Matthews International Capital Management LLC Boosts Stock Position in Coupang, Inc. (NYSE:CPNG)

Matthews International Capital Management LLC grew its stake in Coupang, Inc. (NYSE:CPNG - Free Report) by 1,278.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 692,388 shares of the company's stock after purchasing an additional 642,158 shares during the period. Coupang comprises approximately 3.1% of Matthews International Capital Management LLC's investment portfolio, making the stock its 11th largest holding. Matthews International Capital Management LLC's holdings in Coupang were worth $15,219,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. FMR LLC increased its holdings in Coupang by 32.0% in the 3rd quarter. FMR LLC now owns 27,153,608 shares of the company's stock worth $666,621,000 after acquiring an additional 6,584,910 shares in the last quarter. State Street Corp increased its holdings in Coupang by 1.9% in the 3rd quarter. State Street Corp now owns 14,125,599 shares of the company's stock worth $346,783,000 after acquiring an additional 259,400 shares in the last quarter. Wellington Management Group LLP increased its holdings in Coupang by 43.2% in the 3rd quarter. Wellington Management Group LLP now owns 8,630,058 shares of the company's stock worth $211,868,000 after acquiring an additional 2,603,046 shares in the last quarter. Geode Capital Management LLC increased its holdings in Coupang by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 5,885,243 shares of the company's stock worth $144,483,000 after acquiring an additional 29,164 shares in the last quarter. Finally, Coronation Fund Managers Ltd. increased its holdings in Coupang by 139.1% in the 3rd quarter. Coronation Fund Managers Ltd. now owns 4,817,030 shares of the company's stock worth $118,258,000 after acquiring an additional 2,802,325 shares in the last quarter. Hedge funds and other institutional investors own 83.72% of the company's stock.

Analyst Upgrades and Downgrades

CPNG has been the subject of several recent analyst reports. Sanford C. Bernstein raised shares of Coupang from an "underperform" rating to an "outperform" rating and set a $30.00 price target for the company in a report on Monday, October 7th. Citigroup dropped their target price on shares of Coupang from $31.00 to $28.00 and set a "buy" rating for the company in a report on Wednesday, January 8th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $27.56.

Insider Activity

In other Coupang news, Director Greenoaks Capital Partners Llc purchased 750,000 shares of the stock in a transaction on Friday, November 8th. The stock was bought at an average price of $24.01 per share, for a total transaction of $18,007,500.00. Following the acquisition, the director now directly owns 52,038,723 shares of the company's stock, valued at $1,249,449,739.23. This represents a 1.46 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, CEO Bom Kim sold 15,000,000 shares of Coupang stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $22.97, for a total value of $344,550,000.00. Following the completion of the sale, the chief executive officer now owns 2,000,000 shares of the company's stock, valued at $45,940,000. This trade represents a 88.24 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 13.60% of the company's stock.

Coupang Stock Down 0.3 %

Coupang stock traded down $0.06 during mid-day trading on Friday, hitting $23.54. The company had a trading volume of 7,888,062 shares, compared to its average volume of 6,162,595. The stock has a market cap of $42.35 billion, a price-to-earnings ratio of 41.30, a PEG ratio of 41.66 and a beta of 1.10. Coupang, Inc. has a 1 year low of $13.51 and a 1 year high of $26.91. The company has a quick ratio of 0.86, a current ratio of 1.13 and a debt-to-equity ratio of 0.28. The business has a fifty day moving average of $23.11 and a 200 day moving average of $23.36.

Coupang (NYSE:CPNG - Get Free Report) last released its earnings results on Tuesday, November 5th. The company reported $0.06 EPS for the quarter, beating analysts' consensus estimates of $0.01 by $0.05. Coupang had a return on equity of 11.52% and a net margin of 3.57%. The company had revenue of $7.87 billion during the quarter, compared to the consensus estimate of $7.76 billion. During the same quarter last year, the company earned $0.05 earnings per share. Coupang's quarterly revenue was up 27.2% compared to the same quarter last year. On average, sell-side analysts expect that Coupang, Inc. will post 0.14 earnings per share for the current fiscal year.

About Coupang

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.