Cloverfields Capital Group LP Boosts Stake in Coupang, Inc. $CPNG

Cloverfields Capital Group LP lifted its stake in shares of Coupang, Inc. (NYSE:CPNG) by 64.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 197,196 shares of the company’s stock after buying an additional 77,130 shares during the period. Cloverfields Capital Group LP’s holdings in Coupang were worth $3,723,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in CPNG. Dodge & Cox lifted its position in Coupang by 4.9% during the 4th quarter. Dodge & Cox now owns 49,233,320 shares of the company’s stock worth $1,161,414,000 after acquiring an additional 2,285,600 shares during the period. Capital International Investors grew its stake in Coupang by 20.4% during the 4th quarter. Capital International Investors now owns 41,131,036 shares of the company’s stock valued at $970,340,000 after purchasing an additional 6,977,942 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Coupang by 3.3% in the fourth quarter. Vanguard Group Inc. now owns 29,547,637 shares of the company’s stock valued at $697,029,000 after purchasing an additional 951,812 shares during the period. Tiger Global Management LLC increased its holdings in shares of Coupang by 65.9% in the fourth quarter. Tiger Global Management LLC now owns 26,267,259 shares of the company’s stock valued at $619,645,000 after purchasing an additional 10,429,680 shares during the period. Finally, Durable Capital Partners LP raised its stake in shares of Coupang by 0.4% in the third quarter. Durable Capital Partners LP now owns 24,833,189 shares of the company’s stock worth $799,629,000 after purchasing an additional 89,207 shares during the last quarter. 83.72% of the stock is owned by hedge funds and other institutional investors.

Coupang Price Performance

NYSE:CPNG opened at $15.64 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 company has a 50 day moving average price of $16.99 and a 200-day moving average price of $18.60. Coupang, Inc. has a 1-year low of $14.92 and a 1-year high of $34.08. The firm has a market cap of $28.07 billion, a price-to-earnings ratio of -173.73 and a beta of 1.11.

Coupang (NYSE:CPNG) last announced its quarterly earnings results on Tuesday, May 5th. The company reported ($0.15) earnings per share (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 analysts’ expectations of $8.48 billion. Coupang had a negative return on equity of 3.67% and a negative net margin of 0.47%.The business’s quarterly revenue was up 7.5% on a year-over-year basis. During the same period last year, the company posted $0.06 earnings per share. Equities research analysts forecast that Coupang, Inc. will post -0.33 EPS for the current year.

Analyst Upgrades and Downgrades

CPNG has been the subject of a number of research reports. The Goldman Sachs Group set a $31.00 target price on Coupang in a report on Thursday, July 9th. Deutsche Bank Aktiengesellschaft downgraded shares of Coupang from a “buy” rating to a “hold” rating and set a $23.00 price target on the stock. in a report on Wednesday, May 6th. Bank of America reduced their price target on shares of Coupang from $28.00 to $27.00 and set a “buy” rating for the company in a research report on Wednesday, June 24th. Weiss Ratings cut shares of Coupang from a “sell (d+)” rating to a “sell (d)” rating in a research note on Thursday, May 7th. Finally, Barclays reaffirmed an “overweight” rating and issued a $29.00 price objective on shares of Coupang in a report on Tuesday, July 7th. Five analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $26.02.

Coupang Company 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.