Havemeyer Place LP Takes $3.48 Million Position in Coupang, Inc. $CPNG

Havemeyer Place LP purchased a new stake in Coupang, Inc. (NYSE:CPNG) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 147,597 shares of the company’s stock, valued at approximately $3,482,000. Coupang makes up 0.7% of Havemeyer Place LP’s investment portfolio, making the stock its 16th largest holding.

A number of other large investors have also made changes to their positions in the stock. Dodge & Cox grew its position in shares of Coupang by 0.7% in the third quarter. Dodge & Cox now owns 46,947,720 shares of the company’s stock valued at $1,511,717,000 after purchasing an additional 333,200 shares in the last quarter. Capital International Investors grew its position in shares of Coupang by 7.6% in the third quarter. Capital International Investors now owns 34,153,094 shares of the company’s stock valued at $1,099,792,000 after purchasing an additional 2,421,089 shares in the last quarter. Vanguard Group Inc. grew its position 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 in the last quarter. Durable Capital Partners LP grew its position 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 valued at $799,629,000 after purchasing an additional 89,207 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Coupang by 7.5% in the fourth quarter. Geode Capital Management LLC now owns 24,327,724 shares of the company’s stock valued at $574,068,000 after purchasing an additional 1,689,293 shares in the last quarter. 83.72% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Coupang news, Director Neil Mehta acquired 3,000,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 12th. The shares were purchased at an average cost of $18.68 per share, for a total transaction of $56,040,000.00. Following the completion of the acquisition, the director owned 52,978,114 shares of the company’s stock, valued at approximately $989,631,169.52. The trade was a 6.00% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders purchased 7,350,104 shares of company stock valued at $136,566,051 in the last 90 days. Corporate insiders own 12.83% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on CPNG shares. Sanford C. Bernstein restated an “underperform” rating on shares of Coupang in a research report on Monday, March 2nd. Citigroup lowered Coupang from a “buy” rating to a “neutral” rating and dropped their price target for the company from $23.00 to $22.20 in a research report on Wednesday, May 6th. Nomura dropped their price target on Coupang from $22.00 to $20.00 and set a “neutral” rating for the company in a research report on Monday, March 2nd. Weiss Ratings lowered Coupang from a “sell (d+)” rating to a “sell (d)” rating in a research report on Thursday, May 7th. Finally, Morgan Stanley dropped their price target on Coupang from $31.00 to $29.00 and set an “overweight” rating for the company in a research report on Monday, March 2nd. Four analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $26.92.

Coupang Trading Down 7.1%

CPNG opened at $15.36 on Friday. Coupang, Inc. has a one year low of $15.03 and a one year high of $34.08. The stock has a market capitalization of $27.56 billion, a PE ratio of -170.59 and a beta of 1.12. The business’s 50 day moving average price is $18.26 and its 200 day moving average price is $20.56. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.76 and a current ratio of 0.97.

Coupang (NYSE:CPNG) last released its quarterly earnings data on Tuesday, May 5th. The company reported ($0.15) EPS 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 business had revenue of $8.50 billion during the quarter, compared to analyst estimates of $8.48 billion. During the same quarter in the prior year, the company posted $0.06 earnings per share. The company’s revenue was up 7.5% on a year-over-year basis. As a group, equities research analysts expect that Coupang, Inc. will post -0.17 EPS for the current year.

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.