Archon Partners LLC Makes New Investment in Coupang, Inc. $CPNG

Archon Partners LLC purchased a new position in shares of Coupang, Inc. (NYSE:CPNG) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 220,000 shares of the company’s stock, valued at approximately $4,154,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Coupang during the 1st quarter valued at about $14,751,000. Cloverfields Capital Group LP increased its holdings in Coupang by 64.2% during the first quarter. Cloverfields Capital Group LP now owns 197,196 shares of the company’s stock valued at $3,723,000 after buying an additional 77,130 shares during the period. Gavilan Investment Partners LLC increased its holdings in Coupang by 5.0% during the first quarter. Gavilan Investment Partners LLC now owns 1,465,000 shares of the company’s stock valued at $27,659,000 after buying an additional 70,000 shares during the period. Inceptionr LLC increased its holdings in Coupang by 242.1% during the first quarter. Inceptionr LLC now owns 31,541 shares of the company’s stock valued at $595,000 after buying an additional 22,320 shares during the period. Finally, Sei Investments Co. raised its stake in Coupang by 86.0% in the first quarter. Sei Investments Co. now owns 3,573,682 shares of the company’s stock worth $67,471,000 after buying an additional 1,652,492 shares in the last quarter. 83.72% of the stock is currently owned by institutional investors.

Coupang Stock Performance

Shares of CPNG stock opened at $15.52 on Friday. Coupang, Inc. has a 12-month low of $14.92 and a 12-month high of $34.08. The business’s fifty day simple moving average is $16.98 and its 200-day simple moving average is $18.58. The company has a current ratio of 0.97, a quick ratio of 0.76 and a debt-to-equity ratio of 0.16. The company has a market cap of $27.85 billion, a PE ratio of -172.38 and a beta of 1.11.

Coupang (NYSE:CPNG) last posted its quarterly earnings data on Tuesday, May 5th. The company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.06). Coupang had a negative return on equity of 3.67% and a negative net margin of 0.47%.The business had revenue of $8.50 billion during the quarter, compared to analyst estimates of $8.48 billion. During the same period in the previous year, the business earned $0.06 EPS. The firm’s revenue for the quarter was up 7.5% compared to the same quarter last year. Analysts expect that Coupang, Inc. will post -0.33 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CPNG has been the subject of a number of analyst reports. Bank of America lowered their target price on Coupang from $28.00 to $27.00 and set a “buy” rating for the company in a report on Wednesday, June 24th. Barclays reissued an “overweight” rating and issued a $29.00 price target on shares of Coupang in a research report on Tuesday, July 7th. The Goldman Sachs Group set a $31.00 price objective on Coupang in a research note on Thursday, July 9th. CLSA initiated coverage on Coupang in a research report on Monday, June 15th. They set an “outperform” rating and a $24.00 price objective on the stock. Finally, Citigroup lowered Coupang from a “buy” rating to a “neutral” rating and cut their target price for the company from $23.00 to $22.20 in a research note on Wednesday, May 6th. Five equities research 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. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $26.02.

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.