Matthews International Capital Management LLC Purchases 42,732 Shares of Coupang, Inc. $CPNG

Matthews International Capital Management LLC raised its position in Coupang, Inc. (NYSE:CPNGFree Report) by 10.2% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 463,589 shares of the company’s stock after buying an additional 42,732 shares during the period. Coupang comprises approximately 3.5% of Matthews International Capital Management LLC’s holdings, making the stock its 10th largest holding. Matthews International Capital Management LLC’s holdings in Coupang were worth $14,928,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Albion Financial Group UT bought a new position in Coupang in the second quarter valued at about $30,000. Hilltop National Bank bought a new position in shares of Coupang in the 3rd quarter valued at about $34,000. Loomis Sayles & Co. L P acquired a new stake in shares of Coupang during the 2nd quarter worth approximately $45,000. Hollencrest Capital Management raised its stake in shares of Coupang by 3,246.0% during the second quarter. Hollencrest Capital Management now owns 1,673 shares of the company’s stock worth $50,000 after buying an additional 1,623 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its stake in shares of Coupang by 600.3% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 2,507 shares of the company’s stock worth $55,000 after buying an additional 2,149 shares during the last quarter. Institutional investors own 83.72% of the company’s stock.

Insider Activity

In related news, VP Pranam Kolari sold 11,653 shares of the stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $31.98, for a total transaction of $372,662.94. Following the completion of the sale, the vice president directly owned 147,023 shares of the company’s stock, valued at approximately $4,701,795.54. This represents a 7.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 12.78% of the company’s stock.

Coupang Price Performance

CPNG opened at $24.28 on Friday. The stock has a market cap of $44.34 billion, a P/E ratio of 115.60 and a beta of 1.18. Coupang, Inc. has a 12 month low of $19.02 and a 12 month high of $34.08. The company has a quick ratio of 0.82, a current ratio of 1.06 and a debt-to-equity ratio of 0.13. The company has a fifty day simple moving average of $27.68 and a 200 day simple moving average of $29.35.

Coupang (NYSE:CPNGGet Free Report) last posted its earnings results on Tuesday, November 4th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.01. Coupang had a return on equity of 6.95% and a net margin of 1.16%.The firm had revenue of $9.27 billion during the quarter, compared to analysts’ expectations of $9.13 billion. During the same period in the previous year, the firm earned $0.06 earnings per share. The company’s revenue was up 17.8% on a year-over-year basis. On average, research analysts expect that Coupang, Inc. will post 0.17 EPS for the current year.

Key Headlines Impacting Coupang

Here are the key news stories impacting Coupang this week:

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Barclays raised their price objective on shares of Coupang from $36.00 to $40.00 and gave the company an “overweight” rating in a research note on Tuesday, November 11th. Nomura dropped their price objective on Coupang from $38.00 to $30.00 and set a “buy” rating for the company in a report on Wednesday, December 17th. Morgan Stanley reissued an “overweight” rating and issued a $31.00 target price on shares of Coupang in a research note on Sunday, December 14th. Bank of America boosted their target price on Coupang from $36.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday, November 5th. Finally, Mizuho upped their price target on Coupang from $30.00 to $32.00 and gave the company a “neutral” rating in a research note on Thursday, November 6th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Coupang has a consensus rating of “Moderate Buy” and a consensus target price of $33.25.

Read Our Latest Analysis on CPNG

About Coupang

(Free Report)

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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Institutional Ownership by Quarter for Coupang (NYSE:CPNG)

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