Coronation Fund Managers Ltd. Has $165.79 Million Stake in Coupang, Inc. (NYSE:CPNG)

Key Points

• Coronation Fund Managers Ltd. boosted its stake in Coupang, Inc. by 2.4%, now holding approximately 7.56 million shares worth about $165.79 million, making it the largest position in their portfolio.
• Several institutional investors, including Price T Rowe Associates and Durable Capital Partners, have also significantly increased their holdings in Coupang during the fourth quarter, indicating growing confidence in the company's prospects.
• Analysts have mixed views on Coupang, with ratings ranging from "strong buy" to "hold" and a consensus target price of $30.57, following a quarterly earnings report that missed expected earnings but showed revenue growth.

Coronation Fund Managers Ltd. increased its stake in shares of Coupang, Inc. (NYSE:CPNG - Free Report) by 2.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,559,777 shares of the company's stock after buying an additional 176,166 shares during the quarter. Coupang comprises approximately 8.9% of Coronation Fund Managers Ltd.'s holdings, making the stock its largest position. Coronation Fund Managers Ltd. owned 0.42% of Coupang worth $165,786,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD lifted its holdings in shares of Coupang by 29.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 75,686,648 shares of the company's stock valued at $1,663,594,000 after buying an additional 17,123,637 shares during the period. Durable Capital Partners LP increased its position in Coupang by 13.6% in the 4th quarter. Durable Capital Partners LP now owns 28,636,287 shares of the company's stock worth $629,426,000 after purchasing an additional 3,420,133 shares during the last quarter. Dragoneer Investment Group LLC increased its position in Coupang by 9.0% in the 4th quarter. Dragoneer Investment Group LLC now owns 20,541,277 shares of the company's stock worth $451,497,000 after purchasing an additional 1,690,826 shares during the last quarter. Dodge & Cox boosted its stake in shares of Coupang by 0.6% during the 4th quarter. Dodge & Cox now owns 20,229,320 shares of the company's stock worth $444,640,000 after acquiring an additional 123,900 shares in the last quarter. Finally, HMI Capital Management L.P. boosted its stake in shares of Coupang by 4.2% during the 4th quarter. HMI Capital Management L.P. now owns 11,662,498 shares of the company's stock worth $256,342,000 after acquiring an additional 470,000 shares in the last quarter. Institutional investors and hedge funds own 83.72% of the company's stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Mizuho upgraded Coupang to a "hold" rating in a research note on Friday, April 18th. Barclays raised their target price on Coupang from $35.00 to $36.00 and gave the stock an "overweight" rating in a research report on Thursday, May 8th. Deutsche Bank Aktiengesellschaft downgraded Coupang from a "buy" rating to a "hold" rating and set a $27.00 target price for the company. in a research report on Wednesday. Nomura Securities upgraded Coupang to a "strong-buy" rating in a research report on Wednesday. Finally, Wall Street Zen cut Coupang from a "buy" rating to a "hold" rating in a research note on Sunday, July 20th. Three research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Coupang presently has a consensus rating of "Moderate Buy" and an average price target of $30.57.

Coupang Trading Up 0.2%

Shares of NYSE:CPNG opened at $27.86 on Friday. The company has a market capitalization of $50.58 billion, a P/E ratio of 139.31 and a beta of 1.16. Coupang, Inc. has a 1 year low of $19.02 and a 1 year high of $31.65. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.09 and a quick ratio of 0.90. The business's 50 day simple moving average is $29.45 and its 200 day simple moving average is $25.76.

Coupang (NYSE:CPNG - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $0.02 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.07 by ($0.05). The company had revenue of $8.52 billion for the quarter, compared to analyst estimates of $8.34 billion. Coupang had a return on equity of 7.47% and a net margin of 1.13%. The company's quarterly revenue was up 16.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.07 EPS. On average, research analysts anticipate that Coupang, Inc. will post 0.17 EPS for the current fiscal year.

Insider Transactions at Coupang

In related news, CFO Gaurav Anand sold 175,000 shares of the firm's stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $28.11, for a total transaction of $4,919,250.00. Following the sale, the chief financial officer owned 2,092,290 shares of the company's stock, valued at $58,814,271.90. This trade represents a 7.72% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Pranam Kolari sold 11,653 shares of Coupang stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $29.14, for a total value of $339,568.42. Following the transaction, the vice president directly owned 158,676 shares in the company, valued at $4,623,818.64. The trade was a 6.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 10,462,003 shares of company stock worth $295,397,453. 12.78% of the stock is owned by insiders.

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.

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