Irenic Capital Management LP bought a new stake in shares of Coupang, Inc. (NYSE:CPNG – Free Report) in the 2nd quarter, Holdings Channel.com reports. The firm bought 2,484,979 shares of the company’s stock, valued at approximately $43,164,000. Coupang makes up approximately 2.1% of Irenic Capital Management LP’s holdings, making the stock its 11th largest position.
A number of other hedge funds have also recently bought and sold shares of the company. EverSource Wealth Advisors LLC boosted its position in shares of Coupang by 72.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,316 shares of the company’s stock valued at $99,000 after purchasing an additional 1,395 shares in the last quarter. Baird Financial Group Inc. raised its holdings in shares of Coupang by 52.8% in the 2nd quarter. Baird Financial Group Inc. now owns 23,471 shares of the company’s stock worth $703,000 after purchasing an additional 8,107 shares in the last quarter. Cerity Partners LLC raised its holdings in shares of Coupang by 48.1% in the 2nd quarter. Cerity Partners LLC now owns 45,252 shares of the company’s stock worth $1,356,000 after purchasing an additional 14,703 shares in the last quarter. State Street Corp lifted its stake in Coupang by 8.4% during the second quarter. State Street Corp now owns 15,641,775 shares of the company’s stock valued at $468,628,000 after purchasing an additional 1,210,801 shares during the last quarter. Finally, AXA S.A. acquired a new stake in Coupang during the second quarter valued at approximately $411,000. 83.72% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling at Coupang
In other Coupang news, insider Harold Rogers sold 192,110 shares of the business’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $16.18, for a total transaction of $3,108,339.80. Following the sale, the insider directly owned 740,931 shares of the company’s stock, valued at $11,988,263.58. The trade was a 20.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Jonathan D. Lee sold 5,519 shares of the 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 completion of the sale, the chief accounting officer owned 181,915 shares of the company’s stock, valued at $2,928,831.50. The trade was a 2.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 12.83% of the stock is owned by insiders.
Analysts Set New Price Targets
Get Our Latest Research Report on CPNG
Coupang Stock Performance
Shares of CPNG opened at $15.26 on Friday. The company has a 50-day moving average of $16.70 and a two-hundred day moving average of $17.72. The stock has a market cap of $27.43 billion, a price-to-earnings ratio of -35.49 and a beta of 1.15. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.87 and a quick ratio of 0.68. Coupang, Inc. has a one year low of $14.92 and a one year high of $34.08.
Coupang (NYSE:CPNG – Get Free Report) last released its quarterly 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 business had revenue of $8.86 billion for the quarter, compared to analyst estimates of $8.92 billion. Coupang had a negative net margin of 2.16% and a negative return on equity of 8.77%. The firm’s revenue was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.02 earnings per share. On average, equities research analysts expect that Coupang, Inc. will post -0.46 earnings per share for the current year.
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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