Coupang, Inc. $CPNG Shares Bought by Coronation Fund Managers Ltd.

Key Points

• Coronation Fund Managers raised its stake in Coupang by 19.3% in Q4, adding 960,402 shares to hold 5,936,214 shares (about $140.0M), making CPNG its fourth-largest position and representing 0.32% of the company.
• Director Neil Mehta bought 2,332,863 shares at $18.40 on March 13, boosting his holdings to 55,310,977 shares (≈$1.02B); insiders have purchased 7.35M shares over the last 90 days and now own 12.78% of the company.
• Analysts are mixed with an average rating of Hold and a $27.30 price target, while Coupang recently missed quarterly estimates (EPS -$0.01 vs $0.02 est; revenue $8.84B vs $9.12B) and the stock trades around $20.51.

Coronation Fund Managers Ltd. grew its stake in shares of Coupang, Inc. (NYSE:CPNG - Free Report) by 19.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,936,214 shares of the company's stock after acquiring an additional 960,402 shares during the period. Coupang comprises approximately 6.3% of Coronation Fund Managers Ltd.'s holdings, making the stock its 4th biggest position. Coronation Fund Managers Ltd. owned 0.32% of Coupang worth $140,035,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the stock. Concurrent Investment Advisors LLC grew its holdings in Coupang by 80.5% during the 4th quarter. Concurrent Investment Advisors LLC now owns 17,054 shares of the company's stock worth $402,000 after acquiring an additional 7,606 shares in the last quarter. Rakuten Securities Inc. grew its holdings in Coupang by 701.2% during the 4th quarter. Rakuten Securities Inc. now owns 4,094 shares of the company's stock worth $97,000 after acquiring an additional 3,583 shares in the last quarter. Davidson Kahn Capital Management LLC grew its holdings in Coupang by 24.2% during the 4th quarter. Davidson Kahn Capital Management LLC now owns 132,349 shares of the company's stock worth $3,122,000 after acquiring an additional 25,829 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH grew its holdings in Coupang by 43.4% during the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 1,127,855 shares of the company's stock worth $26,616,000 after acquiring an additional 341,534 shares in the last quarter. Finally, Steele Capital Management Inc. acquired a new position in Coupang during the 4th quarter worth $262,000. 83.72% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have weighed in on CPNG. Deutsche Bank Aktiengesellschaft raised shares of Coupang from a "hold" rating to a "buy" rating and set a $25.00 price objective for the company in a report on Friday, January 16th. Mizuho reduced their price target on shares of Coupang from $32.00 to $25.00 and set a "neutral" rating on the stock in a research report on Friday, February 27th. Morgan Stanley reduced their price target on shares of Coupang from $31.00 to $29.00 and set an "overweight" rating on the stock in a research report on Monday, March 2nd. Citigroup reduced their price target on shares of Coupang from $27.00 to $24.00 and set a "buy" rating on the stock in a research report on Tuesday, February 10th. Finally, Wall Street Zen downgraded shares of Coupang from a "hold" rating to a "strong sell" rating in a research report on Saturday, March 14th. Six analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, Coupang currently has an average rating of "Hold" and an average price target of $27.30.

Coupang Trading Down 0.4%

Shares of NYSE:CPNG opened at $20.51 on Friday. The company has a market cap of $37.49 billion, a PE ratio of 170.90 and a beta of 1.16. The company's 50-day moving average price is $19.33 and its 200 day moving average price is $23.34. Coupang, Inc. has a fifty-two week low of $16.74 and a fifty-two week high of $34.08. The company has a quick ratio of 0.79, a current ratio of 1.04 and a debt-to-equity ratio of 0.14.

Coupang (NYSE:CPNG - Get Free Report) last issued its quarterly earnings data on Thursday, February 26th. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.03). The firm had revenue of $8.84 billion during the quarter, compared to the consensus estimate of $9.12 billion. Coupang had a net margin of 0.60% and a return on equity of 4.52%. The company's revenue for the quarter was up 10.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.04 earnings per share. Sell-side analysts anticipate that Coupang, Inc. will post -0.78 earnings per share for the current year.

Insider Buying and Selling at Coupang

In related news, Director Neil Mehta purchased 2,332,863 shares of Coupang stock in a transaction dated Friday, March 13th. The stock was bought at an average cost of $18.40 per share, with a total value of $42,924,679.20. Following the purchase, the director owned 55,310,977 shares in the company, valued at approximately $1,017,721,976.80. The trade was a 4.40% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Over the last ninety days, insiders have purchased 7,350,104 shares of company stock valued at $136,566,051. Corporate insiders own 12.78% of the company's stock.

About Coupang

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.

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