Dragoneer Investment Group LLC Decreases Stake in Coupang, Inc. (NYSE:CPNG)

Dragoneer Investment Group LLC decreased its holdings in Coupang, Inc. (NYSE:CPNG) by 12.3% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,862,894 shares of the company’s stock after selling 2,362,881 shares during the period. Coupang accounts for about 6.7% of Dragoneer Investment Group LLC’s portfolio, making the stock its 4th biggest holding. Dragoneer Investment Group LLC’s holdings in Coupang were worth $353,278,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Baillie Gifford & Co. increased its holdings in Coupang by 1.6% in the 2nd quarter. Baillie Gifford & Co. now owns 171,350,025 shares of the company’s stock valued at $3,589,783,000 after acquiring an additional 2,749,027 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings 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 worth $1,403,015,000 after purchasing an additional 18,894,909 shares during the last quarter. WCM Investment Management LLC boosted its stake in Coupang by 2,250.9% during the first quarter. WCM Investment Management LLC now owns 44,926,485 shares of the company’s stock valued at $799,242,000 after buying an additional 43,015,433 shares during the last quarter. Sands Capital Management LLC grew its holdings in Coupang by 0.7% during the 4th quarter. Sands Capital Management LLC now owns 14,440,552 shares of the company’s stock valued at $233,793,000 after buying an additional 98,043 shares in the last quarter. Finally, Foxhaven Asset Management LP increased its stake in Coupang by 8.0% in the 4th quarter. Foxhaven Asset Management LP now owns 12,272,369 shares of the company’s stock worth $198,690,000 after acquiring an additional 904,065 shares during the last quarter. Hedge funds and other institutional investors own 83.72% of the company’s stock.

Coupang Trading Down 0.2 %

Shares of CPNG opened at $24.89 on Thursday. Coupang, Inc. has a twelve month low of $13.51 and a twelve month high of $25.19. The company has a current ratio of 1.12, a quick ratio of 0.87 and a debt-to-equity ratio of 0.72. The company’s fifty day simple moving average is $22.31 and its 200-day simple moving average is $21.49. The company has a market cap of $44.64 billion, a P/E ratio of 35.55, a P/E/G ratio of 181.74 and a beta of 1.10.

Coupang (NYSE:CPNG) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.08. Coupang had a net margin of 3.87% and a return on equity of 12.04%. The business had revenue of $7.32 billion during the quarter, compared to the consensus estimate of $7.39 billion. During the same quarter last year, the firm earned $0.08 earnings per share. The firm’s quarterly revenue was up 25.4% compared to the same quarter last year. As a group, analysts expect that Coupang, Inc. will post 0.14 EPS for the current year.

Wall Street Analyst Weigh In

CPNG has been the subject of a number of research reports. Morgan Stanley increased their target price on Coupang from $26.00 to $27.00 and gave the company an “overweight” rating in a research report on Wednesday, June 26th. CLSA raised shares of Coupang from a “hold” rating to an “outperform” rating and lifted their price objective for the stock from $18.00 to $31.00 in a research note on Wednesday, September 4th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $27.25.

Insider Buying and Selling

In other Coupang news, Director Benjamin Sun sold 200,000 shares of the company’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $23.36, for a total value of $4,672,000.00. Following the transaction, the director now owns 1,969,421 shares of the company’s stock, valued at approximately $46,005,674.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Pranam Kolari sold 10,432 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $19.90, for a total transaction of $207,596.80. Following the transaction, the insider now directly owns 170,356 shares of the company’s stock, valued at $3,390,084.40. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Benjamin Sun sold 200,000 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $23.36, for a total value of $4,672,000.00. Following the completion of the sale, the director now owns 1,969,421 shares of the company’s stock, valued at approximately $46,005,674.56. The disclosure for this sale can be found here. In the last three months, insiders acquired 601,300 shares of company stock valued at $13,604,354 and sold 410,432 shares valued at $9,429,597. 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.