Capital International Investors Grows Position in Coupang, Inc. $CPNG

Key Points

• Capital International Investors increased its Coupang stake by 20.4% in the fourth quarter, buying 6.98 million additional shares and ending with 41.1 million shares worth about $970.3 million.
• Other major institutional investors also added to or established positions in CPNG, and institutions now own 83.72% of the stock.
• Coupang’s latest quarterly results missed EPS expectations, with a loss of $0.15 per share versus the $0.09 estimate, though revenue of $8.50 billion slightly topped forecasts and rose 7.5% year over year.

Capital International Investors boosted its stake in shares of Coupang, Inc. (NYSE:CPNG - Free Report) by 20.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 41,131,036 shares of the company's stock after purchasing an additional 6,977,942 shares during the period. Capital International Investors owned about 2.25% of Coupang worth $970,340,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Dodge & Cox grew its stake in Coupang by 0.7% during the third quarter. Dodge & Cox now owns 46,947,720 shares of the company's stock valued at $1,511,717,000 after acquiring an additional 333,200 shares in the last quarter. Vanguard Group Inc. grew its holdings in Coupang by 3.3% during the 4th quarter. Vanguard Group Inc. now owns 29,547,637 shares of the company's stock valued at $697,029,000 after buying an additional 951,812 shares in the last quarter. Durable Capital Partners LP grew its holdings in Coupang by 0.4% during the 3rd quarter. Durable Capital Partners LP now owns 24,833,189 shares of the company's stock valued at $799,629,000 after buying an additional 89,207 shares in the last quarter. Geode Capital Management LLC grew its holdings in Coupang by 7.5% during the 4th quarter. Geode Capital Management LLC now owns 24,327,724 shares of the company's stock valued at $574,068,000 after buying an additional 1,689,293 shares in the last quarter. Finally, Norges Bank bought a new stake in Coupang in the fourth quarter worth $498,333,000. 83.72% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CPNG. Weiss Ratings cut shares of Coupang from a "sell (d+)" rating to a "sell (d)" rating in a research report on Thursday, May 7th. Sanford C. Bernstein restated an "underperform" rating on shares of Coupang in a research report on Monday, March 2nd. Deutsche Bank Aktiengesellschaft cut shares of Coupang from a "buy" rating to a "hold" rating and set a $23.00 target price on the stock. in a research report on Wednesday, May 6th. Nomura lowered their price objective on Coupang from $22.00 to $20.00 and set a "neutral" rating for the company in a research note on Monday, March 2nd. Finally, Barclays raised their price objective on Coupang from $24.00 to $30.00 and gave the company an "overweight" rating in a research note on Thursday, April 23rd. Four analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Coupang currently has an average rating of "Hold" and an average price target of $26.92.

Coupang Price Performance

Coupang stock opened at $15.36 on Monday. Coupang, Inc. has a 1 year low of $15.03 and a 1 year high of $34.08. The stock has a market cap of $27.56 billion, a price-to-earnings ratio of -170.59 and a beta of 1.13. The firm has a 50-day moving average of $18.26 and a two-hundred day moving average of $20.51. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.97 and a quick ratio of 0.76.

Coupang (NYSE:CPNG - Get Free Report) last announced its quarterly earnings results on Tuesday, May 5th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate 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 firm 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 business posted $0.06 EPS. The business's quarterly revenue was up 7.5% on a year-over-year basis. On average, research analysts forecast that Coupang, Inc. will post -0.17 earnings per share for the current year.

Insider Activity at Coupang

In other Coupang news, Director Neil Mehta purchased 2,332,863 shares of Coupang stock in a transaction dated Friday, March 13th. The stock was acquired at an average price of $18.40 per share, for a total transaction of $42,924,679.20. Following the acquisition, the director owned 55,310,977 shares in the company, valued at $1,017,721,976.80. This trade represents a 4.40% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last three months, insiders have bought 7,350,104 shares of company stock valued at $136,566,051. Insiders own 12.83% of the company's stock.

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.

Want to see what other hedge funds are holding CPNG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Coupang, Inc. (NYSE:CPNG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.