Matthews International Capital Management LLC Trims Position in Coupang, Inc. $CPNG

Key Points

• Matthews International trimmed its stake in Coupang by 20.2% in Q4, selling 93,614 shares and now holding 369,975 shares worth $8.73 million (about 2.6% of its portfolio).
• Director Neil Mehta bought 3,000,000 shares at $18.68 on March 12, raising his stake to 52,978,114 shares; insiders purchased 7,350,104 shares last quarter and now own 12.78% of the company.
• Coupang missed Q4 estimates (revenue $8.84B vs. $9.12B expected; EPS -$0.01 vs. $0.02 expected), the stock trades near $20.51 with a ~$37.5B market cap, and analysts' consensus rating is a Hold with a $27.30 target.

Matthews International Capital Management LLC lowered its stake in shares of Coupang, Inc. (NYSE:CPNG - Free Report) by 20.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 369,975 shares of the company's stock after selling 93,614 shares during the period. Coupang makes up approximately 2.6% of Matthews International Capital Management LLC's portfolio, making the stock its 15th biggest holding. Matthews International Capital Management LLC's holdings in Coupang were worth $8,728,000 at the end of the most recent reporting period.

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

Insider Activity at Coupang

In other Coupang news, Director Neil Mehta bought 3,000,000 shares of the business's stock in a transaction dated Thursday, March 12th. The shares were acquired at an average price of $18.68 per share, with a total value of $56,040,000.00. Following the purchase, the director owned 52,978,114 shares in the company, valued at approximately $989,631,169.52. The trade was a 6.00% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Over the last quarter, insiders have acquired 7,350,104 shares of company stock valued at $136,566,051. Company insiders own 12.78% of the company's stock.

Coupang Stock Performance

Shares of CPNG stock opened at $20.51 on Friday. The company's fifty day simple moving average is $19.33 and its 200-day simple moving average is $23.34. Coupang, Inc. has a 52 week low of $16.74 and a 52 week high of $34.08. The company has a current ratio of 1.04, a quick ratio of 0.79 and a debt-to-equity ratio of 0.14. The company has a market cap of $37.49 billion, a PE ratio of 170.90 and a beta of 1.16.

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). Coupang had a net margin of 0.60% and a return on equity of 4.52%. The business had revenue of $8.84 billion during the quarter, compared to analysts' expectations of $9.12 billion. During the same period in the prior year, the business posted $0.04 EPS. The business's revenue was up 10.9% on a year-over-year basis. As a group, equities research analysts anticipate that Coupang, Inc. will post -0.78 EPS for the current year.

Analysts Set New Price Targets

CPNG has been the topic of a number of research analyst reports. Barclays lifted their price target on shares of Coupang from $24.00 to $30.00 and gave the company an "overweight" rating in a report on Thursday. Citigroup decreased their price target on shares of Coupang from $27.00 to $24.00 and set a "buy" rating on the stock in a report on Tuesday, February 10th. Mizuho decreased their price target on shares of Coupang from $32.00 to $25.00 and set a "neutral" rating on the stock in a report on Friday, February 27th. Sanford C. Bernstein reiterated an "underperform" rating on shares of Coupang in a report on Monday, March 2nd. Finally, Nomura decreased their price target 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. Six research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Coupang currently has an average rating of "Hold" and a consensus target price of $27.30.

Coupang Profile

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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