Matthews International Capital Management LLC Decreases Position in Coupang, Inc. $CPNG

Matthews International Capital Management LLC decreased its position in Coupang, Inc. (NYSE:CPNG) by 50.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 420,857 shares of the company’s stock after selling 431,342 shares during the period. Coupang makes up about 2.9% of Matthews International Capital Management LLC’s portfolio, making the stock its 14th biggest holding. Matthews International Capital Management LLC’s holdings in Coupang were worth $12,609,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Dodge & Cox raised its stake in Coupang by 101.6% in the 1st quarter. Dodge & Cox now owns 40,784,920 shares of the company’s stock worth $894,413,000 after acquiring an additional 20,555,600 shares during the last quarter. Duquesne Family Office LLC raised its stake in Coupang by 4.5% in the 1st quarter. Duquesne Family Office LLC now owns 9,302,634 shares of the company’s stock worth $204,007,000 after acquiring an additional 399,985 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in Coupang by 436.6% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 8,686,580 shares of the company’s stock worth $190,497,000 after acquiring an additional 7,067,830 shares during the last quarter. GQG Partners LLC purchased a new position in Coupang in the 1st quarter worth $168,127,000. Finally, Coronation Fund Managers Ltd. raised its stake in Coupang by 2.4% in the 1st quarter. Coronation Fund Managers Ltd. now owns 7,559,777 shares of the company’s stock worth $165,786,000 after acquiring an additional 176,166 shares during the last quarter. Hedge funds and other institutional investors own 83.72% of the company’s stock.

Insider Activity

In other news, insider Harold Rogers sold 64,755 shares of the firm’s stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $32.06, for a total transaction of $2,076,045.30. Following the sale, the insider directly owned 449,569 shares in the company, valued at $14,413,182.14. This trade represents a 12.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Pedro Franceschi sold 21,428 shares of the firm’s stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $32.05, for a total value of $686,767.40. The disclosure for this sale can be found here. Over the last three months, insiders sold 988,983 shares of company stock worth $31,203,966. 12.78% of the stock is currently owned by corporate insiders.

Coupang Price Performance

Shares of CPNG opened at $32.36 on Friday. The business’s 50-day moving average is $30.23 and its two-hundred day moving average is $27.64. The company has a market capitalization of $59.00 billion, a P/E ratio of 161.82 and a beta of 1.18. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.84 and a current ratio of 1.09. Coupang, Inc. has a fifty-two week low of $19.02 and a fifty-two week high of $34.08.

Coupang (NYSE:CPNG) last posted its earnings results on Tuesday, August 5th. The company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.05). Coupang had a net margin of 1.13% and a return on equity of 7.47%. The business had revenue of $8.52 billion for the quarter, compared to analyst estimates of $8.34 billion. During the same quarter last year, the business earned $0.07 earnings per share. Coupang’s revenue was up 16.4% on a year-over-year basis. Research analysts predict that Coupang, Inc. will post 0.17 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on CPNG shares. Deutsche Bank Aktiengesellschaft lowered Coupang from a “buy” rating to a “hold” rating and set a $27.00 target price for the company. in a research note on Wednesday, August 6th. Morgan Stanley raised their target price on Coupang from $32.00 to $35.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 20th. Arete Research started coverage on Coupang in a research report on Thursday, September 18th. They set a “buy” rating and a $40.00 price target on the stock. Nomura Securities raised Coupang to a “strong-buy” rating in a research report on Wednesday, August 6th. Finally, Wall Street Zen downgraded Coupang from a “buy” rating to a “hold” rating in a research report on Sunday, July 20th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Coupang presently has an average rating of “Moderate Buy” and a consensus price target of $33.11.

Coupang Profile

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.