Neo Ivy Capital Management Invests $3.33 Million in Coupang, Inc. (NYSE:CPNG)

Neo Ivy Capital Management bought a new position in shares of Coupang, Inc. (NYSE:CPNG) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 151,659 shares of the company’s stock, valued at approximately $3,333,000.

Several other institutional investors and hedge funds have also bought and sold shares of CPNG. Norges Bank bought a new stake in Coupang during the fourth quarter worth about $404,896,000. Price T Rowe Associates Inc. MD raised its holdings in Coupang by 29.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 75,686,648 shares of the company’s stock worth $1,663,594,000 after acquiring an additional 17,123,637 shares in the last quarter. Durable Capital Partners LP raised its holdings in Coupang by 13.6% during the fourth quarter. Durable Capital Partners LP now owns 28,636,287 shares of the company’s stock worth $629,426,000 after acquiring an additional 3,420,133 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its holdings in Coupang by 106.5% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 5,778,763 shares of the company’s stock worth $127,017,000 after acquiring an additional 2,979,981 shares in the last quarter. Finally, Coronation Fund Managers Ltd. raised its holdings in Coupang by 53.3% during the fourth quarter. Coronation Fund Managers Ltd. now owns 7,383,611 shares of the company’s stock worth $162,292,000 after acquiring an additional 2,566,581 shares in the last quarter. Institutional investors own 83.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Barclays upped their target price on Coupang from $35.00 to $36.00 and gave the stock an “overweight” rating in a report on Thursday, May 8th. Mizuho upgraded Coupang to a “hold” rating in a research note on Friday, April 18th. Finally, Deutsche Bank Aktiengesellschaft upgraded Coupang from a “hold” rating to a “buy” rating and set a $28.50 price objective on the stock in a research note on Wednesday, February 26th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $29.64.

Insider Transactions at Coupang

In other news, Director Benjamin Sun sold 250,000 shares of the stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $23.43, for a total transaction of $5,857,500.00. Following the transaction, the director now owns 1,719,421 shares in the company, valued at approximately $40,286,034.03. This trade represents a 12.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Svf Investments (Uk) Ltd sold 30,000,000 shares of the stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $25.75, for a total value of $772,500,000.00. Following the transaction, the insider now owns 319,542,259 shares in the company, valued at approximately $8,228,213,169.25. This trade represents a 8.58% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 30,334,697 shares of company stock worth $780,547,061. Company insiders own 13.60% of the company’s stock.

Coupang Price Performance

NYSE:CPNG opened at $27.28 on Friday. The company has a quick ratio of 0.86, a current ratio of 1.13 and a debt-to-equity ratio of 0.28. The stock’s 50 day moving average price is $23.38 and its two-hundred day moving average price is $23.51. The firm has a market capitalization of $49.53 billion, a price-to-earnings ratio of 47.86, a P/E/G ratio of 52.20 and a beta of 1.08. Coupang, Inc. has a 12-month low of $18.16 and a 12-month high of $27.73.

Coupang (NYSE:CPNG) last announced its earnings results on Tuesday, May 6th. The company reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.01). The firm had revenue of $7.91 billion for the quarter, compared to the consensus estimate of $8.02 billion. Coupang had a return on equity of 11.52% and a net margin of 3.57%. The company’s quarterly revenue was up 11.2% compared to the same quarter last year. On average, analysts anticipate that Coupang, Inc. will post 0.17 earnings per share for the current year.

About Coupang

Coupang, Inc, together with its subsidiaries owns and operates retail business through its mobile applications and Internet websites primarily in South Korea. The company operates through Product Commerce and Developing Offerings segments. It sells various products and services in the categories of home goods and décor products, apparel, beauty products, fresh food and groceries, sporting goods, electronics, and everyday consumables, as well as travel, and restaurant order and delivery services.