Ieq Capital LLC Sells 135,960 Shares of Coupang, Inc. $CPNG

Ieq Capital LLC lessened its holdings in Coupang, Inc. (NYSE:CPNG) by 6.4% during the 4th quarter, Holdings Channel reports. The firm owned 2,004,189 shares of the company’s stock after selling 135,960 shares during the period. Ieq Capital LLC’s holdings in Coupang were worth $47,279,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Sunbelt Securities Inc. bought a new position in shares of Coupang in the 3rd quarter valued at about $26,000. Fifth Third Bancorp boosted its stake in Coupang by 1,250.0% during the 3rd quarter. Fifth Third Bancorp now owns 1,080 shares of the company’s stock worth $35,000 after acquiring an additional 1,000 shares during the last quarter. Colonial Trust Advisors bought a new position in Coupang during the 3rd quarter worth approximately $48,000. LGT Financial Advisors LLC bought a new position in Coupang during the 3rd quarter worth approximately $52,000. Finally, Flagship Harbor Advisors LLC bought a new position in Coupang during the 4th quarter worth approximately $60,000. Institutional investors own 83.72% of the company’s stock.

Coupang Stock Performance

Shares of CPNG opened at $16.86 on Friday. 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, Inc. has a twelve month low of $14.92 and a twelve month high of $34.08. The firm’s 50 day moving average price is $18.01 and its two-hundred day moving average price is $20.17. The firm has a market cap of $30.26 billion, a P/E ratio of -187.28 and a beta of 1.12.

Coupang (NYSE:CPNG) last announced 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 net margin of 0.47% and a negative return on equity of 3.67%. The company had revenue of $8.50 billion during 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 business’s quarterly revenue was up 7.5% compared to the same quarter last year. On average, analysts forecast that Coupang, Inc. will post -0.17 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CPNG. Barclays lifted their price objective on shares of Coupang from $24.00 to $30.00 and gave the stock an “overweight” rating in a research note on Thursday, April 23rd. Mizuho reduced their price objective on shares of Coupang from $32.00 to $25.00 and set a “neutral” rating on the stock in a research note on Friday, February 27th. UBS Group set a $25.00 price objective on shares of Coupang in a research note on Thursday, February 19th. Sanford C. Bernstein reissued an “underperform” rating on shares of Coupang in a research note on Monday, March 2nd. Finally, Nomura reduced their price objective on shares of Coupang from $22.00 to $20.00 and set a “neutral” rating on the stock in a research note on Monday, March 2nd. Four research 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. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $26.92.

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.