Wedmont Private Capital Has $2.63 Million Stock Holdings in Coupang, Inc. $CPNG

Wedmont Private Capital raised its stake in Coupang, Inc. (NYSE:CPNG) by 126.4% in the second quarter, Holdings Channel reports. The firm owned 139,669 shares of the company’s stock after acquiring an additional 77,970 shares during the quarter. Wedmont Private Capital’s holdings in Coupang were worth $2,626,000 as of its most recent SEC filing.

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

Coupang Price Performance

NYSE:CPNG opened at $15.26 on Monday. Coupang, Inc. has a one year low of $14.92 and a one year high of $34.08. The company has a market cap of $27.43 billion, a P/E ratio of -35.49 and a beta of 1.15. The firm’s fifty day moving average price is $16.70 and its two-hundred day moving average price is $17.73. 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 posted its earnings results on Tuesday, August 4th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.18. The company had revenue of $8.86 billion during the quarter, compared to analysts’ expectations of $8.92 billion. Coupang had a negative net margin of 2.16% and a negative return on equity of 8.77%. Coupang’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.02 EPS. Equities analysts expect that Coupang, Inc. will post -0.46 earnings per share for the current year.

Insider Activity

In other Coupang news, 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 value of $88,855.90. Following the transaction, the chief accounting officer directly owned 181,915 shares of the company’s stock, valued at $2,928,831.50. This represents a 2.94% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 that occurred on Monday, August 10th. The stock was sold at an average price of $16.18, for a total transaction of $3,108,339.80. Following the sale, 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. Additional details regarding this sale are available in the official SEC disclosure. 12.83% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of Coupang from a “hold” rating to a “buy” rating and cut their price target for the company from $23.00 to $21.50 in a research note on Wednesday, August 5th. Barclays reaffirmed an “overweight” rating and issued a $29.00 target price on shares of Coupang in a report on Tuesday, July 7th. Mizuho set a $22.00 price target on Coupang in a report on Wednesday, August 5th. Bank of America dropped their price objective on Coupang from $27.00 to $24.00 and set a “buy” rating on the stock in a research note on Wednesday, August 5th. Finally, The Goldman Sachs Group set a $31.00 price objective on Coupang in a research report on Thursday, July 9th. Six investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Coupang currently has an average rating of “Hold” and a consensus target price of $25.39.

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.