Whitebark Investors LP Increases Stock Position in Coupang, Inc. $CPNG

Whitebark Investors LP increased its position in shares of Coupang, Inc. (NYSE:CPNG) by 40.2% during the 2nd quarter, Holdings Channel reports. The firm owned 868,344 shares of the company’s stock after acquiring an additional 249,000 shares during the period. Coupang comprises 16.4% of Whitebark Investors LP’s investment portfolio, making the stock its 3rd biggest position. Whitebark Investors LP’s holdings in Coupang were worth $26,016,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. Institute for Wealth Management LLC. purchased a new position in Coupang during the second quarter valued at $244,000. Janney Capital Management LLC grew its stake in Coupang by 29.5% during the second quarter. Janney Capital Management LLC now owns 335,927 shares of the company’s stock valued at $10,064,000 after acquiring an additional 76,546 shares in the last quarter. Janney Montgomery Scott LLC purchased a new position in Coupang during the second quarter valued at $227,000. Washington Capital Management Inc. purchased a new position in Coupang during the second quarter valued at $416,000. Finally, Albion Financial Group UT purchased a new position in Coupang during the second quarter valued at $30,000. 83.72% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CPNG has been the subject of several research analyst reports. Morgan Stanley raised their target price on shares of Coupang from $32.00 to $35.00 and gave the company an “overweight” rating in a research note on Wednesday, August 20th. Wall Street Zen cut shares of Coupang from a “buy” rating to a “hold” rating in a research note on Sunday, July 20th. Nomura raised shares of Coupang from a “neutral” rating to a “buy” rating and set a $35.00 target price for the company in a research note on Wednesday, August 6th. Deutsche Bank Aktiengesellschaft cut shares of Coupang from a “buy” rating to a “hold” rating and set a $27.00 target price for the company. in a research note on Wednesday, August 6th. Finally, Nomura Securities raised shares of Coupang to a “strong-buy” rating in a research note on Wednesday, August 6th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, Coupang has an average rating of “Moderate Buy” and a consensus price target of $33.11.

Coupang Stock Performance

Shares of NYSE:CPNG opened at $32.21 on Wednesday. Coupang, Inc. has a 52 week low of $19.02 and a 52 week high of $34.08. The stock has a market capitalization of $58.72 billion, a P/E ratio of 161.06 and a beta of 1.15. The firm has a fifty day simple moving average of $30.10 and a two-hundred day simple moving average of $27.47. The company has a quick ratio of 0.84, a current ratio of 1.09 and a debt-to-equity ratio of 0.18.

Coupang (NYSE:CPNG) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.05). Coupang had a return on equity of 7.47% and a net margin of 1.13%.The business had revenue of $8.52 billion during the quarter, compared to analysts’ expectations of $8.34 billion. During the same period in the previous year, the business earned $0.07 earnings per share. The business’s quarterly revenue was up 16.4% on a year-over-year basis. On average, analysts expect that Coupang, Inc. will post 0.17 earnings per share for the current fiscal year.

Insider Transactions at Coupang

In other news, Director Pedro Franceschi sold 21,428 shares of the firm’s stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $32.05, for a total value of $686,767.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Benjamin Sun sold 815,797 shares of the firm’s stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $31.88, for a total transaction of $26,007,608.36. Following the completion of the sale, the director owned 503,624 shares of the company’s stock, valued at $16,055,533.12. This trade represents a 61.83% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 988,983 shares of company stock worth $31,203,966. 12.78% of the stock is currently owned by insiders.

Coupang Company Profile

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.