Coupang, Inc. $CPNG Shares Sold by Matthews International Capital Management LLC

Matthews International Capital Management LLC trimmed its position in Coupang, Inc. (NYSE:CPNG) by 50.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 420,857 shares of the company’s stock after selling 431,342 shares during the period. Coupang comprises about 2.9% of Matthews International Capital Management LLC’s portfolio, making the stock its 14th largest holding. Matthews International Capital Management LLC’s holdings in Coupang were worth $12,609,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Inspirion Wealth Advisors LLC boosted its holdings in Coupang by 0.3% in the 2nd quarter. Inspirion Wealth Advisors LLC now owns 134,314 shares of the company’s stock worth $4,024,000 after buying an additional 400 shares during the last quarter. Thoroughbred Financial Services LLC boosted its holdings in Coupang by 1.4% in the 1st quarter. Thoroughbred Financial Services LLC now owns 29,486 shares of the company’s stock worth $646,000 after buying an additional 408 shares during the last quarter. California State Teachers Retirement System boosted its holdings in Coupang by 0.5% in the 4th quarter. California State Teachers Retirement System now owns 85,489 shares of the company’s stock worth $1,879,000 after buying an additional 445 shares during the last quarter. Baader Bank Aktiengesellschaft boosted its holdings in Coupang by 4.3% in the 2nd quarter. Baader Bank Aktiengesellschaft now owns 11,248 shares of the company’s stock worth $323,000 after buying an additional 461 shares during the last quarter. Finally, Resonant Capital Advisors LLC boosted its holdings in Coupang by 4.2% in the 1st quarter. Resonant Capital Advisors LLC now owns 11,768 shares of the company’s stock worth $258,000 after buying an additional 476 shares during the last quarter. 83.72% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CPNG has been the topic of several research analyst reports. Nomura upgraded Coupang from a “neutral” rating to a “buy” rating and set a $35.00 price objective on the stock in a report on Wednesday, August 6th. Wall Street Zen lowered shares of Coupang from a “buy” rating to a “hold” rating in a research note on Sunday, July 20th. Arete Research assumed coverage on shares of Coupang in a research note on Thursday, September 18th. They issued a “buy” rating and a $40.00 target price on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Coupang in a research note on Saturday, September 27th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Coupang from a “buy” rating to a “hold” rating and set a $27.00 target price on the stock. in a research note on Wednesday, August 6th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $33.11.

Coupang Stock Down 0.6%

CPNG stock opened at $32.36 on Friday. The firm has a market cap of $59.00 billion, a PE ratio of 161.82 and a beta of 1.18. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.84 and a current ratio of 1.09. The firm’s 50 day moving average price is $30.23 and its 200-day moving average price is $27.64. Coupang, Inc. has a one year low of $19.02 and a one year high of $34.08.

Coupang (NYSE:CPNG) last released its quarterly earnings results on Tuesday, August 5th. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.05). The firm had revenue of $8.52 billion for the quarter, compared to analysts’ expectations of $8.34 billion. Coupang had a net margin of 1.13% and a return on equity of 7.47%. The firm’s quarterly revenue was up 16.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.07 EPS. On average, equities research analysts anticipate that Coupang, Inc. will post 0.17 EPS for the current year.

Insider Activity

In other news, Director Pedro Franceschi sold 21,428 shares of Coupang stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $32.05, for a total transaction of $686,767.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Pranam Kolari sold 11,653 shares of Coupang stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $29.14, for a total transaction of $339,568.42. Following the sale, the vice president directly owned 158,676 shares in the company, valued at approximately $4,623,818.64. The trade was a 6.84% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 988,983 shares of company stock worth $31,203,966. 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.