Whitebark Investors LP Raises Stake in Coupang, Inc. $CPNG

Whitebark Investors LP lifted its position in Coupang, Inc. (NYSE:CPNG) by 40.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 868,344 shares of the company’s stock after buying an additional 249,000 shares during the period. Coupang comprises 16.4% of Whitebark Investors LP’s portfolio, making the stock its 3rd largest holding. Whitebark Investors LP’s holdings in Coupang were worth $26,016,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CPNG. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Coupang by 12.8% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 9,531 shares of the company’s stock worth $209,000 after buying an additional 1,080 shares in the last quarter. California State Teachers Retirement System lifted its stake in shares of Coupang by 0.5% in the fourth quarter. California State Teachers Retirement System now owns 85,489 shares of the company’s stock worth $1,879,000 after buying an additional 445 shares in the last quarter. Versant Capital Management Inc lifted its stake in shares of Coupang by 834.2% in the first quarter. Versant Capital Management Inc now owns 5,979 shares of the company’s stock worth $131,000 after buying an additional 5,339 shares in the last quarter. GAMMA Investing LLC lifted its position in Coupang by 2,448.7% during the first quarter. GAMMA Investing LLC now owns 55,154 shares of the company’s stock valued at $1,210,000 after purchasing an additional 52,990 shares during the period. Finally, Rhumbline Advisers boosted its holdings in Coupang by 2.8% in the first quarter. Rhumbline Advisers now owns 1,871,439 shares of the company’s stock worth $41,041,000 after purchasing an additional 51,230 shares during the last quarter. Institutional investors own 83.72% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on CPNG shares. Wall Street Zen cut shares of Coupang from a “buy” rating to a “hold” rating in a report on Sunday, July 20th. Deutsche Bank Aktiengesellschaft cut shares of 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. Nomura upgraded shares of 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. Morgan Stanley raised their target price on shares of Coupang from $32.00 to $35.00 and gave the stock an “overweight” rating in a report on Wednesday, August 20th. Finally, Nomura Securities upgraded shares of Coupang to a “strong-buy” rating in a report on Wednesday, August 6th. One investment 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 data from MarketBeat.com, Coupang currently has a consensus rating of “Moderate Buy” and a consensus target price of $33.11.

Insider Activity

In other news, insider Harold Rogers sold 64,755 shares of the firm’s stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $32.06, for a total transaction of $2,076,045.30. Following the sale, the insider directly owned 449,569 shares in the company, valued at $14,413,182.14. This trade represents a 12.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Benjamin Sun sold 815,797 shares of the firm’s stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $31.88, for a total transaction of $26,007,608.36. Following the sale, the director owned 503,624 shares in the company, valued at $16,055,533.12. The trade was a 61.83% 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 currently owned by insiders.

Coupang Stock Down 1.9%

CPNG opened at $32.21 on Wednesday. The company has a current ratio of 1.09, a quick ratio of 0.84 and a debt-to-equity ratio of 0.18. Coupang, Inc. has a 1-year low of $19.02 and a 1-year high of $34.08. The company has a market capitalization of $58.72 billion, a PE ratio of 161.06 and a beta of 1.15. The firm’s 50 day simple moving average is $30.10 and its two-hundred day simple moving average is $27.47.

Coupang (NYSE:CPNG) last released its quarterly earnings results 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 return on equity of 7.47% and a net margin of 1.13%.The business had revenue of $8.52 billion during the quarter, compared to the consensus estimate of $8.34 billion. During the same quarter in the previous year, the business posted $0.07 earnings per share. The firm’s revenue was up 16.4% on a year-over-year basis. As a group, equities analysts forecast that Coupang, Inc. will post 0.17 EPS 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.