Coupang, Inc. (NYSE:CPNG) Shares Bought by Nellore Capital Management LLC

Nellore Capital Management LLC boosted its stake in Coupang, Inc. (NYSE:CPNG) by 6.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,971,981 shares of the company’s stock after purchasing an additional 174,746 shares during the quarter. Coupang comprises 8.5% of Nellore Capital Management LLC’s portfolio, making the stock its 5th largest position. Nellore Capital Management LLC’s holdings in Coupang were worth $65,324,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of CPNG. Norges Bank purchased a new stake in Coupang during the fourth quarter valued at about $404,896,000. Price T Rowe Associates Inc. MD lifted its holdings in Coupang by 29.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 75,686,648 shares of the company’s stock worth $1,663,594,000 after buying an additional 17,123,637 shares in the last quarter. Durable Capital Partners LP grew its stake in shares of Coupang by 13.6% during the fourth quarter. Durable Capital Partners LP now owns 28,636,287 shares of the company’s stock valued at $629,426,000 after acquiring an additional 3,420,133 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its position in shares of Coupang by 106.5% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 5,778,763 shares of the company’s stock worth $127,017,000 after acquiring an additional 2,979,981 shares during the last quarter. Finally, Coronation Fund Managers Ltd. increased its position in shares of Coupang by 53.3% during the fourth quarter. Coronation Fund Managers Ltd. now owns 7,383,611 shares of the company’s stock worth $162,292,000 after acquiring an additional 2,566,581 shares during the last quarter. 83.72% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Coupang

In related news, VP Pranam Kolari sold 9,347 shares of the stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $23.85, for a total transaction of $222,925.95. Following the completion of the transaction, the vice president now directly owns 177,106 shares of the company’s stock, valued at approximately $4,223,978.10. This represents a 5.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Svf Investments (Uk) Ltd sold 30,000,000 shares of the business’s stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $25.75, for a total value of $772,500,000.00. Following the sale, the insider now owns 319,542,259 shares of the company’s stock, valued at approximately $8,228,213,169.25. This represents a 8.58% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 30,259,347 shares of company stock valued at $778,580,426. Corporate insiders own 13.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft raised Coupang from a “hold” rating to a “buy” rating and set a $28.50 target price on the stock in a research report on Wednesday, February 26th. Barclays upped their price target on shares of Coupang from $35.00 to $36.00 and gave the company an “overweight” rating in a report on Thursday, May 8th. Finally, Mizuho raised shares of Coupang to a “hold” rating in a report on Friday, April 18th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $29.19.

Coupang Price Performance

NYSE CPNG opened at $26.58 on Wednesday. The stock’s 50-day moving average is $22.73 and its two-hundred day moving average is $23.43. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.13 and a quick ratio of 0.86. Coupang, Inc. has a fifty-two week low of $18.16 and a fifty-two week high of $27.03. The firm has a market cap of $47.99 billion, a P/E ratio of 46.63, a price-to-earnings-growth ratio of 52.20 and a beta of 1.08.

Coupang (NYSE:CPNG) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.01). Coupang had a net margin of 3.57% and a return on equity of 11.52%. The company had revenue of $7.91 billion during the quarter, compared to the consensus estimate of $8.02 billion. Coupang’s revenue was up 11.2% on a year-over-year basis. On average, analysts anticipate that Coupang, Inc. will post 0.17 earnings per share for the current fiscal year.

About Coupang

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.