Ashoka WhiteOak Capital Pte Ltd Boosts Position in Coupang, Inc. $CPNG

Key Points

• Ashoka WhiteOak Capital Pte Ltd increased its stake in Coupang, Inc. by 170.4% during the 2nd quarter, now holding 62,363 shares valued at approximately $1.97 million.
• Analyst ratings for Coupang show a mix, with one firm rating it a Strong Buy, seven rating it Buy, and two giving it a Hold, leading to a consensus target price of $33.11.
• Coupang reported revenue of $8.52 billion in its last quarterly earnings, a 16.4% increase from the previous year, though it missed EPS estimates with a reported $0.02 per share.

Ashoka WhiteOak Capital Pte Ltd raised its holdings in Coupang, Inc. (NYSE:CPNG - Free Report) by 170.4% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 62,363 shares of the company's stock after acquiring an additional 39,300 shares during the quarter. Coupang makes up about 1.0% of Ashoka WhiteOak Capital Pte Ltd's portfolio, making the stock its 7th largest holding. Ashoka WhiteOak Capital Pte Ltd's holdings in Coupang were worth $1,974,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Dakota Wealth Management grew its stake in shares of Coupang by 244.6% in the second quarter. Dakota Wealth Management now owns 69,840 shares of the company's stock worth $2,092,000 after purchasing an additional 49,575 shares during the last quarter. Public Employees Retirement System of Ohio raised its position in Coupang by 26.5% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 1,109,175 shares of the company's stock worth $33,231,000 after purchasing an additional 232,256 shares during the last quarter. Cigna Investments Inc. New lifted its holdings in Coupang by 6.3% during the 2nd quarter. Cigna Investments Inc. New now owns 10,266 shares of the company's stock worth $308,000 after buying an additional 612 shares during the period. CHICAGO TRUST Co NA bought a new stake in shares of Coupang in the 2nd quarter valued at about $258,000. Finally, GAMMA Investing LLC increased its stake in shares of Coupang by 39.8% in the second quarter. GAMMA Investing LLC now owns 3,516 shares of the company's stock valued at $105,000 after buying an additional 1,001 shares during the period. Institutional investors and hedge funds own 83.72% of the company's stock.

Analysts Set New Price Targets

CPNG has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft downgraded Coupang from a "buy" rating to a "hold" rating and set a $27.00 price objective for the company. in a research report on Wednesday, August 6th. Arete Research initiated coverage on shares of Coupang in a research report on Thursday, September 18th. They set a "buy" rating and a $40.00 target price for the company. Arete started coverage on shares of Coupang in a research report on Thursday, September 18th. They issued a "buy" rating and a $40.00 price target on the stock. Nomura raised shares of Coupang from a "neutral" rating to a "buy" rating and set a $35.00 price objective on the stock in a research note on Wednesday, August 6th. Finally, Nomura Securities upgraded shares of Coupang to a "strong-buy" rating in a research report on Wednesday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $33.11.

Coupang Price Performance

Shares of CPNG opened at $31.88 on Friday. The firm has a market cap of $58.11 billion, a PE ratio of 159.38 and a beta of 1.15. Coupang, Inc. has a 52-week low of $19.02 and a 52-week high of $34.08. The business's 50 day moving average price is $30.03 and its two-hundred day moving average price is $27.23. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.84 and a current ratio of 1.09.

Coupang (NYSE:CPNG - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.05). Coupang had a net margin of 1.13% and a return on equity of 7.47%. The company had revenue of $8.52 billion during the quarter, compared to the consensus estimate of $8.34 billion. During the same quarter in the prior year, the firm earned $0.07 EPS. The business's revenue was up 16.4% compared to the same quarter last year. On average, equities analysts anticipate that Coupang, Inc. will post 0.17 EPS for the current year.

Insiders Place Their Bets

In other news, Director Pedro Franceschi sold 21,428 shares of the firm's stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $32.05, for a total value of $686,767.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Gaurav Anand sold 75,350 shares of the business's stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $27.79, for a total value of $2,093,976.50. Following the completion of the sale, the chief financial officer directly owned 2,016,940 shares of the company's stock, valued at $56,050,762.60. The trade was a 3.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 988,983 shares of company stock valued at $31,203,966. 12.78% of the stock is currently owned by corporate insiders.

Coupang 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.

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