Archon Partners LLC Buys New Stake in Coupang, Inc. $CPNG

Archon Partners LLC purchased a new stake in Coupang, Inc. (NYSE:CPNG) during the first quarter, according to its most recent filing with the SEC. The fund purchased 220,000 shares of the company’s stock, valued at approximately $4,154,000.

Several other hedge funds have also bought and sold shares of the stock. Norges Bank purchased a new stake in shares of Coupang during the 4th quarter worth approximately $498,333,000. Assenagon Asset Management S.A. grew its holdings in shares of Coupang by 1,394.1% in the first quarter. Assenagon Asset Management S.A. now owns 17,117,583 shares of the company’s stock valued at $323,180,000 after purchasing an additional 15,971,942 shares in the last quarter. Tiger Global Management LLC grew 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 in the last quarter. Capital International Investors increased its position in Coupang by 20.4% in the fourth quarter. Capital International Investors now owns 41,131,036 shares of the company’s stock worth $970,340,000 after purchasing an additional 6,977,942 shares during the last quarter. Finally, Dragoneer Investment Group LLC increased its position in Coupang by 47.1% in the fourth quarter. Dragoneer Investment Group LLC now owns 21,576,556 shares of the company’s stock worth $508,991,000 after purchasing an additional 6,910,865 shares during the last quarter. Hedge funds and other institutional investors own 83.72% of the company’s stock.

Coupang Price Performance

Coupang 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 company has a current ratio of 0.97, a quick ratio of 0.76 and a debt-to-equity ratio of 0.16. The firm has a 50-day moving average price of $16.98 and a 200-day moving average price of $18.58. The firm has a market capitalization of $27.85 billion, a PE ratio of -172.38 and a beta of 1.11.

Coupang (NYSE:CPNG) last issued its quarterly earnings results on Tuesday, May 5th. The company reported ($0.15) EPS 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 firm had revenue of $8.50 billion for the quarter, compared to the consensus estimate of $8.48 billion. During the same quarter in the previous year, the company posted $0.06 earnings per share. The business’s revenue for the quarter was up 7.5% on a year-over-year basis. As a group, equities research analysts forecast that Coupang, Inc. will post -0.33 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. CLSA started coverage on shares of Coupang in a research note on Monday, June 15th. They issued an “outperform” rating and a $24.00 price objective for the company. Barclays reaffirmed an “overweight” rating and issued a $29.00 price target on shares of Coupang in a report on Tuesday, July 7th. Bank of America dropped their price target on Coupang from $28.00 to $27.00 and set a “buy” rating for the company in a research report on Wednesday, June 24th. Deutsche Bank Aktiengesellschaft cut Coupang from a “buy” rating to a “hold” rating and set a $23.00 price objective on the stock. in a research note on Wednesday, May 6th. Finally, Weiss Ratings downgraded Coupang from a “sell (d+)” rating to a “sell (d)” rating in a research report on Thursday, May 7th. Five equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Coupang currently has an average rating of “Hold” and a consensus price target 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.