Carrhae Capital LLP acquired a new position in shares of Coupang, Inc. (NYSE:CPNG – Free Report) in the second quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 2,198,457 shares of the company’s stock, valued at approximately $38,187,000. Coupang comprises approximately 1.0% of Carrhae Capital LLP’s investment portfolio, making the stock its 19th biggest position. Carrhae Capital LLP owned 0.12% of Coupang at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of CPNG. Sunbelt Securities Inc. acquired a new stake in Coupang in the 3rd quarter valued at approximately $26,000. Reflection Asset Management acquired a new position in Coupang during the fourth quarter worth $28,000. LGT Financial Advisors LLC purchased a new position in shares of Coupang during the third quarter worth $52,000. Webster Bank N. A. grew its stake 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 buying an additional 1,300 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd purchased a new stake in shares of Coupang in the 4th quarter valued at $42,000. 83.72% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity
In other Coupang news, insider Harold Rogers sold 192,110 shares of the company’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $16.18, for a total transaction of $3,108,339.80. Following the completion of the sale, the insider directly owned 740,931 shares of the company’s stock, valued at $11,988,263.58. This represents a 20.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Jonathan D. Lee sold 5,519 shares of the stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $16.10, for a total value of $88,855.90. Following the sale, the chief accounting officer directly owned 181,915 shares of the company’s stock, valued at $2,928,831.50. The trade was a 2.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 12.83% of the company’s stock.
Coupang Stock Down 3.0%
Coupang (NYSE:CPNG – Get Free Report) last announced its earnings results on Tuesday, August 4th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.18. The firm had revenue of $8.86 billion during the quarter, compared to analysts’ expectations of $8.92 billion. Coupang had a negative return on equity of 8.77% and a negative net margin of 2.16%.The business’s revenue was up 3.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.02 EPS. Equities analysts anticipate that Coupang, Inc. will post -0.46 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
Several analysts have recently issued reports on the stock. CLSA started coverage on shares of Coupang in a research report on Monday, June 15th. They set an “outperform” rating and a $24.00 price target on the stock. Barclays reaffirmed an “overweight” rating and set a $29.00 price objective on shares of Coupang in a research report on Tuesday, July 7th. Weiss Ratings reissued a “sell (d)” rating on shares of Coupang in a research note on Tuesday, August 4th. Bank of America reduced their price target on Coupang from $27.00 to $24.00 and set a “buy” rating on the stock in a research report on Wednesday, August 5th. Finally, Mizuho set a $22.00 price objective on Coupang in a research report on Wednesday, August 5th. Six analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Coupang currently has a consensus rating of “Hold” and a consensus target price of $25.39.
Get Our Latest Stock Analysis on CPNG
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.
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