Makena Capital Management LLC Raises Position in Coupang, Inc. $CPNG

Key Points

• Makena Capital Management LLC significantly increased its stake in Coupang, Inc. by 64.9% during the first quarter, owning 842,277 shares valued at approximately $18.47 million.
• Institutional investors control 83.72% of Coupang's stock, indicating strong interest from major financial entities.
• Coupang reported earnings that missed expectations, posting an EPS of $0.02 compared to a consensus estimate of $0.07, despite a revenue increase of 16.4% year-over-year.

Makena Capital Management LLC raised its stake in Coupang, Inc. (NYSE:CPNG - Free Report) by 64.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 842,277 shares of the company's stock after buying an additional 331,399 shares during the quarter. Coupang accounts for about 1.9% of Makena Capital Management LLC's portfolio, making the stock its 16th largest position. Makena Capital Management LLC's holdings in Coupang were worth $18,471,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of Coupang during the first quarter worth about $30,000. Grove Bank & Trust bought a new position in Coupang in the first quarter valued at approximately $33,000. Itau Unibanco Holding S.A. grew its stake in Coupang by 520.6% in the fourth quarter. Itau Unibanco Holding S.A. now owns 1,955 shares of the company's stock valued at $43,000 after purchasing an additional 1,640 shares in the last quarter. TD Waterhouse Canada Inc. boosted its stake in shares of Coupang by 142.9% during the 4th quarter. TD Waterhouse Canada Inc. now owns 2,429 shares of the company's stock worth $53,000 after acquiring an additional 1,429 shares during the period. Finally, BOCHK Asset Management Ltd bought a new position in shares of Coupang during the 1st quarter worth approximately $70,000. Institutional investors and hedge funds own 83.72% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently commented on CPNG shares. 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 note on Wednesday, August 6th. Wall Street Zen cut Coupang from a "buy" rating to a "hold" rating in a report on Sunday, July 20th. Morgan Stanley boosted their price target on Coupang from $32.00 to $35.00 and gave the stock an "overweight" rating in a report on Wednesday. Nomura Securities raised Coupang to a "strong-buy" rating in a report on Wednesday, August 6th. Finally, Barclays boosted their price objective on Coupang from $35.00 to $36.00 and gave the stock an "overweight" rating in a research report on Thursday, May 8th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, Coupang has an average rating of "Moderate Buy" and an average target price of $31.13.

Insider Transactions at Coupang

In other news, VP Pranam Kolari sold 11,653 shares of the stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $29.14, for a total value of $339,568.42. Following the completion of the sale, the vice president directly owned 158,676 shares of the company's stock, valued at $4,623,818.64. This represents a 6.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Gaurav Anand sold 175,000 shares of the stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $28.11, for a total value of $4,919,250.00. Following the completion of the sale, the chief financial officer directly owned 2,092,290 shares of the company's stock, valued at approximately $58,814,271.90. This trade represents a 7.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 10,462,003 shares of company stock worth $295,524,795 in the last three months. Insiders own 12.78% of the company's stock.

Coupang Stock Down 2.2%

NYSE:CPNG traded down $0.6250 on Thursday, hitting $28.2150. The stock had a trading volume of 12,388,513 shares, compared to its average volume of 9,488,530. The business's fifty day moving average is $29.47 and its 200 day moving average is $26.04. The company has a market cap of $51.44 billion, a PE ratio of 141.08 and a beta of 1.16. 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, Inc. has a 52 week low of $19.02 and a 52 week high of $31.65.

Coupang (NYSE:CPNG - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.05). The firm had revenue of $8.52 billion during the quarter, compared to the consensus estimate 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 quarter in the previous year, the company posted $0.07 EPS. On average, equities research analysts expect that Coupang, Inc. will post 0.17 EPS for the current fiscal year.

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.