Matthews International Capital Management LLC Boosts Stake in Coupang, Inc. (NYSE:CPNG)

Matthews International Capital Management LLC boosted its holdings in shares of Coupang, Inc. (NYSE:CPNG - Free Report) by 23.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 852,199 shares of the company's stock after buying an additional 159,811 shares during the period. Coupang makes up about 3.9% of Matthews International Capital Management LLC's portfolio, making the stock its 9th largest position. Matthews International Capital Management LLC's holdings in Coupang were worth $18,689,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in CPNG. Grove Bank & Trust acquired a new position in Coupang during the 1st quarter valued at about $33,000. Itau Unibanco Holding S.A. boosted its stake in Coupang by 520.6% during the 4th 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 during the last quarter. Allworth Financial LP boosted its stake in Coupang by 11,033.3% during the 4th quarter. Allworth Financial LP now owns 2,004 shares of the company's stock valued at $45,000 after purchasing an additional 1,986 shares during the last quarter. TD Waterhouse Canada Inc. boosted its stake in Coupang by 142.9% during the 4th quarter. TD Waterhouse Canada Inc. now owns 2,429 shares of the company's stock valued at $53,000 after purchasing an additional 1,429 shares during the last quarter. Finally, Signaturefd LLC boosted its stake in Coupang by 34.7% during the 4th quarter. Signaturefd LLC now owns 3,193 shares of the company's stock valued at $70,000 after purchasing an additional 822 shares during the last quarter. 83.72% of the stock is owned by institutional investors.

Coupang Stock Performance

Shares of CPNG stock traded up $0.09 during trading hours on Friday, hitting $28.49. 12,814,326 shares of the company were exchanged, compared to its average volume of 8,000,691. The company has a current ratio of 1.16, a quick ratio of 0.90 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $51.73 billion, a price-to-earnings ratio of 203.53 and a beta of 1.15. The firm has a fifty day simple moving average of $25.98 and a 200 day simple moving average of $24.01. Coupang, Inc. has a 52-week low of $18.16 and a 52-week high of $29.12.

Coupang (NYSE:CPNG - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.06 EPS for the quarter, missing analysts' consensus estimates of $0.07 by ($0.01). The company had revenue of $7.91 billion during the quarter, compared to the consensus estimate of $8.02 billion. Coupang had a return on equity of 10.07% and a net margin of 0.82%. The firm's revenue was up 11.2% on a year-over-year basis. Research analysts predict that Coupang, Inc. will post 0.17 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

CPNG has been the subject of a number of analyst reports. Wall Street Zen upgraded Coupang from a "hold" rating to a "buy" rating in a research note on Saturday. Mizuho raised shares of Coupang to a "hold" rating in a research report on Friday, April 18th. Barclays increased their price target on Coupang from $35.00 to $36.00 and gave the company an "overweight" rating in a research report on Thursday, May 8th. Finally, Deutsche Bank Aktiengesellschaft upgraded Coupang from a "hold" rating to a "buy" rating and set a $28.50 price target on the stock in a report on Wednesday, February 26th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat, Coupang has a consensus rating of "Moderate Buy" and a consensus target price of $29.64.

Insider Buying and Selling

In other news, CFO Gaurav Anand sold 175,000 shares of Coupang stock in a transaction 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 transaction, the chief financial officer now directly owns 2,092,290 shares in the company, valued at approximately $58,814,271.90. The trade was a 7.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Svf Investments (Uk) Ltd sold 30,000,000 shares of the business's stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $25.75, for a total value of $772,500,000.00. Following the sale, the insider now owns 319,542,259 shares in the company, valued at approximately $8,228,213,169.25. The trade was a 8.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 40,459,697 shares of company stock valued at $1,067,780,811. 12.78% of the stock is owned by company insiders.

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.