Coupang, Inc. $CPNG Shares Acquired by Geode Capital Management LLC

Geode Capital Management LLC increased its stake in Coupang, Inc. (NYSE:CPNG) by 7.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 24,327,724 shares of the company’s stock after acquiring an additional 1,689,293 shares during the quarter. Geode Capital Management LLC’s holdings in Coupang were worth $574,068,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the stock. Dodge & Cox grew its holdings in shares of Coupang by 0.7% in the 3rd quarter. Dodge & Cox now owns 46,947,720 shares of the company’s stock worth $1,511,717,000 after acquiring an additional 333,200 shares during the last quarter. Capital International Investors grew its holdings in shares of Coupang by 7.6% in the 3rd quarter. Capital International Investors now owns 34,153,094 shares of the company’s stock worth $1,099,792,000 after acquiring an additional 2,421,089 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Coupang by 3.3% in the 4th quarter. Vanguard Group Inc. now owns 29,547,637 shares of the company’s stock worth $697,029,000 after acquiring an additional 951,812 shares during the last quarter. Durable Capital Partners LP grew its holdings in shares of Coupang by 0.4% in the 3rd quarter. Durable Capital Partners LP now owns 24,833,189 shares of the company’s stock worth $799,629,000 after acquiring an additional 89,207 shares during the last quarter. Finally, State Street Corp grew its holdings in shares of Coupang by 21.2% in the 3rd quarter. State Street Corp now owns 18,964,373 shares of the company’s stock worth $610,653,000 after acquiring an additional 3,322,598 shares during the last quarter. 83.72% of the stock is currently owned by institutional investors and hedge funds.

Coupang Stock Performance

Shares of CPNG stock opened at $16.61 on Friday. Coupang, Inc. has a 1-year low of $15.03 and a 1-year high of $34.08. The company has a current ratio of 0.97, a quick ratio of 0.76 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $29.81 billion, a price-to-earnings ratio of -184.51 and a beta of 1.20. The stock’s fifty day simple moving average is $18.53 and its 200-day simple moving average is $20.99.

Coupang (NYSE:CPNG) last issued its quarterly earnings results on Tuesday, May 5th. The company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.06). Coupang had a negative net margin of 0.47% and a negative return on equity of 3.67%. The business had revenue of $8.50 billion for the quarter, compared to analysts’ expectations of $8.48 billion. During the same quarter in the prior year, the firm posted $0.06 EPS. The business’s quarterly revenue was up 7.5% compared to the same quarter last year. On average, sell-side analysts predict that Coupang, Inc. will post -0.17 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Neil Mehta bought 3,000,000 shares of the stock in a transaction on Thursday, March 12th. The shares were purchased at an average price of $18.68 per share, for a total transaction of $56,040,000.00. Following the completion of the purchase, the director directly owned 52,978,114 shares of the company’s stock, valued at $989,631,169.52. This trade represents a 6.00% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders bought a total of 7,350,104 shares of company stock valued at $136,566,051 in the last quarter. Insiders own 12.78% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on CPNG shares. Weiss Ratings downgraded Coupang from a “sell (d+)” rating to a “sell (d)” rating in a report on Thursday, May 7th. Sanford C. Bernstein reiterated an “underperform” rating on shares of Coupang in a report on Monday, March 2nd. Morgan Stanley lowered their price target on Coupang from $31.00 to $29.00 and set an “overweight” rating on the stock in a report on Monday, March 2nd. Nomura lowered their price target on Coupang from $22.00 to $20.00 and set a “neutral” rating on the stock in a report on Monday, March 2nd. Finally, Mizuho lowered their price target on Coupang from $32.00 to $25.00 and set a “neutral” rating on the stock in a report on Friday, February 27th. Four investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $26.92.

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.