Carrhae Capital LLP Buys Shares of 2,198,457 Coupang, Inc. $CPNG

Carrhae Capital LLP acquired a new stake in shares of Coupang, Inc. (NYSE:CPNG) during the second quarter, HoldingsChannel reports. The institutional investor acquired 2,198,457 shares of the company’s stock, valued at approximately $38,187,000. Coupang comprises about 1.0% of Carrhae Capital LLP’s investment portfolio, making the stock its 19th biggest holding.

Several other hedge funds also recently modified their holdings of the company. Light Street Capital Management LLC boosted its holdings in shares of Coupang by 92.5% in the 2nd quarter. Light Street Capital Management LLC now owns 2,025,000 shares of the company’s stock valued at $35,174,000 after purchasing an additional 973,043 shares during the last quarter. Nykredit A S acquired a new position in Coupang in the second quarter valued at $1,270,000. Corient Private Wealth LP increased its stake in Coupang by 490.6% during the second quarter. Corient Private Wealth LP now owns 655,963 shares of the company’s stock worth $11,394,000 after acquiring an additional 544,899 shares during the last quarter. California State Teachers Retirement System lifted its stake in shares of Coupang by 326.1% in the 2nd quarter. California State Teachers Retirement System now owns 305,590 shares of the company’s stock valued at $5,308,000 after purchasing an additional 233,876 shares in the last quarter. Finally, Wedmont Private Capital increased its position in Coupang by 126.4% during the 2nd quarter. Wedmont Private Capital now owns 139,669 shares of the company’s stock worth $2,626,000 after purchasing an additional 77,970 shares in the last quarter. 83.72% of the stock is owned by institutional investors and hedge funds.

Coupang Price Performance

Coupang stock traded down $0.47 during midday trading on Tuesday, hitting $14.82. The company’s stock had a trading volume of 20,494,052 shares, compared to its average volume of 22,433,451. Coupang, Inc. has a 12 month low of $14.70 and a 12 month high of $34.08. The company has a quick ratio of 0.68, a current ratio of 0.87 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $26.65 billion, a PE ratio of -34.48 and a beta of 1.15. The stock’s 50-day moving average price is $16.65 and its 200-day moving average price is $17.71.

Coupang (NYSE:CPNG) last posted its quarterly earnings data on Tuesday, August 4th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.27) by $0.18. The firm had revenue of $8.86 billion for the quarter, compared to the consensus estimate 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 for the quarter was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.02 EPS. Analysts anticipate that Coupang, Inc. will post -0.46 earnings per share for the current fiscal year.

Insider Transactions at Coupang

In other news, insider Harold Rogers sold 192,110 shares of the company’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $16.18, for a total value of $3,108,339.80. Following the transaction, the insider owned 740,931 shares in the company, valued at $11,988,263.58. This represents a 20.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 transaction of $88,855.90. Following the completion of the sale, the chief accounting officer directly owned 181,915 shares of the company’s stock, valued at $2,928,831.50. This trade represents a 2.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 12.83% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Mizuho set a $22.00 price objective on shares of Coupang in a research report on Wednesday, August 5th. Bank of America decreased their target price on Coupang from $27.00 to $24.00 and set a “buy” rating for the company in a research report on Wednesday, August 5th. Barclays reiterated an “overweight” rating and issued a $29.00 price objective on shares of Coupang in a report on Tuesday, July 7th. Deutsche Bank Aktiengesellschaft raised shares of Coupang from a “hold” rating to a “buy” rating and decreased their price target for the stock from $23.00 to $21.50 in a research report on Wednesday, August 5th. Finally, CLSA assumed coverage on shares of Coupang in a research note on Monday, June 15th. They set an “outperform” rating and a $24.00 price objective on the stock. Six research 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. According to MarketBeat, Coupang currently has a consensus rating of “Hold” and an average target price of $25.39.

Coupang Company 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.