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

Matthews International Capital Management LLC trimmed its position in shares of Coupang, Inc. (NYSE:CPNG) by 20.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 369,975 shares of the company’s stock after selling 93,614 shares during the period. Coupang makes up 2.6% of Matthews International Capital Management LLC’s portfolio, making the stock its 15th biggest position. Matthews International Capital Management LLC’s holdings in Coupang were worth $8,728,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the company. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in Coupang by 4.6% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 7,436 shares of the company’s stock valued at $239,000 after purchasing an additional 330 shares in the last quarter. California State Teachers Retirement System grew its holdings in Coupang by 0.5% during the 3rd quarter. California State Teachers Retirement System now owns 78,679 shares of the company’s stock valued at $2,533,000 after purchasing an additional 361 shares in the last quarter. CIBC Asset Management Inc grew its holdings in Coupang by 0.6% during the 3rd quarter. CIBC Asset Management Inc now owns 65,029 shares of the company’s stock valued at $2,094,000 after purchasing an additional 364 shares in the last quarter. Resonant Capital Advisors LLC grew its holdings in Coupang by 2.9% during the 3rd quarter. Resonant Capital Advisors LLC now owns 13,088 shares of the company’s stock valued at $421,000 after purchasing an additional 374 shares in the last quarter. Finally, Merit Financial Group LLC grew its holdings in Coupang by 2.7% during the 3rd quarter. Merit Financial Group LLC now owns 15,862 shares of the company’s stock valued at $511,000 after purchasing an additional 418 shares in the last quarter. 83.72% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on CPNG shares. Mizuho lowered their price target on shares of Coupang from $32.00 to $25.00 and set a “neutral” rating for the company in a report on Friday, February 27th. Sanford C. Bernstein reaffirmed an “underperform” rating on shares of Coupang in a report on Monday, March 2nd. Citigroup lowered their price target on shares of Coupang from $27.00 to $24.00 and set a “buy” rating for the company in a report on Tuesday, February 10th. Nomura lowered their price target on shares of Coupang from $22.00 to $20.00 and set a “neutral” rating for the company in a report on Monday, March 2nd. Finally, Deutsche Bank Aktiengesellschaft raised shares of Coupang from a “hold” rating to a “buy” rating and set a $25.00 price target for the company in a report on Friday, January 16th. Six equities research 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’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $27.30.

Coupang Price Performance

Shares of CPNG stock opened at $20.51 on Friday. The firm has a market cap of $37.49 billion, a P/E ratio of 170.90 and a beta of 1.16. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.04 and a quick ratio of 0.79. Coupang, Inc. has a 1-year low of $16.74 and a 1-year high of $34.08. The firm has a fifty day moving average of $19.33 and a two-hundred day moving average of $23.34.

Coupang (NYSE:CPNG) last announced its quarterly earnings data on Thursday, February 26th. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.03). The company had revenue of $8.84 billion for the quarter, compared to analyst estimates of $9.12 billion. Coupang had a return on equity of 4.52% and a net margin of 0.60%.Coupang’s revenue was up 10.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.04 earnings per share. As a group, research analysts anticipate that Coupang, Inc. will post -0.78 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Neil Mehta acquired 3,000,000 shares of the firm’s stock in a transaction on Thursday, March 12th. The stock was bought at an average cost of $18.68 per share, with a total value of $56,040,000.00. Following the acquisition, the director directly owned 52,978,114 shares in the company, valued at approximately $989,631,169.52. The trade was a 6.00% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last ninety days, insiders have acquired 7,350,104 shares of company stock worth $136,566,051. 12.78% of the stock is owned by company insiders.

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.