Corient Private Wealth LP Raises Stock Position in Coupang, Inc. $CPNG

Key Points

• Corient Private Wealth increased its Coupang position by 490.6% in the second quarter, adding 544,899 shares for a total holding of 655,963 shares valued at $11.4 million. Institutional investors collectively own 83.72% of the company.
• Analyst sentiment is mixed, with six Buy, four Hold, and two Sell ratings. Coupang has a consensus rating of Hold and an average price target of $25.39.
• Coupang shares opened at $14.44, near their 12-month low of $14.38. The company beat quarterly EPS estimates but missed revenue expectations, reporting $8.86 billion in revenue, up 3.9% year over year.

Corient Private Wealth LP boosted its position in shares of Coupang, Inc. (NYSE:CPNG - Free Report) by 490.6% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 655,963 shares of the company's stock after purchasing an additional 544,899 shares during the quarter. Corient Private Wealth LP's holdings in Coupang were worth $11,394,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Nellore Capital Management LLC lifted its stake in shares of Coupang by 12.6% during the 2nd quarter. Nellore Capital Management LLC now owns 3,760,975 shares of the company's stock worth $65,328,000 after purchasing an additional 420,000 shares during the last quarter. Geode Capital Management LLC grew its stake in Coupang by 7.5% in 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 last quarter. Handelsbanken Fonder AB raised its holdings in Coupang by 10.2% in the second quarter. Handelsbanken Fonder AB now owns 702,968 shares of the company's stock worth $12,211,000 after purchasing an additional 64,967 shares in the last quarter. Nykredit A S bought a new position in Coupang in the second quarter worth about $1,270,000. Finally, Tree Line Advisors Hong Kong Ltd. acquired a new position in shares of Coupang during the second quarter worth $67,743,000. 83.72% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. CLSA began coverage on shares of Coupang in a research note on Monday, June 15th. They set an "outperform" rating and a $24.00 price objective for the company. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Coupang in a report on Tuesday, August 4th. Bank of America reduced their target price on shares of Coupang from $27.00 to $24.00 and set a "buy" rating on the stock in a research note on Wednesday, August 5th. Barclays reissued an "overweight" rating and issued a $29.00 target price on shares of Coupang in a research report on Tuesday, July 7th. Finally, The Goldman Sachs Group set a $31.00 price objective on Coupang in a research report on Thursday, July 9th. Six research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Coupang currently has a consensus rating of "Hold" and a consensus target price of $25.39.

Insider Transactions at Coupang

In other Coupang news, CAO Jonathan D. Lee sold 5,519 shares of Coupang 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 transaction, the chief accounting officer directly 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 completion of the transaction, the insider directly 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 SEC filing for this sale provides additional information. Company insiders own 12.83% of the company's stock.

Coupang Stock Down 1.7%

Shares of NYSE:CPNG opened at $14.44 on Thursday. The firm has a 50 day simple moving average of $16.13 and a 200-day simple moving average of $17.53. Coupang, Inc. has a twelve month low of $14.38 and a twelve 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. The company has a market capitalization of $25.95 billion, a PE ratio of -33.57 and a beta of 1.15.

Coupang (NYSE:CPNG - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The company reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.27) by $0.18. Coupang had a negative net margin of 2.16% and a negative return on equity of 8.77%. The firm had revenue of $8.86 billion for the quarter, compared to analyst estimates of $8.92 billion. During the same period last year, the business earned $0.02 EPS. Coupang's revenue for the quarter was up 3.9% compared to the same quarter last year. On average, equities analysts predict that Coupang, Inc. will post -0.46 EPS for the current fiscal year.

Coupang Profile

Coupang, Inc NYSE: CPNG is an e-commerce and technology company founded in South Korea in 2010. The company operates an online marketplace offering consumer goods across categories such as electronics, household products, apparel, beauty products and groceries.

Its services include Rocket Delivery, a logistics and fulfillment network designed to provide fast delivery; Rocket Fresh, its grocery delivery service; and Coupang Eats, a food-ordering and delivery platform. Coupang also operates Coupang Play, a subscription-based streaming service, and Coupang Pay, a digital payments service.

Coupang serves customers primarily in South Korea and Taiwan.

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