Kinetic Partners Management LP Makes New $23.64 Million Investment in Coupang, Inc. $CPNG

Kinetic Partners Management LP bought a new stake in shares of Coupang, Inc. (NYSE:CPNG) during the 3rd quarter, Holdings Channel reports. The fund bought 734,300 shares of the company’s stock, valued at approximately $23,644,000. Coupang makes up 1.1% of Kinetic Partners Management LP’s portfolio, making the stock its 26th biggest holding.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Dodge & Cox increased its position in Coupang by 0.7% during the 3rd quarter. Dodge & Cox now owns 46,947,720 shares of the company’s stock valued at $1,511,717,000 after purchasing an additional 333,200 shares during the period. Capital International Investors boosted its stake in Coupang by 7.6% during the third quarter. Capital International Investors now owns 34,153,094 shares of the company’s stock worth $1,099,792,000 after acquiring an additional 2,421,089 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Coupang by 343.5% in the 3rd quarter. Vanguard Group Inc. now owns 28,595,825 shares of the company’s stock worth $920,786,000 after buying an additional 22,147,432 shares during the last quarter. Durable Capital Partners LP increased its holdings in shares of Coupang by 0.4% during the third quarter. Durable Capital Partners LP now owns 24,833,189 shares of the company’s stock valued at $799,629,000 after acquiring an additional 89,207 shares in the last quarter. Finally, Norges Bank bought a new stake in Coupang during the 2nd quarter valued at about $587,186,000. Hedge funds and other institutional investors own 83.72% of the company’s stock.

Coupang Price Performance

Coupang stock opened at $20.45 on Tuesday. Coupang, Inc. has a 12-month low of $16.74 and a 12-month high of $34.08. The firm has a 50-day moving average price of $19.53 and a 200-day moving average price of $25.66. The firm has a market capitalization of $37.35 billion, a PE ratio of 170.39 and a beta of 1.20. The company has a current ratio of 1.04, a quick ratio of 0.79 and a debt-to-equity ratio of 0.14.

Coupang (NYSE:CPNG) last posted its quarterly earnings results on Thursday, February 26th. The company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.03). The company had revenue of $8.84 billion during the quarter, compared to the consensus estimate of $9.12 billion. Coupang had a return on equity of 4.52% and a net margin of 0.60%.The company’s revenue for the quarter was up 10.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.04 earnings per share. As a group, equities research analysts forecast that Coupang, Inc. will post 0.17 EPS for the current year.

Insider Activity at Coupang

In other Coupang news, Director Neil Mehta acquired 2,332,863 shares of the stock in a transaction dated Friday, March 13th. The stock was purchased at an average price of $18.40 per share, with a total value of $42,924,679.20. Following the transaction, the director directly owned 55,310,977 shares of the company’s stock, valued at $1,017,721,976.80. This trade represents a 4.40% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Jonathan D. Lee sold 2,679 shares of the business’s stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $23.62, for a total transaction of $63,277.98. Following the sale, the chief accounting officer directly owned 122,096 shares in the company, valued at approximately $2,883,907.52. This represents a 2.15% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders acquired 7,350,104 shares of company stock valued at $136,566,051. 12.78% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Nomura lowered their target price on shares of Coupang from $22.00 to $20.00 and set a “neutral” rating on the stock in a research note on Monday, March 2nd. Barclays upped their price target on shares of Coupang from $23.00 to $24.00 and gave the company an “overweight” rating in a research report on Monday, March 2nd. Wall Street Zen cut shares of Coupang from a “hold” rating to a “strong sell” rating in a research note on Saturday. Sanford C. Bernstein reissued an “underperform” rating on shares of Coupang in a report on Monday, March 2nd. Finally, Citigroup reduced their price objective on Coupang from $27.00 to $24.00 and set a “buy” rating for the company in a research note on Tuesday, February 10th. Six investment analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Coupang presently has an average rating of “Hold” and an average price target of $26.70.

About Coupang

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.