Edgestream Partners L.P. Has $6.62 Million Holdings in Coupang, Inc. $CPNG

Key Points

• Edgestream Partners sharply increased its Coupang stake by 2,790.4% in the first quarter, acquiring 338,752 additional shares for a total holding valued at $6.625 million.
• Coupang reported quarterly revenue of $8.50 billion, up 7.5% year over year and slightly above estimates, but its $0.15 loss per share missed the $0.09-loss consensus.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $25.93; 83.72% of Coupang’s shares are owned by institutional investors and hedge funds.

Edgestream Partners L.P. lifted its stake in Coupang, Inc. (NYSE:CPNG - Free Report) by 2,790.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 350,892 shares of the company's stock after buying an additional 338,752 shares during the period. Edgestream Partners L.P.'s holdings in Coupang were worth $6,625,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. EverSource Wealth Advisors LLC boosted its position in shares of Coupang by 72.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,316 shares of the company's stock valued at $99,000 after acquiring an additional 1,395 shares in the last quarter. Baird Financial Group Inc. raised its position in Coupang by 52.8% in the second quarter. Baird Financial Group Inc. now owns 23,471 shares of the company's stock worth $703,000 after purchasing an additional 8,107 shares in the last quarter. Cerity Partners LLC lifted its stake in Coupang by 48.1% during the second quarter. Cerity Partners LLC now owns 45,252 shares of the company's stock worth $1,356,000 after purchasing an additional 14,703 shares during the period. State Street Corp lifted its stake in Coupang by 8.4% during the second quarter. State Street Corp now owns 15,641,775 shares of the company's stock worth $468,628,000 after purchasing an additional 1,210,801 shares during the period. Finally, AXA S.A. acquired a new stake in Coupang during the second quarter valued at approximately $411,000. 83.72% of the stock is owned by institutional investors and hedge funds.

Coupang Stock Up 6.4%

Shares of NYSE:CPNG opened at $16.14 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.97 and a quick ratio of 0.76. The stock has a market cap of $28.96 billion, a price-to-earnings ratio of -179.26 and a beta of 1.11. The company has a 50 day moving average of $16.99 and a 200-day moving average of $18.34. Coupang, Inc. has a one year low of $14.92 and a one year high of $34.08.

Coupang (NYSE:CPNG - Get Free Report) last announced 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 net margin of 0.47% and a negative return on equity of 3.67%. The business had revenue of $8.50 billion during the quarter, compared to analyst estimates of $8.48 billion. During the same quarter in the prior year, the company earned $0.06 earnings per share. The company's quarterly revenue was up 7.5% on a year-over-year basis. On average, sell-side analysts forecast that Coupang, Inc. will post -0.33 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on CPNG shares. Mizuho lowered their price target on Coupang from $25.00 to $24.00 and set a "neutral" rating on the stock in a research report on Wednesday. Citigroup cut Coupang from a "buy" rating to a "neutral" rating and cut their price objective for the company from $23.00 to $22.20 in a report on Wednesday, May 6th. CLSA assumed coverage on shares of Coupang in a research note on Monday, June 15th. They issued an "outperform" rating and a $24.00 target price on the stock. Bank of America lowered their target price on shares of Coupang from $28.00 to $27.00 and set a "buy" rating on the stock in a report on Wednesday, June 24th. Finally, The Goldman Sachs Group set a $31.00 target price on shares of Coupang in a research report on Thursday, July 9th. Five analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average 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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