Coupang, Inc. $CPNG Position Reduced by Matthews International Capital Management LLC

Matthews International Capital Management LLC trimmed its position in shares of Coupang, Inc. (NYSE:CPNG) by 65.1% during the 3rd quarter, Holdings Channel reports. The fund owned 61,907 shares of the company’s stock after selling 115,631 shares during the period. Coupang makes up approximately 0.4% of Matthews International Capital Management LLC’s investment portfolio, making the stock its 28th biggest position. Matthews International Capital Management LLC’s holdings in Coupang were worth $859,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CPNG. Allspring Global Investments Holdings LLC boosted its position in Coupang by 2.2% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 502,541 shares of the company’s stock valued at $6,935,000 after buying an additional 10,647 shares during the period. Brighton Jones LLC bought a new position in Coupang in the 3rd quarter worth about $160,000. 180 Wealth Advisors LLC increased its position in shares of Coupang by 24.1% during the third quarter. 180 Wealth Advisors LLC now owns 48,681 shares of the company’s stock worth $675,000 after acquiring an additional 9,451 shares during the period. Alta Advisers Ltd purchased a new position in shares of Coupang during the third quarter worth approximately $139,000. Finally, Kestra Advisory Services LLC increased its position in shares of Coupang by 12.3% during the third quarter. Kestra Advisory Services LLC now owns 51,618 shares of the company’s stock worth $716,000 after acquiring an additional 5,663 shares during the period. 83.72% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Coupang news, CAO Jonathan D. Lee sold 5,519 shares of the company’s stock in a transaction dated Friday, October 2nd. The shares were sold at an average price of $13.65, for a total value of $75,334.35. Following the completion of the transaction, the chief accounting officer owned 176,396 shares in the company, valued at approximately $2,407,805.40. This represents a 3.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 12.83% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on CPNG shares. Sanford C. Bernstein decreased their price objective on Coupang from $12.00 to $11.00 and set an “underperform” rating for the company in a report on Thursday, November 5th. Wall Street Zen upgraded shares of Coupang from a “strong sell” rating to a “sell” rating in a report on Saturday. Deutsche Bank Aktiengesellschaft raised shares of Coupang from a “hold” rating to a “buy” rating and cut their target price for the company from $23.00 to $21.50 in a research report on Wednesday, August 5th. Bank of America reduced 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 Wednesday, August 5th. Finally, Citigroup raised shares of Coupang from a “neutral” rating to a “buy” rating and set a $19.00 price target for the company in a research report on Wednesday, November 4th. Six investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $23.41.

Coupang Stock Performance

CPNG opened at $16.33 on Wednesday. Coupang, Inc. has a 12-month low of $13.35 and a 12-month high of $29.08. The company has a current ratio of 0.80, a quick ratio of 0.58 and a debt-to-equity ratio of 1.16. The firm has a market capitalization of $29.35 billion, a PE ratio of -21.49 and a beta of 1.15. The firm has a 50 day moving average of $14.74 and a two-hundred day moving average of $17.11.

Coupang (NYSE:CPNG) last announced its quarterly earnings results on Tuesday, November 3rd. The company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.09). The company had revenue of $9.96 billion for the quarter, compared to analyst estimates of $9.76 billion. Coupang had a negative return on equity of 21.51% and a negative net margin of 3.77%. Coupang’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.05 earnings per share. On average, analysts anticipate that Coupang, Inc. will post -0.60 EPS for the current year.

About Coupang

Coupang, Inc. is an e-commerce and technology company best known for its online marketplace in South Korea. The platform offers products across categories such as electronics, apparel, household goods and groceries, combining third-party sellers with retail operations and a network of fulfillment and delivery services. Its services include Rocket Delivery for rapid shipping, Rocket Fresh for grocery delivery and Coupang Eats for food delivery. Coupang also offers Coupang Play, a video-streaming service, and operates a paid membership program called Rocket Wow.