Krane Funds Advisors LLC Reduces Stake in Coupang, Inc. (NYSE:CPNG)

Krane Funds Advisors LLC lowered its holdings in Coupang, Inc. (NYSE:CPNG) by 15.3% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 13,779 shares of the company’s stock after selling 2,487 shares during the quarter. Krane Funds Advisors LLC’s holdings in Coupang were worth $223,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the business. Private Advisor Group LLC boosted its position in shares of Coupang by 1.6% in the 4th quarter. Private Advisor Group LLC now owns 47,052 shares of the company’s stock valued at $762,000 after purchasing an additional 760 shares during the period. Raymond James & Associates boosted its position in shares of Coupang by 1.2% in the 4th quarter. Raymond James & Associates now owns 87,812 shares of the company’s stock valued at $1,422,000 after purchasing an additional 1,031 shares during the period. Johnson Investment Counsel Inc. boosted its position in shares of Coupang by 1.5% in the 4th quarter. Johnson Investment Counsel Inc. now owns 73,612 shares of the company’s stock valued at $1,192,000 after purchasing an additional 1,080 shares during the period. M&T Bank Corp lifted its position in Coupang by 1.0% during the 4th quarter. M&T Bank Corp now owns 143,550 shares of the company’s stock worth $2,324,000 after acquiring an additional 1,461 shares during the period. Finally, Catalyst Private Wealth LLC lifted its position in Coupang by 4.3% during the 4th quarter. Catalyst Private Wealth LLC now owns 36,104 shares of the company’s stock worth $585,000 after acquiring an additional 1,496 shares during the period. Hedge funds and other institutional investors own 83.72% of the company’s stock.

Coupang Trading Down 1.4 %

Coupang stock traded down $0.30 during midday trading on Friday, reaching $21.40. The stock had a trading volume of 6,159,467 shares, compared to its average volume of 6,091,464. Coupang, Inc. has a twelve month low of $13.51 and a twelve month high of $23.77. The stock has a market capitalization of $38.26 billion, a PE ratio of 30.57, a price-to-earnings-growth ratio of 8.79 and a beta of 1.12. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.89 and a current ratio of 1.15. The stock’s 50-day simple moving average is $22.15 and its 200 day simple moving average is $18.41.

Coupang (NYSE:CPNG) last issued its quarterly earnings data on Tuesday, May 7th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). The company had revenue of $7.11 billion for the quarter, compared to analyst estimates of $6.95 billion. Coupang had a return on equity of 13.59% and a net margin of 4.96%. The company’s revenue for the quarter was up 22.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.05 EPS. Analysts expect that Coupang, Inc. will post 0.13 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CPNG. TheStreet raised Coupang from a “d+” rating to a “c-” rating in a research report on Tuesday, March 5th. Citigroup increased their target price on Coupang from $26.00 to $28.00 and gave the stock a “buy” rating in a research note on Wednesday, May 8th. Deutsche Bank Aktiengesellschaft raised Coupang from a “hold” rating to a “buy” rating and increased their target price for the stock from $18.50 to $21.00 in a research note on Thursday, February 29th. Bank of America initiated coverage on Coupang in a research note on Friday, May 3rd. They set a “buy” rating and a $30.00 target price for the company. Finally, Barclays increased their target price on Coupang from $25.00 to $32.00 and gave the stock an “overweight” rating in a research note on Thursday, May 9th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $26.67.

Insiders Place Their Bets

In other news, CAO Jonathan D. Lee sold 5,000 shares of Coupang stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $21.45, for a total transaction of $107,250.00. Following the sale, the chief accounting officer now directly owns 120,835 shares of the company’s stock, valued at $2,591,910.75. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, Director Hanseung Kang sold 40,000 shares of Coupang stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $23.00, for a total transaction of $920,000.00. Following the sale, the director now directly owns 544,478 shares of the company’s stock, valued at $12,522,994. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Jonathan D. Lee sold 5,000 shares of the business’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $21.45, for a total value of $107,250.00. Following the completion of the sale, the chief accounting officer now directly owns 120,835 shares of the company’s stock, valued at $2,591,910.75. The disclosure for this sale can be found here. Insiders have sold a total of 192,618 shares of company stock worth $3,760,028 over the last quarter. 13.60% of the stock is owned by corporate insiders.

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.