Cloverfields Capital Group LP Raises Stock Holdings in Coupang, Inc. $CPNG

Cloverfields Capital Group LP raised its holdings in Coupang, Inc. (NYSE:CPNG) by 64.2% during the 1st quarter, Holdings Channel reports. The firm owned 197,196 shares of the company’s stock after buying an additional 77,130 shares during the quarter. Cloverfields Capital Group LP’s holdings in Coupang were worth $3,723,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Sunbelt Securities Inc. acquired a new stake in Coupang in the 3rd quarter valued at $26,000. Reflection Asset Management purchased a new stake in Coupang in the 4th quarter worth $28,000. Webster Bank N. A. raised its position in Coupang by 325.8% during the first quarter. Webster Bank N. A. now owns 1,699 shares of the company’s stock worth $32,000 after acquiring an additional 1,300 shares during the period. Main Street Group LTD acquired a new position in Coupang during the first quarter worth $40,000. Finally, Aster Capital Management DIFC Ltd purchased a new position in Coupang during the fourth quarter valued at $42,000. 83.72% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Weiss Ratings lowered shares of Coupang from a “sell (d+)” rating to a “sell (d)” rating in a research report on Thursday, May 7th. Deutsche Bank Aktiengesellschaft downgraded shares of Coupang from a “buy” rating to a “hold” rating and set a $23.00 price target for the company. in a research report on Wednesday, May 6th. CLSA initiated coverage on shares of Coupang in a research note on Monday, June 15th. They issued an “outperform” rating and a $24.00 price target on the stock. Barclays reiterated an “overweight” rating and issued a $29.00 price objective on shares of Coupang in a report on Tuesday, July 7th. Finally, Citigroup lowered Coupang from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $23.00 to $22.20 in a research note on Wednesday, May 6th. Five analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $26.02.

Coupang Stock Up 0.0%

CPNG stock opened at $15.64 on Friday. Coupang, Inc. has a one year low of $14.92 and a one year high of $34.08. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.76 and a current ratio of 0.97. The firm has a market cap of $28.07 billion, a PE ratio of -173.73 and a beta of 1.11. The firm’s 50 day moving average price is $16.99 and its 200-day moving average price is $18.60.

Coupang (NYSE:CPNG) last released 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 return on equity of 3.67% and a negative net margin of 0.47%.The business had revenue of $8.50 billion for the quarter, compared to analysts’ expectations of $8.48 billion. During the same quarter in the prior year, the company posted $0.06 earnings per share. The business’s revenue for the quarter was up 7.5% compared to the same quarter last year. On average, equities research analysts anticipate that Coupang, Inc. will post -0.33 EPS for the current year.

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.