Coupang, Inc. $CPNG is Ashoka WhiteOak Capital Pte Ltd's 6th Largest Position

Key Points

• Ashoka WhiteOak Capital increased its Coupang stake by 404.1% in the fourth quarter, making the stock its 6th-largest position and about 2.9% of its portfolio.
• Insider buying was significant, with director Neil Mehta purchasing 2.33 million shares for about $42.9 million; insiders now own 12.78% of the company.
• Analyst sentiment has softened, with recent downgrades from Citigroup and Deutsche Bank, though the overall consensus remains “Hold” with an average price target of $26.92.

Ashoka WhiteOak Capital Pte Ltd raised its holdings in Coupang, Inc. (NYSE:CPNG - Free Report) by 404.1% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 314,383 shares of the company's stock after buying an additional 252,020 shares during the period. Coupang makes up approximately 2.9% of Ashoka WhiteOak Capital Pte Ltd's portfolio, making the stock its 6th largest position. Ashoka WhiteOak Capital Pte Ltd's holdings in Coupang were worth $7,586,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in Coupang by 4.6% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 7,436 shares of the company's stock valued at $239,000 after buying an additional 330 shares during the period. California State Teachers Retirement System lifted its position in shares of Coupang by 0.5% during the 3rd quarter. California State Teachers Retirement System now owns 78,679 shares of the company's stock worth $2,533,000 after purchasing an additional 361 shares during the last quarter. CIBC Asset Management Inc lifted its position in shares of Coupang by 0.6% during the 3rd quarter. CIBC Asset Management Inc now owns 65,029 shares of the company's stock worth $2,094,000 after purchasing an additional 364 shares during the last quarter. Resonant Capital Advisors LLC lifted its position in shares of Coupang by 2.9% during the 3rd quarter. Resonant Capital Advisors LLC now owns 13,088 shares of the company's stock worth $421,000 after purchasing an additional 374 shares during the last quarter. Finally, Level Four Advisory Services LLC lifted its position in shares of Coupang by 2.2% during the 3rd quarter. Level Four Advisory Services LLC now owns 20,916 shares of the company's stock worth $673,000 after purchasing an additional 441 shares during the last quarter. Hedge funds and other institutional investors own 83.72% of the company's stock.

Insiders Place Their Bets

In related news, Director Neil Mehta purchased 2,332,863 shares of Coupang stock in a transaction that occurred on Friday, March 13th. The stock was purchased at an average cost of $18.40 per share, with a total value of $42,924,679.20. Following the completion of the transaction, the director directly owned 55,310,977 shares in the company, valued at approximately $1,017,721,976.80. The trade was a 4.40% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have acquired 7,350,104 shares of company stock valued at $136,566,051 over the last three months. 12.78% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Citigroup cut shares of Coupang from a "buy" rating to a "neutral" rating and decreased their price objective for the stock from $23.00 to $22.20 in a research report on Wednesday, May 6th. Deutsche Bank Aktiengesellschaft cut shares of Coupang from a "buy" rating to a "hold" rating and set a $23.00 price objective for the company. in a research report on Wednesday, May 6th. UBS Group set a $25.00 price objective on shares of Coupang in a research report on Thursday, February 19th. Weiss Ratings cut shares of Coupang from a "sell (d+)" rating to a "sell (d)" rating in a research report on Thursday. Finally, Nomura decreased their price objective on shares of Coupang from $22.00 to $20.00 and set a "neutral" rating for the company in a research report on Monday, March 2nd. Four investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $26.92.

Coupang Price Performance

Shares of CPNG opened at $16.13 on Tuesday. Coupang, Inc. has a 1-year low of $16.10 and a 1-year high of $34.08. The stock has a market cap of $29.48 billion, a PE ratio of -179.15 and a beta of 1.20. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.97 and a quick ratio of 0.76. The firm has a fifty day moving average price of $19.46 and a 200 day moving average price of $22.41.

Coupang (NYSE:CPNG - Get Free Report) last announced its quarterly earnings results on Tuesday, May 5th. The company reported ($0.15) earnings per share for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.06). Coupang had a negative net margin of 0.47% and a negative return on equity of 3.67%. The company had revenue of $8.50 billion during the quarter, compared to analysts' expectations of $8.48 billion. During the same period last year, the firm earned $0.06 earnings per share. Coupang's revenue was up 7.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Coupang, Inc. will post -0.17 EPS for the current year.

Coupang 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.

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