Coupang, Inc. $CPNG is Coronation Fund Managers Ltd.'s 2nd Largest Position

Key Points

• Coronation Fund Managers Ltd. reduced its stake in Coupang, Inc. by 24.1%, making the company its second-largest position with 9.3% of total holdings.
• Multiple hedge funds have increased their stakes in Coupang, with Dodge & Cox leading a 101.6% rise during Q1, now owning nearly $894 million in shares.
• Analysts have mixed opinions on Coupang, but the consensus rating is a "Moderate Buy" with a target price of $33.50, while reported earnings missed expectations by $0.05.

Coronation Fund Managers Ltd. reduced its stake in shares of Coupang, Inc. (NYSE:CPNG - Free Report) by 24.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,736,119 shares of the company's stock after selling 1,823,658 shares during the quarter. Coupang makes up 9.3% of Coronation Fund Managers Ltd.'s holdings, making the stock its 2nd largest position. Coronation Fund Managers Ltd. owned 0.32% of Coupang worth $171,854,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in the stock. Dodge & Cox lifted its stake in shares of Coupang by 101.6% during the 1st quarter. Dodge & Cox now owns 40,784,920 shares of the company's stock worth $894,413,000 after purchasing an additional 20,555,600 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in Coupang by 436.6% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 8,686,580 shares of the company's stock valued at $190,497,000 after buying an additional 7,067,830 shares in the last quarter. GQG Partners LLC acquired a new position in Coupang during the 1st quarter valued at about $168,127,000. Altimeter Capital Management LP increased its position in Coupang by 24.3% during the 1st quarter. Altimeter Capital Management LP now owns 7,441,445 shares of the company's stock valued at $163,191,000 after buying an additional 1,455,555 shares in the last quarter. Finally, Kontiki Capital Management HK Ltd. increased its position in Coupang by 3.4% during the 1st quarter. Kontiki Capital Management HK Ltd. now owns 7,210,768 shares of the company's stock valued at $158,132,000 after buying an additional 237,300 shares in the last quarter. 83.72% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CPNG has been the topic of several recent analyst reports. Morgan Stanley upped their target price on Coupang from $32.00 to $35.00 and gave the company an "overweight" rating in a research report on Wednesday, August 20th. Nomura raised Coupang from a "neutral" rating to a "buy" rating and set a $35.00 target price on the stock in a research report on Wednesday, August 6th. Arete Research assumed coverage on Coupang in a research report on Thursday, September 18th. They set a "buy" rating and a $40.00 target price on the stock. Wall Street Zen lowered Coupang from a "buy" rating to a "hold" rating in a report on Sunday, July 20th. Finally, Deutsche Bank Aktiengesellschaft lowered Coupang from a "buy" rating to a "hold" rating and set a $27.00 price objective on the stock. in a report on Wednesday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $33.50.

Coupang Stock Up 1.6%

Coupang stock opened at $31.70 on Tuesday. The firm has a market cap of $57.79 billion, a price-to-earnings ratio of 158.51 and a beta of 1.18. Coupang, Inc. has a 52 week low of $19.02 and a 52 week high of $34.08. The business's 50-day moving average price is $30.87 and its 200 day moving average price is $28.41. The company has a quick ratio of 0.84, a current ratio of 1.09 and a debt-to-equity ratio of 0.18.

Coupang (NYSE:CPNG - Get Free Report) last posted its earnings results on Tuesday, August 5th. The company reported $0.02 EPS for the quarter, missing the consensus estimate 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 firm's revenue was up 16.4% on a year-over-year basis. During the same period last year, the business earned $0.07 earnings per share. As a group, sell-side analysts anticipate that Coupang, Inc. will post 0.17 earnings per share for the current year.

Insider Activity

In related news, CFO Gaurav Anand sold 75,350 shares of the firm's stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $27.79, for a total transaction of $2,093,976.50. Following the sale, the chief financial officer directly owned 2,016,940 shares of the company's stock, valued at $56,050,762.60. This trade represents a 3.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Pranam Kolari sold 11,653 shares of the firm's 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 sale, the vice president directly owned 158,676 shares in the company, valued at approximately $4,623,818.64. This trade represents a 6.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 988,983 shares of company stock valued at $31,203,966 over the last 90 days. Company insiders own 12.78% of the company's stock.

Coupang Company 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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