Ashoka WhiteOak Capital Pte Ltd Acquires 252,020 Shares of Coupang, Inc. $CPNG

Ashoka WhiteOak Capital Pte Ltd raised its holdings in Coupang, Inc. (NYSE:CPNG) by 404.1% during the fourth quarter, HoldingsChannel reports. The firm owned 314,383 shares of the company’s stock after buying an additional 252,020 shares during the period. Coupang comprises about 2.9% of Ashoka WhiteOak Capital Pte Ltd’s investment portfolio, making the stock its 6th biggest holding. Ashoka WhiteOak Capital Pte Ltd’s holdings in Coupang were worth $7,586,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA increased its stake in Coupang by 2.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 11,215,142 shares of the company’s stock valued at $361,128,000 after purchasing an additional 318,115 shares during the period. TRB Advisors LP acquired a new position in Coupang in the third quarter valued at $1,863,000. New York State Common Retirement Fund increased its stake in Coupang by 18.5% in the third quarter. New York State Common Retirement Fund now owns 728,861 shares of the company’s stock valued at $23,469,000 after purchasing an additional 113,950 shares during the period. Rit Capital Partners PLC increased its stake in Coupang by 3.5% in the third quarter. Rit Capital Partners PLC now owns 2,700,750 shares of the company’s stock valued at $86,937,000 after purchasing an additional 91,550 shares during the period. Finally, Vanguard Group Inc. increased its stake in Coupang by 3.3% in the fourth quarter. Vanguard Group Inc. now owns 29,547,637 shares of the company’s stock valued at $697,029,000 after purchasing an additional 951,812 shares during the period. 83.72% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CPNG has been the topic of a number of recent research reports. Wall Street Zen lowered shares of Coupang from a “hold” rating to a “strong sell” rating in a research note on Saturday, March 14th. Mizuho dropped their price objective on shares of Coupang from $32.00 to $25.00 and set a “neutral” rating on the stock in a research note on Friday, February 27th. Barclays lifted their price objective on shares of Coupang from $24.00 to $30.00 and gave the company an “overweight” rating in a research note on Thursday, April 23rd. Citigroup lowered shares of Coupang from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $23.00 to $22.20 in a research note on Wednesday, May 6th. Finally, Weiss Ratings lowered shares of Coupang from a “sell (d+)” rating to a “sell (d)” rating in a research note on Thursday. Four research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $26.92.

Insider Activity

In other news, Director Neil Mehta purchased 3,000,000 shares of the company’s stock in a transaction dated Thursday, March 12th. The shares were acquired at an average cost of $18.68 per share, for a total transaction of $56,040,000.00. Following the completion of the purchase, the director directly owned 52,978,114 shares in the company, valued at $989,631,169.52. The trade was a 6.00% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have bought 7,350,104 shares of company stock worth $136,566,051 in the last quarter. Insiders own 12.78% of the company’s stock.

Coupang Trading Down 5.0%

Shares of Coupang stock opened at $16.13 on Tuesday. Coupang, Inc. has a 52-week low of $16.10 and a 52-week high of $34.08. The company has a quick ratio of 0.76, a current ratio of 0.97 and a debt-to-equity ratio of 0.16. The company’s 50-day simple moving average is $19.46 and its 200-day simple moving average is $22.41. The firm has a market cap of $29.48 billion, a price-to-earnings ratio of -179.15 and a beta of 1.20.

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

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.