FirstWave Capital Management LLC lessened its holdings in Coupang, Inc. (NYSE:CPNG – Free Report) by 71.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 79,317 shares of the company’s stock after selling 201,118 shares during the quarter. FirstWave Capital Management LLC’s holdings in Coupang were worth $1,378,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in CPNG. Dodge & Cox raised its stake in Coupang by 4.9% during the fourth quarter. Dodge & Cox now owns 49,233,320 shares of the company’s stock worth $1,161,414,000 after acquiring an additional 2,285,600 shares in the last quarter. Capital International Investors increased its stake in shares of Coupang by 20.4% in the 4th quarter. Capital International Investors now owns 41,131,036 shares of the company’s stock valued at $970,340,000 after buying an additional 6,977,942 shares during the period. Tiger Global Management LLC raised its holdings in Coupang by 31.7% during the 1st quarter. Tiger Global Management LLC now owns 34,595,407 shares of the company’s stock worth $653,161,000 after purchasing an additional 8,328,148 shares during the last quarter. Durable Capital Partners LP lifted its position in Coupang by 0.4% during the 3rd quarter. Durable Capital Partners LP now owns 24,833,189 shares of the company’s stock valued at $799,629,000 after purchasing an additional 89,207 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of Coupang by 7.5% in the 4th quarter. Geode Capital Management LLC now owns 24,327,724 shares of the company’s stock valued at $574,068,000 after purchasing an additional 1,689,293 shares during the last quarter. Institutional investors and hedge funds own 83.72% of the company’s stock.
Wall Street Analyst Weigh In
A number of equities research analysts recently weighed in on the stock. Weiss Ratings reissued a “sell (d)” rating on shares of Coupang in a research note on Tuesday, August 4th. The Goldman Sachs Group set a $31.00 target price on shares of Coupang in a report on Thursday, July 9th. Barclays reissued an “overweight” rating and issued a $29.00 price target on shares of Coupang in a research note on Tuesday, July 7th. CLSA began coverage on Coupang in a research note on Monday, June 15th. They set an “outperform” rating and a $24.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft upgraded Coupang from a “hold” rating to a “buy” rating and dropped their price objective for the company from $23.00 to $21.50 in a report on Wednesday, August 5th. Six investment analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $25.39.
Insider Buying and Selling at Coupang
In related news, CAO Jonathan D. Lee sold 5,519 shares of the business’s stock in a transaction on Monday, August 10th. The shares were 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 approximately $2,928,831.50. The trade was a 2.94% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Harold Rogers sold 192,110 shares of the company’s stock in a transaction 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 transaction, the insider directly owned 740,931 shares of the company’s stock, valued at approximately $11,988,263.58. The trade was a 20.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 12.83% of the stock is owned by corporate insiders.
Coupang Trading Down 1.6%
NYSE:CPNG opened at $15.26 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.87 and a quick ratio of 0.68. The business’s 50-day simple moving average is $16.70 and its 200-day simple moving average is $17.72. Coupang, Inc. has a fifty-two week low of $14.92 and a fifty-two week high of $34.08. The stock has a market capitalization of $27.43 billion, a PE ratio of -35.49 and a beta of 1.15.
Coupang (NYSE:CPNG – Get Free Report) last posted its earnings results on Tuesday, August 4th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.18. Coupang had a negative return on equity of 8.77% and a negative net margin of 2.16%.The business had revenue of $8.86 billion during the quarter, compared to analysts’ expectations of $8.92 billion. During the same period in the prior year, the business earned $0.02 EPS. Coupang’s revenue for the quarter was up 3.9% compared to the same quarter last year. Sell-side analysts expect that Coupang, Inc. will post -0.46 earnings per share for the current fiscal year.
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.
Featured Articles
- Five stocks we like better than Coupang
- Revolution Medicines Got Its Breakthrough—What Moves It Next?
- Retail Earnings Just Exposed a Bigger Divide in the U.S. Consumer Economy
- FB Financial’s Southern Expansion and Buybacks Drive Analyst Optimism
- AST SpaceMobile Stock Soared 12%—This Was the Catalyst
Want to see what other hedge funds are holding CPNG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Coupang, Inc. (NYSE:CPNG – Free Report).
Receive News & Ratings for Coupang Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Coupang and related companies with MarketBeat.com's FREE daily email newsletter.
