Kerrisdale Advisers LLC Decreases Stock Position in Coupang, Inc. $CPNG

Kerrisdale Advisers LLC cut its position in Coupang, Inc. (NYSE:CPNG) by 70.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 43,693 shares of the company’s stock after selling 106,597 shares during the period. Kerrisdale Advisers LLC’s holdings in Coupang were worth $759,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. Sunbelt Securities Inc. purchased a new position in Coupang in the 3rd quarter valued at $26,000. Reflection Asset Management acquired a new stake in shares of Coupang in the fourth quarter valued at about $28,000. Webster Bank N. A. lifted its stake in shares of Coupang by 325.8% in the first quarter. Webster Bank N. A. now owns 1,699 shares of the company’s stock worth $32,000 after buying an additional 1,300 shares in the last quarter. Main Street Group LTD purchased a new position in shares of Coupang in the first quarter worth about $40,000. Finally, Aster Capital Management DIFC Ltd acquired a new position in Coupang during the fourth quarter worth about $42,000. 83.72% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CPNG has been the subject of several recent research reports. The Goldman Sachs Group set a $31.00 price target on Coupang in a report on Thursday, July 9th. Citigroup downgraded Coupang from a “buy” rating to a “neutral” rating and reduced their target price for the company from $23.00 to $22.20 in a research report on Wednesday, May 6th. Mizuho set a $22.00 price target on Coupang in a research note on Wednesday, August 5th. Barclays reiterated an “overweight” rating and set a $29.00 price target on shares of Coupang in a report on Tuesday, July 7th. Finally, Deutsche Bank Aktiengesellschaft raised Coupang from a “hold” rating to a “buy” rating and cut their price objective for the stock from $23.00 to $21.50 in a research report on Wednesday, August 5th. Six equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Coupang presently has an average rating of “Hold” and a consensus price target of $25.39.

Insider Buying and Selling at Coupang

In related news, CAO Jonathan D. Lee sold 5,519 shares of the firm’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $16.10, for a total transaction of $88,855.90. Following the completion of the transaction, the chief accounting officer directly owned 181,915 shares in the company, valued at $2,928,831.50. This trade represents a 2.94% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Harold Rogers sold 192,110 shares of the firm’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $16.18, for a total value of $3,108,339.80. Following the transaction, the insider owned 740,931 shares of the company’s stock, valued at $11,988,263.58. This trade represents a 20.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 12.83% of the stock is currently owned by insiders.

Coupang Stock Performance

NYSE:CPNG opened at $16.51 on Monday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.68 and a current ratio of 0.87. The stock has a market capitalization of $29.68 billion, a P/E ratio of -38.40 and a beta of 1.13. The company has a 50 day moving average price of $16.87 and a 200 day moving average price of $17.79. Coupang, Inc. has a fifty-two week low of $14.92 and a fifty-two week high of $34.08.

Coupang (NYSE:CPNG) last released its quarterly 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. Coupang had a negative return on equity of 8.77% and a negative net margin of 2.16%.The company had revenue of $8.86 billion for the quarter, compared to analysts’ expectations of $8.92 billion. During the same period in the prior year, the firm earned $0.02 earnings per share. The firm’s revenue was up 3.9% compared to the same quarter last year. Equities research analysts forecast that Coupang, Inc. will post -0.46 EPS 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.