Coupang, Inc. (NYSE:CPNG) is Coronation Fund Managers Ltd.'s 3rd Largest Position

Coronation Fund Managers Ltd. increased its position in shares of Coupang, Inc. (NYSE:CPNG - Free Report) by 139.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,817,030 shares of the company's stock after purchasing an additional 2,802,325 shares during the period. Coupang accounts for about 6.6% of Coronation Fund Managers Ltd.'s investment portfolio, making the stock its 3rd largest holding. Coronation Fund Managers Ltd. owned 0.27% of Coupang worth $118,258,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD lifted its stake in shares of Coupang by 31.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 78,865,294 shares of the company's stock valued at $1,403,015,000 after buying an additional 18,894,909 shares during the period. Baillie Gifford & Co. raised its position in Coupang by 1.6% in the second quarter. Baillie Gifford & Co. now owns 171,350,025 shares of the company's stock worth $3,589,783,000 after purchasing an additional 2,749,027 shares in the last quarter. Envestnet Asset Management Inc. grew its stake in shares of Coupang by 2,570.0% during the second quarter. Envestnet Asset Management Inc. now owns 2,049,227 shares of the company's stock valued at $42,931,000 after purchasing an additional 1,972,476 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Coupang by 55.5% during the second quarter. Assenagon Asset Management S.A. now owns 4,524,994 shares of the company's stock valued at $94,799,000 after purchasing an additional 1,615,448 shares during the last quarter. Finally, Dorsal Capital Management LP grew its stake in shares of Coupang by 26.3% during the second quarter. Dorsal Capital Management LP now owns 6,000,000 shares of the company's stock valued at $125,700,000 after purchasing an additional 1,250,000 shares during the last quarter. Institutional investors and hedge funds own 83.72% of the company's stock.

Coupang Stock Performance

NYSE CPNG traded down $0.39 during trading hours on Friday, reaching $25.40. 6,458,210 shares of the company were exchanged, compared to its average volume of 5,816,689. Coupang, Inc. has a 1 year low of $13.51 and a 1 year high of $26.44. The business's 50 day simple moving average is $24.39 and its 200-day simple moving average is $22.73. The company has a quick ratio of 0.87, a current ratio of 1.12 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $45.56 billion, a P/E ratio of 43.79 and a beta of 1.10.

Coupang (NYSE:CPNG - Get Free Report) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.07 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.01) by $0.08. The business had revenue of $7.32 billion during the quarter, compared to the consensus estimate of $7.39 billion. Coupang had a net margin of 3.87% and a return on equity of 12.04%. The firm's quarterly revenue was up 25.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.08 earnings per share. On average, equities research analysts expect that Coupang, Inc. will post -0.03 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on CPNG shares. CLSA upgraded shares of Coupang from a "hold" rating to an "outperform" rating and lifted their price target for the company from $18.00 to $31.00 in a research note on Wednesday, September 4th. Sanford C. Bernstein upgraded shares of Coupang from an "underperform" rating to an "outperform" rating and set a $30.00 price objective for the company in a research report on Monday, October 7th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $27.56.

Insiders Place Their Bets

In other Coupang news, Director Greenoaks Capital Partners Llc purchased 100,000 shares of the firm's stock in a transaction on Thursday, August 15th. The shares were purchased at an average cost of $22.39 per share, with a total value of $2,239,000.00. Following the completion of the purchase, the director now owns 50,376,224 shares of the company's stock, valued at $1,127,923,655.36. The trade was a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Greenoaks Capital Partners Llc bought 100,000 shares of the firm's stock in a transaction that occurred on Thursday, August 15th. The shares were bought at an average cost of $22.39 per share, with a total value of $2,239,000.00. Following the completion of the purchase, the director now directly owns 50,376,224 shares in the company, valued at $1,127,923,655.36. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, Director Benjamin Sun sold 200,000 shares of the business's stock in a transaction on Monday, August 19th. The shares were sold at an average price of $23.36, for a total transaction of $4,672,000.00. Following the transaction, the director now directly owns 1,969,421 shares in the company, valued at approximately $46,005,674.56. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders acquired 601,300 shares of company stock worth $13,604,354 and sold 400,956 shares worth $9,245,164. Company insiders own 13.60% of the company's stock.

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.