Coupang, Inc. $CPNG Holdings Decreased by Matthews International Capital Management LLC

Matthews International Capital Management LLC lessened its stake in shares of Coupang, Inc. (NYSE:CPNG) by 65.1% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 61,907 shares of the company’s stock after selling 115,631 shares during the quarter. Coupang comprises 0.4% of Matthews International Capital Management LLC’s portfolio, making the stock its 28th largest holding. Matthews International Capital Management LLC’s holdings in Coupang were worth $859,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Main Street Group LTD bought a new position in Coupang in the 1st quarter worth about $40,000. Pinnacle Wealth Planning Services Inc. raised its holdings in shares of Coupang by 652.6% in the 3rd quarter. Pinnacle Wealth Planning Services Inc. now owns 2,702 shares of the company’s stock valued at $37,000 after acquiring an additional 2,343 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Coupang during the 3rd quarter valued at about $40,000. Trellis Wealth Advisors LLC bought a new stake in shares of Coupang during the 3rd quarter valued at about $44,000. Finally, Essential Partners LLC grew its holdings in shares of Coupang by 193.4% during the first quarter. Essential Partners LLC now owns 3,448 shares of the company’s stock worth $65,000 after purchasing an additional 2,273 shares in the last quarter. 83.72% of the stock is currently owned by institutional investors.

Insider Activity

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

Coupang Stock Performance

NYSE:CPNG opened at $16.33 on Wednesday. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.58 and a current ratio of 0.80. Coupang, Inc. has a fifty-two week low of $13.35 and a fifty-two week high of $29.08. The business has a 50 day moving average price of $14.74 and a 200-day moving average price of $17.11. The firm has a market cap of $29.35 billion, a PE ratio of -21.49 and a beta of 1.15.

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

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CPNG. Bank of America decreased their price target on shares of Coupang from $27.00 to $24.00 and set a “buy” rating on the stock in a report on Wednesday, August 5th. Sanford C. Bernstein cut their target price on shares of Coupang from $12.00 to $11.00 and set an “underperform” rating for the company in a research report on Thursday, November 5th. Deutsche Bank Aktiengesellschaft raised Coupang from a “hold” rating to a “buy” rating and reduced their target price for the company from $23.00 to $21.50 in a research note on Wednesday, August 5th. Wall Street Zen upgraded Coupang from a “strong sell” rating to a “sell” rating in a research report on Saturday. Finally, Citigroup raised Coupang from a “neutral” rating to a “buy” rating and set a $19.00 price target for the company in a research note on Wednesday, November 4th. Six investment analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Coupang has a consensus rating of “Hold” and an average target price of $23.41.

Coupang Company Profile

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.