Coupang, Inc. $CPNG Stock Holdings Increased by Mane Global Capital Management LP

Mane Global Capital Management LP grew its position in shares of Coupang, Inc. (NYSE:CPNG) by 48.3% in the second quarter, Holdings Channel reports. The fund owned 2,716,330 shares of the company’s stock after buying an additional 884,764 shares during the quarter. Coupang makes up about 3.4% of Mane Global Capital Management LP’s portfolio, making the stock its 8th biggest position. Mane Global Capital Management LP’s holdings in Coupang were worth $81,381,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Dodge & Cox raised its stake in Coupang by 101.6% during the first quarter. Dodge & Cox now owns 40,784,920 shares of the company’s stock valued at $894,413,000 after purchasing an additional 20,555,600 shares in the last quarter. Norges Bank purchased a new position in shares of Coupang in the 2nd quarter worth $587,186,000. GQG Partners LLC bought a new stake in shares of Coupang in the 1st quarter worth about $168,127,000. Nuveen LLC bought a new stake in shares of Coupang in the 1st quarter worth about $75,775,000. Finally, Marshall Wace LLP raised its position in shares of Coupang by 115.9% during the 2nd quarter. Marshall Wace LLP now owns 6,360,239 shares of the company’s stock valued at $190,553,000 after buying an additional 3,414,359 shares in the last quarter. 83.72% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, VP Pranam Kolari sold 11,653 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $31.98, for a total transaction of $372,662.94. Following the transaction, the vice president directly owned 147,023 shares of the company’s stock, valued at approximately $4,701,795.54. This trade represents a 7.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 12.78% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts recently commented on CPNG shares. Bank of America lifted their price target on Coupang from $36.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday, November 5th. Mizuho lifted their target price on Coupang from $30.00 to $32.00 and gave the stock a “neutral” rating in a report on Thursday, November 6th. Zacks Research raised Coupang from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 4th. Arete Research started coverage on Coupang in a report on Thursday, September 18th. They set a “buy” rating and a $40.00 price target on the stock. Finally, Barclays lifted their price objective on shares of Coupang from $36.00 to $40.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 11th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $34.38.

Coupang Trading Down 3.2%

Shares of NYSE CPNG opened at $26.08 on Thursday. Coupang, Inc. has a fifty-two week low of $19.02 and a fifty-two week high of $34.08. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.82 and a current ratio of 1.06. The company has a market cap of $47.64 billion, a price-to-earnings ratio of 124.19 and a beta of 1.18. The business’s 50 day moving average price is $29.70 and its 200-day moving average price is $29.74.

Coupang (NYSE:CPNG) last posted its quarterly earnings data 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 company had revenue of $9.27 billion during the quarter, compared to analysts’ expectations of $9.13 billion. During the same quarter in the previous year, the business earned $0.06 EPS. Coupang’s revenue was up 17.8% compared to the same quarter last year. On average, sell-side analysts expect that Coupang, Inc. will post 0.17 earnings per share for the current year.

Coupang 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.