Makena Capital Management LLC Purchases 99,397 Shares of Coupang, Inc. $CPNG

Key Points

• Makena Capital Management increased its Coupang stake by 16.8% in the fourth quarter, buying 99,397 shares and bringing its total to 691,386 shares worth about $16.3 million.
• Institutional ownership remains high, with several major investors adjusting positions and institutions holding 83.72% of Coupang’s shares. Notably, Vanguard significantly expanded its stake in the prior quarter.
• Coupang’s latest results were mixed: revenue came in at $8.50 billion, slightly above expectations and up 7.5% year over year, but EPS of -$0.15 missed estimates. Analysts currently have an average Hold rating and a $26.92 price target.

Makena Capital Management LLC lifted its position in Coupang, Inc. (NYSE:CPNG - Free Report) by 16.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 691,386 shares of the company's stock after purchasing an additional 99,397 shares during the quarter. Coupang accounts for approximately 2.0% of Makena Capital Management LLC's holdings, making the stock its 22nd biggest holding. Makena Capital Management LLC's holdings in Coupang were worth $16,310,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Massachusetts Financial Services Co. MA grew its holdings in shares of Coupang by 2.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 11,215,142 shares of the company's stock worth $361,128,000 after purchasing an additional 318,115 shares during the last quarter. TRB Advisors LP bought a new stake in Coupang during the 3rd quarter worth about $1,863,000. New York State Common Retirement Fund grew its holdings in Coupang by 18.5% during the 3rd quarter. New York State Common Retirement Fund now owns 728,861 shares of the company's stock worth $23,469,000 after acquiring an additional 113,950 shares during the last quarter. Rit Capital Partners PLC grew its holdings in Coupang by 3.5% during the 3rd quarter. Rit Capital Partners PLC now owns 2,700,750 shares of the company's stock worth $86,937,000 after acquiring an additional 91,550 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in Coupang by 343.5% during the 3rd quarter. Vanguard Group Inc. now owns 28,595,825 shares of the company's stock worth $920,786,000 after acquiring an additional 22,147,432 shares during the last quarter. Institutional investors own 83.72% of the company's stock.

Wall Street Analysts Forecast Growth

CPNG has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft lowered shares of Coupang from a "buy" rating to a "hold" rating and set a $23.00 price objective on the stock. in a report on Wednesday. Wall Street Zen lowered shares of Coupang from a "hold" rating to a "strong sell" rating in a report on Saturday, March 14th. Nomura decreased their price objective on shares of Coupang from $22.00 to $20.00 and set a "neutral" rating on the stock in a report on Monday, March 2nd. Barclays increased their price objective on shares of Coupang from $24.00 to $30.00 and gave the stock an "overweight" rating in a report on Thursday, April 23rd. Finally, Morgan Stanley decreased their price objective on shares of Coupang from $31.00 to $29.00 and set an "overweight" rating on the stock in a report on Monday, March 2nd. Four research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $26.92.

Coupang Stock Performance

Coupang stock opened at $17.01 on Friday. The company has a current ratio of 0.97, a quick ratio of 0.79 and a debt-to-equity ratio of 0.16. Coupang, Inc. has a 1 year low of $16.74 and a 1 year high of $34.08. The company has a market cap of $31.10 billion, a PE ratio of -188.98 and a beta of 1.20. The company's 50-day moving average is $19.54 and its two-hundred day moving average is $22.62.

Coupang (NYSE:CPNG - Get Free Report) last released its earnings results on Tuesday, May 5th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 business had revenue of $8.50 billion for the quarter, compared to analyst estimates of $8.48 billion. During the same quarter in the previous year, the company posted $0.06 earnings per share. The business's revenue for the quarter was up 7.5% on a year-over-year basis. Equities analysts anticipate that Coupang, Inc. will post -0.18 earnings per share for the current year.

Insider Buying and Selling at Coupang

In other news, Director Neil Mehta purchased 2,332,863 shares of the business's stock in a transaction that occurred on Friday, March 13th. The shares were acquired at an average cost of $18.40 per share, for a total transaction of $42,924,679.20. Following the transaction, the director directly owned 55,310,977 shares of the company's stock, 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 SEC, which is available at this link. In the last 90 days, insiders have purchased 7,350,104 shares of company stock valued at $136,566,051. Company 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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