Light Street Capital Management LLC Purchases 973,043 Shares of Coupang, Inc. $CPNG

Light Street Capital Management LLC increased its position in shares of Coupang, Inc. (NYSE:CPNG) by 92.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,025,000 shares of the company’s stock after purchasing an additional 973,043 shares during the period. Coupang comprises about 3.9% of Light Street Capital Management LLC’s investment portfolio, making the stock its 10th largest position. Light Street Capital Management LLC’s holdings in Coupang were worth $35,174,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of CPNG. Sunbelt Securities Inc. bought a new position in Coupang in the third quarter worth $26,000. Reflection Asset Management bought a new stake in Coupang in the 4th quarter valued at $28,000. Webster Bank N. A. increased its holdings in Coupang by 325.8% in the 1st quarter. Webster Bank N. A. now owns 1,699 shares of the company’s stock valued at $32,000 after buying an additional 1,300 shares during the period. Main Street Group LTD acquired a new position in shares of Coupang in the 1st quarter valued at $40,000. Finally, Aster Capital Management DIFC Ltd acquired a new position in shares of Coupang in the 4th quarter valued at $42,000. 83.72% of the stock is currently owned by institutional investors and hedge funds.

Coupang Price Performance

CPNG stock traded down $0.47 during trading on Tuesday, hitting $14.82. 20,494,052 shares of the stock traded hands, compared to its average volume of 22,433,451. The stock has a market cap of $26.65 billion, a price-to-earnings ratio of -34.48 and a beta of 1.15. Coupang, Inc. has a one year low of $14.70 and a one year high of $34.08. The company has a current ratio of 0.87, a quick ratio of 0.68 and a debt-to-equity ratio of 0.21. The company has a 50 day simple moving average of $16.65 and a 200 day simple moving average of $17.71.

Coupang (NYSE:CPNG) last issued its quarterly earnings data on Tuesday, August 4th. The company reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.27) by $0.18. The firm had revenue of $8.86 billion for 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%. The company’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.02 earnings per share. Equities analysts expect that Coupang, Inc. will post -0.46 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CAO Jonathan D. Lee sold 5,519 shares of the stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $16.10, for a total transaction of $88,855.90. Following the sale, the chief accounting officer directly owned 181,915 shares in the company, 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 at the SEC website. 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 on 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 sale, the insider directly 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 disclosure for this sale is available in the SEC filing. 12.83% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have recently weighed in on CPNG. Bank of America decreased their target price on shares of Coupang from $27.00 to $24.00 and set a “buy” rating on the stock in a research report on Wednesday, August 5th. Deutsche Bank Aktiengesellschaft raised shares of Coupang from a “hold” rating to a “buy” rating and dropped their price target for the stock from $23.00 to $21.50 in a research report on Wednesday, August 5th. The Goldman Sachs Group set a $31.00 price objective on Coupang in a report on Thursday, July 9th. Mizuho set a $22.00 price objective on Coupang in a research note on Wednesday, August 5th. Finally, Barclays reissued an “overweight” rating and issued a $29.00 target price on shares of Coupang in a report on Tuesday, July 7th. Six research 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’s stock. According to MarketBeat, Coupang currently has an average rating of “Hold” and an average target price of $25.39.

Coupang Company 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.