Tree Line Advisors Hong Kong Ltd. Purchases Shares of 3,900,000 Coupang, Inc. $CPNG

Tree Line Advisors Hong Kong Ltd. purchased a new position in Coupang, Inc. (NYSE:CPNG) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,900,000 shares of the company’s stock, valued at approximately $67,743,000,000. Coupang makes up about 19.3% of Tree Line Advisors Hong Kong Ltd.’s portfolio, making the stock its 3rd largest holding. Tree Line Advisors Hong Kong Ltd. owned about 0.22% of Coupang as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also modified their holdings of CPNG. Norges Bank purchased a new position in Coupang in the fourth quarter valued at $498,333,000. Assenagon Asset Management S.A. grew its stake in Coupang by 1,394.1% during the 1st quarter. Assenagon Asset Management S.A. now owns 17,117,583 shares of the company’s stock worth $323,180,000 after purchasing an additional 15,971,942 shares in the last quarter. Tiger Global Management LLC increased its holdings in Coupang by 65.9% during the 4th quarter. Tiger Global Management LLC now owns 26,267,259 shares of the company’s stock worth $619,645,000 after purchasing an additional 10,429,680 shares during the period. Capital International Investors increased its holdings in Coupang by 20.4% during the 4th quarter. Capital International Investors now owns 41,131,036 shares of the company’s stock worth $970,340,000 after purchasing an additional 6,977,942 shares during the period. Finally, Dragoneer Investment Group LLC raised its position in Coupang by 47.1% in the 4th quarter. Dragoneer Investment Group LLC now owns 21,576,556 shares of the company’s stock valued at $508,991,000 after purchasing an additional 6,910,865 shares in the last quarter. Hedge funds and other institutional investors own 83.72% of the company’s stock.

Insider Activity at Coupang

In other news, insider Harold Rogers sold 192,110 shares of the stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $16.18, for a total value of $3,108,339.80. Following the completion of the sale, the insider directly owned 740,931 shares of the company’s stock, valued at approximately $11,988,263.58. This represents a 20.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Jonathan D. Lee sold 5,519 shares of Coupang stock in a transaction on Monday, August 10th. The shares were sold at an average price of $16.10, for a total transaction of $88,855.90. Following the completion of the transaction, the chief accounting officer directly owned 181,915 shares in the company, valued at $2,928,831.50. The trade was a 2.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 12.83% of the company’s stock.

Coupang Trading Up 1.1%

NYSE:CPNG opened at $16.44 on Friday. Coupang, Inc. has a 1 year low of $14.92 and a 1 year high of $34.08. The stock has a market cap of $29.55 billion, a P/E ratio of -38.23 and a beta of 1.13. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.68 and a current ratio of 0.87. The stock has a 50-day simple moving average of $17.02 and a 200-day simple moving average of $17.87.

Coupang (NYSE:CPNG) last issued its earnings results on Tuesday, August 4th. The company reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.27) by $0.18. The business had revenue of $8.86 billion for the quarter, compared to analyst estimates of $8.92 billion. Coupang had a negative return on equity of 8.77% and a negative net margin of 2.16%.The business’s quarterly revenue was up 3.9% on a year-over-year basis. During the same quarter last year, the company earned $0.02 EPS. As a group, analysts anticipate that Coupang, Inc. will post -0.38 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. The Goldman Sachs Group set a $31.00 price objective on Coupang in a research report on Thursday, July 9th. Deutsche Bank Aktiengesellschaft raised shares of Coupang from a “hold” rating to a “buy” rating and reduced their target price for the company from $23.00 to $21.50 in a report on Wednesday, August 5th. Citigroup downgraded shares of Coupang from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $23.00 to $22.20 in a research note on Wednesday, May 6th. CLSA assumed coverage on shares of Coupang in a report on Monday, June 15th. They set an “outperform” rating and a $24.00 price target for the company. Finally, Barclays restated an “overweight” rating and issued a $29.00 price objective on shares of Coupang in a report on Tuesday, July 7th. Six research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $25.39.

About Coupang

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.