Massachusetts Financial Services Co. MA Increases Stock Position in Coupang, Inc. $CPNG

Key Points

• Massachusetts Financial Services Co. MA raised its stake in Coupang by 8.2% to 12,132,629 shares (about $286.2 million), and institutional investors now own roughly 83.7% of the stock.
• Coupang missed its latest quarter (EPS ($0.01) vs. $0.02 estimate; revenue $8.84B vs. $9.12B), and analysts hold a consensus "Hold" with an average target price of $26.70 while the stock trades near $19.76.
• Director Neil Mehta purchased 2,332,863 shares at about $18.40 (~$42.9M), part of insiders buying 7.35M shares in the past 90 days and insiders owning ~12.8% of the company.

Massachusetts Financial Services Co. MA increased its position in shares of Coupang, Inc. (NYSE:CPNG - Free Report) by 8.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 12,132,629 shares of the company's stock after buying an additional 917,487 shares during the period. Massachusetts Financial Services Co. MA owned 0.66% of Coupang worth $286,209,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Yousif Capital Management LLC boosted its holdings in Coupang by 5.1% during the fourth quarter. Yousif Capital Management LLC now owns 17,491 shares of the company's stock worth $413,000 after buying an additional 847 shares in the last quarter. AMS Capital Ltda boosted its holdings in Coupang by 177.9% during the fourth quarter. AMS Capital Ltda now owns 706,616 shares of the company's stock worth $16,669,000 after buying an additional 452,355 shares in the last quarter. Azzad Asset Management Inc. ADV boosted its holdings in Coupang by 63.1% during the fourth quarter. Azzad Asset Management Inc. ADV now owns 55,567 shares of the company's stock worth $1,311,000 after buying an additional 21,491 shares in the last quarter. Stock Yards Bank & Trust Co. purchased a new stake in Coupang during the fourth quarter worth $218,000. Finally, Flagship Harbor Advisors LLC purchased a new stake in Coupang during the fourth quarter worth $60,000. 83.72% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CPNG has been the subject of a number of recent analyst reports. Citigroup cut their price objective on Coupang from $27.00 to $24.00 and set a "buy" rating for the company in a research report on Tuesday, February 10th. UBS Group set a $25.00 price objective on Coupang in a research report on Thursday, February 19th. Wall Street Zen cut Coupang from a "hold" rating to a "strong sell" rating in a research report on Saturday, March 14th. Nomura cut their price objective on Coupang from $22.00 to $20.00 and set a "neutral" rating for the company in a research report on Monday, March 2nd. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Coupang from a "hold" rating to a "buy" rating and set a $25.00 price objective for the company in a research report on Friday, January 16th. Six investment analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $26.70.

Coupang Stock Performance

NYSE:CPNG opened at $19.76 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.79 and a current ratio of 1.04. The company has a fifty day moving average of $18.79 and a two-hundred day moving average of $24.08. The stock has a market capitalization of $36.13 billion, a PE ratio of 164.69 and a beta of 1.16. Coupang, Inc. has a fifty-two week low of $16.74 and a fifty-two week high of $34.08.

Coupang (NYSE:CPNG - Get Free Report) last issued its earnings results on Thursday, February 26th. The company reported ($0.01) EPS for the quarter, missing analysts' consensus estimates of $0.02 by ($0.03). The business had revenue of $8.84 billion during the quarter, compared to analyst estimates of $9.12 billion. Coupang had a net margin of 0.60% and a return on equity of 4.52%. Coupang's quarterly revenue was up 10.9% on a year-over-year basis. During the same quarter last year, the company earned $0.04 earnings per share. As a group, research analysts forecast that Coupang, Inc. will post 0.17 earnings per share for the current fiscal year.

Insider Activity at Coupang

In other Coupang news, Director Neil Mehta bought 2,332,863 shares of Coupang stock in a transaction dated Friday, March 13th. The stock was acquired at an average cost of $18.40 per share, for a total transaction of $42,924,679.20. Following the completion of the transaction, the director directly owned 55,310,977 shares of the company's stock, valued at approximately $1,017,721,976.80. This represents a 4.40% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders have bought 7,350,104 shares of company stock valued at $136,566,051 in the last ninety days. 12.78% of the stock is owned by corporate insiders.

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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