Allen Capital Group LLC Has $2.85 Million Stock Position in Coupang, Inc. $CPNG

Key Points

• Allen Capital Group increased its Coupang stake by 469.2% in the first quarter, holding 150,791 shares valued at approximately $2.85 million. Institutional investors collectively own 83.72% of the company.
• Coupang reported quarterly revenue of $8.50 billion, up 7.5% year over year, but missed earnings expectations with a loss of $0.15 per share versus the forecasted $0.09 loss.
• Analysts have a consensus “Hold” rating and an average price target of $25.93, compared with shares opening at $16.41; targets range from $24 to $31.

Allen Capital Group LLC raised its stake in Coupang, Inc. (NYSE:CPNG - Free Report) by 469.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 150,791 shares of the company's stock after purchasing an additional 124,297 shares during the period. Allen Capital Group LLC's holdings in Coupang were worth $2,847,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Sunbelt Securities Inc. bought a new stake in shares of Coupang during the third quarter worth approximately $26,000. Reflection Asset Management bought a new position in shares of Coupang during the fourth quarter worth approximately $28,000. Webster Bank N. A. lifted its holdings in Coupang by 325.8% during the 1st quarter. Webster Bank N. A. now owns 1,699 shares of the company's stock worth $32,000 after purchasing an additional 1,300 shares during the last quarter. Main Street Group LTD acquired a new stake in Coupang during the 1st quarter worth approximately $40,000. Finally, Aster Capital Management DIFC Ltd bought a new stake in Coupang in the 4th quarter valued at $42,000. Institutional investors and hedge funds own 83.72% of the company's stock.

Coupang Price Performance

Shares of CPNG opened at $16.41 on Friday. Coupang, Inc. has a 12-month low of $14.92 and a 12-month high of $34.08. The business has a 50-day simple moving average of $16.99 and a two-hundred day simple moving average of $18.33. The company has a quick ratio of 0.76, a current ratio of 0.97 and a debt-to-equity ratio of 0.16. The stock has a market cap of $29.45 billion, a PE ratio of -182.29 and a beta of 1.11.

Coupang (NYSE:CPNG - Get Free Report) last announced its quarterly 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 analyst estimates 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 for the quarter was up 7.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.06 earnings per share. Analysts anticipate that Coupang, Inc. will post -0.33 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have commented on the company. The Goldman Sachs Group set a $31.00 price objective on Coupang in a report on Thursday, July 9th. Bank of America cut their price target on Coupang from $28.00 to $27.00 and set a "buy" rating for the company in a research note on Wednesday, June 24th. CLSA assumed coverage on Coupang in a research report on Monday, June 15th. They set an "outperform" rating and a $24.00 price target on the stock. Mizuho lowered their price objective on Coupang from $25.00 to $24.00 and set a "neutral" rating on the stock in a research note on Wednesday. Finally, Weiss Ratings cut Coupang from a "sell (d+)" rating to a "sell (d)" rating in a report on Thursday, May 7th. Five investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $25.93.

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.

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