Hosking Partners LLP Buys 79,118 Shares of Coupang, Inc. $CPNG

Hosking Partners LLP lifted its stake in Coupang, Inc. (NYSE:CPNG) by 4.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,070,895 shares of the company’s stock after purchasing an additional 79,118 shares during the period. Hosking Partners LLP’s holdings in Coupang were worth $28,723,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of CPNG. Tiger Global Management LLC lifted its holdings in Coupang by 31.7% during the 1st quarter. Tiger Global Management LLC now owns 34,595,407 shares of the company’s stock worth $653,161,000 after buying an additional 8,328,148 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in shares of Coupang by 112.3% in the 3rd quarter. Assenagon Asset Management S.A. now owns 28,102,139 shares of the company’s stock valued at $389,777,000 after buying an additional 14,865,737 shares during the period. Coronation Fund Managers Ltd. increased its stake in shares of Coupang by 98.3% in the 1st quarter. Coronation Fund Managers Ltd. now owns 11,771,286 shares of the company’s stock valued at $222,242,000 after buying an additional 5,835,072 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Coupang by 20.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,366,766 shares of the company’s stock valued at $82,404,000 after buying an additional 732,300 shares during the period. Finally, RDST Capital LLC raised its position in shares of Coupang by 69.3% during the first quarter. RDST Capital LLC now owns 3,646,900 shares of the company’s stock worth $68,853,000 after acquiring an additional 1,492,500 shares during the last quarter. Institutional investors own 83.72% of the company’s stock.

Coupang Stock Performance

CPNG stock opened at $13.87 on Thursday. The business’s fifty day moving average is $15.06 and its 200-day moving average is $16.71. The company has a quick ratio of 0.68, a current ratio of 0.87 and a debt-to-equity ratio of 0.21. The company has a market cap of $24.92 billion, a P/E ratio of -32.24 and a beta of 1.17. Coupang, Inc. has a twelve month low of $13.35 and a twelve month high of $32.35.

Coupang (NYSE:CPNG) last posted its quarterly earnings results on Tuesday, August 4th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.27) by $0.18. Coupang had a negative return on equity of 8.77% and a negative net margin of 2.16%. The business had revenue of $8.86 billion for the quarter, compared to analyst estimates of $8.92 billion. During the same period last year, the company earned $0.02 EPS. The firm’s revenue was up 3.9% on a year-over-year basis. Equities research analysts forecast that Coupang, Inc. will post -0.47 EPS for the current year.

Insiders Place Their Bets

In other news, insider Harold Rogers sold 192,110 shares of the business’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $16.18, for a total value of $3,108,339.80. Following the completion of the transaction, the insider owned 740,931 shares of the company’s stock, valued at $11,988,263.58. The trade was a 20.59% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 value of $75,334.35. Following the completion of the transaction, the chief accounting officer directly owned 176,396 shares of the company’s stock, valued at approximately $2,407,805.40. The trade was a 3.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 203,148 shares of company stock worth $3,272,530. Insiders own 12.83% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. The Goldman Sachs Group set a $31.00 price target on Coupang in a research note on Thursday, July 9th. Weiss Ratings reiterated a “sell (d)” rating on shares of Coupang in a research report on Tuesday, August 4th. Deutsche Bank Aktiengesellschaft raised Coupang from a “hold” rating to a “buy” rating and dropped their price objective for the stock from $23.00 to $21.50 in a report on Wednesday, August 5th. Barclays restated an “overweight” rating and set a $29.00 target price on shares of Coupang in a research report on Tuesday, July 7th. Finally, Mizuho set a $22.00 target price on shares of Coupang in a research report on Wednesday, August 5th. Five research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $24.06.

About Coupang

Coupang, Inc is an e-commerce and technology company that operates a large digital retail platform. The company offers a broad selection of merchandise, including electronics, household goods, apparel, beauty products and groceries. Its services include Rocket Delivery, a fast-delivery program; Rocket Fresh, which focuses on fresh food and groceries; and Wow, a membership program that provides delivery and other customer benefits.

Coupang also operates Coupang Eats, a restaurant-ordering and delivery service, as well as Coupang Play, a digital video streaming platform.