Coupang, Inc. $CPNG Shares Bought by Nellore Capital Management LLC

Nellore Capital Management LLC boosted its stake in shares of Coupang, Inc. (NYSE:CPNG) by 12.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,760,975 shares of the company’s stock after purchasing an additional 420,000 shares during the period. Coupang makes up about 7.3% of Nellore Capital Management LLC’s portfolio, making the stock its 7th biggest position. Nellore Capital Management LLC owned approximately 0.21% of Coupang worth $65,328,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. EverSource Wealth Advisors LLC grew its holdings in shares of Coupang by 72.6% during the second quarter. EverSource Wealth Advisors LLC now owns 3,316 shares of the company’s stock valued at $99,000 after buying an additional 1,395 shares during the last quarter. Baird Financial Group Inc. raised its stake in Coupang by 52.8% in the 2nd quarter. Baird Financial Group Inc. now owns 23,471 shares of the company’s stock worth $703,000 after acquiring an additional 8,107 shares during the last quarter. Cerity Partners LLC lifted its position in Coupang by 48.1% during the 2nd quarter. Cerity Partners LLC now owns 45,252 shares of the company’s stock worth $1,356,000 after acquiring an additional 14,703 shares during the period. State Street Corp lifted its position in Coupang by 8.4% during the 2nd quarter. State Street Corp now owns 15,641,775 shares of the company’s stock worth $468,628,000 after acquiring an additional 1,210,801 shares during the period. Finally, AXA S.A. purchased a new stake in Coupang during the 2nd quarter valued at about $411,000. Institutional investors and hedge funds own 83.72% of the company’s stock.

Analysts Set New Price Targets

CPNG has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft raised Coupang from a “hold” rating to a “buy” rating and cut their price objective for the company from $23.00 to $21.50 in a report on Wednesday, August 5th. Mizuho set a $22.00 target price on Coupang in a research report on Wednesday, August 5th. Barclays reiterated an “overweight” rating and issued a $29.00 price target on shares of Coupang in a report on Tuesday, July 7th. Weiss Ratings reissued a “sell (d)” rating on shares of Coupang in a research report on Tuesday, August 4th. Finally, The Goldman Sachs Group set a $31.00 price objective on shares of Coupang in a research note on Thursday, July 9th. Six investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $25.39.

Coupang Stock Performance

NYSE CPNG opened at $15.99 on Thursday. The stock has a 50-day simple moving average of $16.77 and a two-hundred day simple moving average of $17.75. The firm has a market capitalization of $28.75 billion, a P/E ratio of -37.20 and a beta of 1.15. Coupang, Inc. has a fifty-two week low of $14.92 and a fifty-two week high of $34.08. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.68 and a current ratio of 0.87.

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

Insider Buying and Selling

In other Coupang news, insider Harold Rogers sold 192,110 shares of the business’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 completion of the transaction, the insider directly owned 740,931 shares of the company’s stock, valued at approximately $11,988,263.58. The trade was a 20.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Jonathan D. Lee sold 5,519 shares of the company’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $16.10, for a total value of $88,855.90. Following the completion of the sale, the chief accounting officer owned 181,915 shares in the company, valued at approximately $2,928,831.50. This represents a 2.94% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 12.83% of the company’s stock.

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.