12 West Capital Management LP Invests $5.90 Million in Coupang, Inc. $CPNG

12 West Capital Management LP bought a new position in shares of Coupang, Inc. (NYSE:CPNG) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 250,000 shares of the company’s stock, valued at approximately $5,898,000. Coupang comprises about 0.7% of 12 West Capital Management LP’s portfolio, making the stock its 16th largest holding.

A number of other hedge funds have also modified their holdings of the business. 3G Capital Partners LP grew its position in shares of Coupang by 16.7% during the fourth quarter. 3G Capital Partners LP now owns 700,000 shares of the company’s stock worth $16,513,000 after acquiring an additional 100,000 shares during the last quarter. Bienville Capital Management LLC lifted its holdings in shares of Coupang by 40.2% during the fourth quarter. Bienville Capital Management LLC now owns 933,537 shares of the company’s stock worth $22,022,000 after purchasing an additional 267,754 shares during the period. Fund 1 Investments LLC acquired a new stake in shares of Coupang during the fourth quarter worth $1,297,000. EFG International AG acquired a new stake in shares of Coupang during the fourth quarter worth $44,000. Finally, TB Capital Gestao de Recursos Ltda. lifted its holdings in shares of Coupang by 93.6% during the fourth quarter. TB Capital Gestao de Recursos Ltda. now owns 562,173 shares of the company’s stock worth $13,262,000 after purchasing an additional 271,783 shares during the period. 83.72% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on CPNG shares. CLSA started coverage on Coupang in a report on Monday. They set an “outperform” rating and a $24.00 price target for the company. Morgan Stanley decreased their price target on Coupang from $31.00 to $29.00 and set an “overweight” rating for the company in a report on Monday, March 2nd. Wall Street Zen downgraded Coupang from a “hold” rating to a “strong sell” rating in a report on Saturday, March 14th. Weiss Ratings downgraded Coupang from a “sell (d+)” rating to a “sell (d)” rating in a report on Thursday, May 7th. Finally, Citigroup downgraded Coupang from a “buy” rating to a “neutral” rating and reduced their target price for the company from $23.00 to $22.20 in a report on Wednesday, May 6th. Five research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $26.65.

Coupang Trading Up 4.6%

Shares of CPNG stock opened at $18.87 on Thursday. Coupang, Inc. has a fifty-two week low of $14.92 and a fifty-two week high of $34.08. The stock has a market cap of $33.87 billion, a P/E ratio of -209.60 and a beta of 1.12. The business has a fifty day simple moving average of $17.95 and a 200-day simple moving average of $19.91. The company has a quick ratio of 0.76, a current ratio of 0.97 and a debt-to-equity ratio of 0.16.

Coupang (NYSE:CPNG) last announced its quarterly earnings results 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 net margin of 0.47% and a negative return on equity of 3.67%. The firm had revenue of $8.50 billion during the quarter, compared to analysts’ expectations of $8.48 billion. During the same quarter in the prior year, the business earned $0.06 EPS. The company’s quarterly revenue was up 7.5% compared to the same quarter last year. On average, analysts forecast that Coupang, Inc. will post -0.17 earnings per share for the current fiscal year.

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.