IVY Lane Capital Management LLC Takes $1.51 Million Position in Coupang, Inc. $CPNG

IVY Lane Capital Management LLC bought a new position in Coupang, Inc. (NYSE:CPNG) during the 1st quarter, Holdings Channel.com reports. The firm bought 80,000 shares of the company’s stock, valued at approximately $1,510,000. Coupang accounts for about 2.3% of IVY Lane Capital Management LLC’s portfolio, making the stock its 8th largest holding.

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

Coupang Stock Down 4.5%

Shares of NYSE CPNG opened at $15.70 on Wednesday. The firm has a fifty day simple moving average of $17.02 and a two-hundred day simple moving average of $18.71. 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 market capitalization of $28.17 billion, a PE ratio of -174.37 and a beta of 1.11.

Coupang (NYSE:CPNG) last announced its 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 company had revenue of $8.50 billion for the quarter, compared to the consensus estimate of $8.48 billion. During the same period in the previous year, the firm posted $0.06 EPS. The company’s revenue for the quarter was up 7.5% on a year-over-year basis. Equities analysts expect that Coupang, Inc. will post -0.33 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Bank of America cut their target price on Coupang from $28.00 to $27.00 and set a “buy” rating on the stock in a research note on Wednesday, June 24th. Weiss Ratings lowered Coupang from a “sell (d+)” rating to a “sell (d)” rating in a research report on Thursday, May 7th. The Goldman Sachs Group set a $31.00 price target on Coupang in a research report on Thursday, July 9th. Barclays reiterated an “overweight” rating and issued a $29.00 price objective on shares of Coupang in a report on Tuesday, July 7th. Finally, Deutsche Bank Aktiengesellschaft lowered Coupang from a “buy” rating to a “hold” rating and set a $23.00 price objective on the stock. in a research report on Wednesday, May 6th. Five investment 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, Coupang currently has a consensus rating of “Hold” and an average target price of $26.02.

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.