital Partners LP raised its stake in shares of Coupang by 111.9% during the third quarter. Durable Capital Partners LP now owns 5,824,375 shares of the company’s stock worth $97,092,000 after acquiring an additional 3,075,623 shares in the last quarter. 71.56% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several brokerages have recently issued reports on CPNG. Bank of America raised their target price on shares of Coupang from $18.00 to $19.00 in a report on Thursday. Barclays began coverage on shares of Coupang in a report on Thursday, February 9th. They issued an “overweight” rating and a $20.00 target price on the stock. Morgan Stanley cut their target price on shares of Coupang from $23.00 to $22.00 in a report on Monday, April 10th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Coupang from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a report on Wednesday, March 1st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Coupang has a consensus rating of “Moderate Buy” and a consensus price target of $21.11.
Coupang Stock Performance
Coupang (NYSE:CPNG – Get Rating) last announced its earnings results on Tuesday, May 9th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.08). Coupang had a negative net margin of 0.45% and a negative return on equity of 4.24%. The business had revenue of $5.80 billion for the quarter, compared to the consensus estimate of $5.64 billion. During the same quarter last year, the firm posted ($0.12) EPS. The business’s quarterly revenue was up 13.4% on a year-over-year basis. On average, equities analysts expect that Coupang, Inc. will post 0.26 EPS for the current fiscal year.
Coupang Company Profile
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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