Kontiki Capital Management HK Ltd. Sells 1,090,349 Shares of Coupang, Inc. $CPNG

Kontiki Capital Management HK Ltd. trimmed its position in shares of Coupang, Inc. (NYSE:CPNG) by 13.8% in the third quarter, HoldingsChannel.com reports. The fund owned 6,791,698 shares of the company’s stock after selling 1,090,349 shares during the period. Coupang accounts for 11.6% of Kontiki Capital Management HK Ltd.’s holdings, making the stock its 4th largest position. Kontiki Capital Management HK Ltd.’s holdings in Coupang were worth $218,693,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Orion Capital Management LLC purchased a new stake in Coupang during the third quarter worth about $32,000. Hilltop National Bank purchased a new position in shares of Coupang in the third quarter valued at approximately $34,000. Fifth Third Bancorp grew its holdings in shares of Coupang by 1,250.0% in the third quarter. Fifth Third Bancorp now owns 1,080 shares of the company’s stock valued at $35,000 after purchasing an additional 1,000 shares in the last quarter. Root Financial Partners LLC acquired a new position in shares of Coupang in the third quarter valued at approximately $40,000. Finally, Loomis Sayles & Co. L P purchased a new stake in Coupang during the 2nd quarter worth approximately $45,000. 83.72% of the stock is owned by institutional investors and hedge funds.

Coupang Stock Up 10.8%

Coupang stock opened at $20.45 on Tuesday. Coupang, Inc. has a 1-year low of $16.74 and a 1-year high of $34.08. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.04 and a quick ratio of 0.79. The stock has a market cap of $37.35 billion, a PE ratio of 170.39 and a beta of 1.20. The stock’s fifty day moving average is $19.53 and its two-hundred day moving average is $25.66.

Coupang (NYSE:CPNG) last released its quarterly earnings data on Thursday, February 26th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.03). Coupang had a return on equity of 4.52% and a net margin of 0.60%.The business had revenue of $8.84 billion for the quarter, compared to analyst estimates of $9.12 billion. During the same period in the prior year, the company posted $0.04 earnings per share. The company’s revenue was up 10.9% compared to the same quarter last year. On average, sell-side analysts expect that Coupang, Inc. will post 0.17 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Nomura reduced their target price on shares of Coupang from $22.00 to $20.00 and set a “neutral” rating on the stock in a report on Monday, March 2nd. UBS Group set a $25.00 price target on shares of Coupang in a research note on Thursday, February 19th. Barclays upped their price objective on Coupang from $23.00 to $24.00 and gave the stock an “overweight” rating in a research report on Monday, March 2nd. Citigroup reduced their price objective on Coupang from $27.00 to $24.00 and set a “buy” rating on the stock in a research note on Tuesday, February 10th. Finally, Sanford C. Bernstein reiterated an “underperform” rating on shares of Coupang in a research note on Monday, March 2nd. Six investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $26.70.

Insider Activity at Coupang

In other news, CAO Jonathan D. Lee sold 2,679 shares of the business’s stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $23.62, for a total transaction of $63,277.98. Following the completion of the sale, the chief accounting officer owned 122,096 shares in the company, valued at approximately $2,883,907.52. The trade was a 2.15% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Neil Mehta bought 2,332,863 shares of the stock in a transaction dated Friday, March 13th. The stock was bought at an average price of $18.40 per share, with a total value of $42,924,679.20. Following the acquisition, the director owned 55,310,977 shares in the company, valued at approximately $1,017,721,976.80. This represents a 4.40% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders have purchased 7,350,104 shares of company stock valued at $136,566,051. 12.78% of the stock is owned by company insiders.

Coupang Company Profile

Coupang, listed on the New York Stock Exchange under the ticker CPNG, is a South Korean e-commerce company headquartered in Seoul. Founded in 2010 by Bom Kim, the company grew rapidly by combining an online marketplace with a large direct-retail business model. Coupang completed a primary listing in the United States in 2021, and it has become one of South Korea’s leading online retailers by focusing on convenience, speed and a wide product assortment across consumer categories.

The company operates a vertically integrated e-commerce platform that includes a customer-facing marketplace and an extensive logistics and fulfillment network.