Exchange Traded Concepts LLC Increases Stake in Coupang, Inc. $CPNG

Key Points

• Exchange Traded Concepts LLC raised its stake in Coupang, Inc. by 272.3% during the second quarter, acquiring an additional 445,977 shares worth approximately $18.27 million.
• Coupang reported a net margin of 1.13% and a revenue of $8.52 billion for the last quarter, surpassing analysts' expectations as earnings per share missed by $0.05.
• Analysts have varied views on Coupang, with Nomura upgrading it to a "buy" rating and setting a target price of $35, while Deutsche Bank downgraded it to "hold" with a target of $27.

Exchange Traded Concepts LLC boosted its stake in shares of Coupang, Inc. (NYSE:CPNG - Free Report) by 272.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 609,779 shares of the company's stock after purchasing an additional 445,977 shares during the quarter. Exchange Traded Concepts LLC's holdings in Coupang were worth $18,269,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CPNG. Dodge & Cox boosted its position in shares of Coupang by 101.6% in the first quarter. Dodge & Cox now owns 40,784,920 shares of the company's stock valued at $894,413,000 after acquiring an additional 20,555,600 shares during the period. GQG Partners LLC acquired a new position in Coupang during the first quarter worth about $168,127,000. Massachusetts Financial Services Co. MA raised its holdings in Coupang by 436.6% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 8,686,580 shares of the company's stock valued at $190,497,000 after buying an additional 7,067,830 shares during the last quarter. Nuveen LLC bought a new position in Coupang in the 1st quarter valued at approximately $75,775,000. Finally, Assenagon Asset Management S.A. raised its holdings in Coupang by 204.7% in the 1st quarter. Assenagon Asset Management S.A. now owns 3,352,002 shares of the company's stock valued at $73,509,000 after buying an additional 2,251,819 shares during the last quarter. 83.72% of the stock is owned by institutional investors.

Insider Activity at Coupang

In other news, VP Pranam Kolari sold 11,653 shares of Coupang stock in a transaction on Monday, August 4th. The stock was sold at an average price of $29.14, for a total transaction of $339,568.42. Following the sale, the vice president directly owned 158,676 shares in the company, valued at $4,623,818.64. The trade was a 6.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Harold Rogers sold 64,755 shares of Coupang stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $32.06, for a total value of $2,076,045.30. Following the sale, the insider owned 449,569 shares in the company, valued at $14,413,182.14. The trade was a 12.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 988,983 shares of company stock worth $31,203,966. 12.78% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on CPNG shares. Wall Street Zen cut Coupang from a "buy" rating to a "hold" rating in a report on Sunday, July 20th. Nomura Securities upgraded Coupang to a "strong-buy" rating in a report on Wednesday, August 6th. Nomura upgraded Coupang from a "neutral" rating to a "buy" rating and set a $35.00 target price on the stock in a report on Wednesday, August 6th. Deutsche Bank Aktiengesellschaft cut Coupang from a "buy" rating to a "hold" rating and set a $27.00 target price on the stock. in a report on Wednesday, August 6th. Finally, Arete Research started coverage on Coupang in a report on Thursday. They issued a "buy" rating and a $40.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, Coupang has a consensus rating of "Moderate Buy" and an average target price of $33.11.

Coupang Stock Down 1.6%

NYSE:CPNG traded down $0.52 during trading hours on Monday, hitting $32.34. 4,089,458 shares of the company traded hands, compared to its average volume of 10,427,522. The company has a quick ratio of 0.84, a current ratio of 1.09 and a debt-to-equity ratio of 0.18. The firm's 50-day simple moving average is $29.94 and its 200-day simple moving average is $27.02. Coupang, Inc. has a one year low of $19.02 and a one year high of $34.08. The company has a market cap of $58.95 billion, a PE ratio of 161.83 and a beta of 1.15.

Coupang (NYSE:CPNG - Get Free Report) last issued 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 for the quarter, compared to the consensus estimate of $8.34 billion. During the same quarter last year, the business posted $0.07 earnings per share. Coupang's revenue was up 16.4% on a year-over-year basis. Equities analysts predict that Coupang, Inc. will post 0.17 earnings per share for the current year.

Coupang Company 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.