AXQ Capital LP acquired a new position in shares of Coupang, Inc. (NYSE:CPNG - Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 320,339 shares of the company's stock, valued at approximately $5,564,000. Coupang makes up about 0.6% of AXQ Capital LP's portfolio, making the stock its 13th largest position.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Ethic Inc. grew its position in Coupang by 383.2% in the fourth quarter. Ethic Inc. now owns 126,154 shares of the company's stock worth $2,976,000 after acquiring an additional 100,047 shares in the last quarter. Nellore Capital Management LLC raised its position in Coupang by 12.6% during the second quarter. Nellore Capital Management LLC now owns 3,760,975 shares of the company's stock valued at $65,328,000 after purchasing an additional 420,000 shares during the period. Geode Capital Management LLC raised its position in Coupang by 7.5% during the fourth 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 period. Handelsbanken Fonder AB lifted its stake in shares of Coupang by 10.2% in the 2nd quarter. Handelsbanken Fonder AB now owns 702,968 shares of the company's stock valued at $12,211,000 after purchasing an additional 64,967 shares during the last quarter. Finally, Ashoka WhiteOak Capital Pte Ltd lifted its stake in shares of Coupang by 404.1% in the 4th quarter. Ashoka WhiteOak Capital Pte Ltd now owns 314,383 shares of the company's stock valued at $7,586,000 after purchasing an additional 252,020 shares during the last quarter. 83.72% of the stock is currently owned by institutional investors.
Coupang Trading Down 2.8%
Shares of Coupang stock opened at $15.53 on Friday. The firm's 50 day simple moving average is $16.74 and its two-hundred day simple moving average is $17.74. The firm has a market capitalization of $27.92 billion, a price-to-earnings ratio of -36.12 and a beta of 1.15. Coupang, Inc. has a 12-month low of $14.92 and a 12-month high of $34.08. The company has a current ratio of 0.87, a quick ratio of 0.68 and a debt-to-equity ratio of 0.21.
Coupang (NYSE:CPNG - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The company reported ($0.09) earnings per share for the quarter, beating analysts' consensus estimates of ($0.27) by $0.18. The firm 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 business's quarterly revenue was up 3.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.02 earnings per share. Analysts predict that Coupang, Inc. will post -0.46 EPS for the current year.
Insider Transactions at Coupang
In related news, insider Harold Rogers sold 192,110 shares of the company's stock in a transaction that occurred on 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 sale, the insider owned 740,931 shares in the company, valued at $11,988,263.58. This represents a 20.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 transaction, the chief accounting officer owned 181,915 shares in the company, valued at approximately $2,928,831.50. This trade represents a 2.94% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 12.83% of the company's stock.
Analyst Ratings Changes
Several equities analysts have recently weighed in on the company. Mizuho set a $22.00 target price on Coupang in a research report on Wednesday, August 5th. Weiss Ratings reiterated a "sell (d)" rating on shares of Coupang in a report on Tuesday, August 4th. Deutsche Bank Aktiengesellschaft raised Coupang from a "hold" rating to a "buy" rating and decreased their target price for the company from $23.00 to $21.50 in a research report on Wednesday, August 5th. Barclays reaffirmed an "overweight" rating and issued a $29.00 price target on shares of Coupang in a research report on Tuesday, July 7th. Finally, Bank of America decreased their price objective on Coupang from $27.00 to $24.00 and set a "buy" rating for the company in a research note on Wednesday, August 5th. Six investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $25.39.
Get Our Latest Stock Analysis on Coupang
Coupang Company Profile
(
Free Report)
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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