Carrhae Capital LLP Acquires New Shares in Coupang, Inc. $CPNG

Key Points

• Carrhae Capital LLP acquired 2.2 million Coupang shares worth approximately $38.2 million in the second quarter, making CPNG about 1% of its portfolio. Hedge funds and institutional investors collectively own 83.72% of the company.
• Coupang shares fell 3% to $14.82, near their 12-month low of $14.70. The company recently reported a quarterly loss of $0.09 per share, better than analysts’ expected loss of $0.27, while revenue rose 3.9% year over year to $8.86 billion.
• Analysts maintain a consensus “Hold” rating with an average price target of $25.39, despite recent insider selling by executives. Insiders own 12.83% of Coupang’s stock.

Carrhae Capital LLP acquired a new position in shares of Coupang, Inc. (NYSE:CPNG - Free Report) in the second quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 2,198,457 shares of the company's stock, valued at approximately $38,187,000. Coupang comprises approximately 1.0% of Carrhae Capital LLP's investment portfolio, making the stock its 19th biggest position. Carrhae Capital LLP owned 0.12% of Coupang at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of CPNG. Sunbelt Securities Inc. acquired a new stake in Coupang in the 3rd quarter valued at approximately $26,000. Reflection Asset Management acquired a new position in Coupang during the fourth quarter worth $28,000. LGT Financial Advisors LLC purchased a new position in shares of Coupang during the third quarter worth $52,000. Webster Bank N. A. grew its stake in shares of Coupang by 325.8% in the first quarter. Webster Bank N. A. now owns 1,699 shares of the company's stock valued at $32,000 after buying an additional 1,300 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd purchased a new stake in shares of Coupang in the 4th quarter valued at $42,000. 83.72% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Coupang 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 transaction of $3,108,339.80. Following the completion of the sale, the insider directly owned 740,931 shares of the company's stock, valued at $11,988,263.58. This represents a 20.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 value of $88,855.90. Following the sale, the chief accounting officer directly owned 181,915 shares of the company's stock, valued at $2,928,831.50. The trade was a 2.94% decrease in their ownership of the stock. 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.

Coupang Stock Down 3.0%

Shares of CPNG traded down $0.47 during mid-day trading on Tuesday, reaching $14.82. The company's stock had a trading volume of 20,494,052 shares, compared to its average volume of 22,433,451. The company's 50 day moving average is $16.65 and its 200 day moving average is $17.71. The stock has a market cap of $26.65 billion, a PE ratio of -34.48 and a beta of 1.15. Coupang, Inc. has a 12-month low of $14.70 and a 12-month high of $34.08. 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 (NYSE:CPNG - Get Free Report) last announced its 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 firm had revenue of $8.86 billion during the quarter, compared to analysts' expectations 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 was up 3.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.02 EPS. Equities analysts anticipate that Coupang, Inc. will post -0.46 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. CLSA started coverage on shares of Coupang in a research report on Monday, June 15th. They set an "outperform" rating and a $24.00 price target on the stock. Barclays reaffirmed an "overweight" rating and set a $29.00 price objective on shares of Coupang in a research report on Tuesday, July 7th. Weiss Ratings reissued a "sell (d)" rating on shares of Coupang in a research note on Tuesday, August 4th. Bank of America reduced their price target on Coupang from $27.00 to $24.00 and set a "buy" rating on the stock in a research report on Wednesday, August 5th. Finally, Mizuho set a $22.00 price objective on Coupang in a research report on Wednesday, August 5th. Six 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. Based on data from MarketBeat.com, Coupang currently has a consensus rating of "Hold" and a consensus target price of $25.39.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.