Nellore Capital Management LLC Acquires 420,000 Shares of Coupang, Inc. $CPNG

Nellore Capital Management LLC lifted its holdings in Coupang, Inc. (NYSE:CPNG) by 12.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,760,975 shares of the company’s stock after purchasing an additional 420,000 shares during the period. Coupang comprises about 7.3% of Nellore Capital Management LLC’s portfolio, making the stock its 7th largest holding. Nellore Capital Management LLC’s holdings in Coupang were worth $65,328,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of CPNG. Dodge & Cox grew its holdings in Coupang by 4.9% in the fourth quarter. Dodge & Cox now owns 49,233,320 shares of the company’s stock valued at $1,161,414,000 after purchasing an additional 2,285,600 shares during the period. Capital International Investors raised its stake in shares of Coupang by 20.4% during the 4th quarter. Capital International Investors now owns 41,131,036 shares of the company’s stock worth $970,340,000 after buying an additional 6,977,942 shares during the period. Tiger Global Management LLC raised its stake in shares of Coupang by 31.7% during the 1st quarter. Tiger Global Management LLC now owns 34,595,407 shares of the company’s stock worth $653,161,000 after buying an additional 8,328,148 shares during the period. Durable Capital Partners LP lifted its position in shares of Coupang by 0.4% during the 3rd quarter. Durable Capital Partners LP now owns 24,833,189 shares of the company’s stock valued at $799,629,000 after buying an additional 89,207 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Coupang by 7.5% during the 4th quarter. Geode Capital Management LLC now owns 24,327,724 shares of the company’s stock valued at $574,068,000 after buying an additional 1,689,293 shares in the last quarter. Institutional investors and hedge funds own 83.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on CPNG. Barclays reissued an “overweight” rating and issued a $29.00 price target on shares of Coupang in a research note on Tuesday, July 7th. Bank of America decreased their price objective on shares of Coupang from $27.00 to $24.00 and set a “buy” rating on the stock in a report on Wednesday, August 5th. Weiss Ratings reiterated a “sell (d)” rating on shares of Coupang in a research report on Tuesday, August 4th. The Goldman Sachs Group set a $31.00 target price on shares of Coupang in a research report on Thursday, July 9th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Coupang from a “hold” rating to a “buy” rating and cut their target price for the stock from $23.00 to $21.50 in a research note on Wednesday, August 5th. Six equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, Coupang currently has a consensus rating of “Hold” and an average target price of $25.39.

Coupang Stock Performance

NYSE CPNG opened at $15.99 on Thursday. The company has a market cap of $28.75 billion, a PE ratio of -37.20 and a beta of 1.15. The stock’s 50 day simple moving average is $16.77 and its 200-day simple moving average is $17.75. Coupang, Inc. has a 1-year low of $14.92 and a 1-year high of $34.08. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.87 and a quick ratio of 0.68.

Coupang (NYSE:CPNG) last issued 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 return on equity of 8.77% and a negative net margin of 2.16%.The firm had revenue of $8.86 billion during the quarter, compared to analysts’ expectations of $8.92 billion. During the same period in the previous year, the business earned $0.02 earnings per share. The firm’s revenue for the quarter was up 3.9% on a year-over-year basis. As a group, equities research analysts anticipate that Coupang, Inc. will post -0.46 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Harold Rogers sold 192,110 shares of the company’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 sale, the insider owned 740,931 shares of the company’s stock, valued at $11,988,263.58. This represents a 20.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Jonathan D. Lee sold 5,519 shares of the stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $16.10, for a total transaction of $88,855.90. Following the completion of the sale, the chief accounting officer owned 181,915 shares of the company’s stock, valued at $2,928,831.50. This trade represents a 2.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 12.83% of the company’s stock.

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.