Dragoneer Investment Group LLC decreases stake in Coupang, Inc. (NYSE:CPNG)

Dragoneer Investment Group LLC reduced its holdings in Coupang, Inc. (NYSE:CPNG – Free Report ) 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 makes up about 6.7% of Dragoneer Investment Group LLC’s portfolio, making the stock its 4th largest holding. Dragoneer Investment Group LLC’s holdings in Coupang were worth $353,278,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Baillie Gifford & Co. raised its holdings in Coupang by 1.6% in the second quarter. Baillie Gifford & Co. now owns 171,350,025 shares of the company’s stock valued at $3,589,783,000 after purchasing an additional 2,749,027 shares in the last quarter. Price T Rowe Associates Inc. MD boosted 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 buying an additional 18,894,909 shares in the last quarter. WCM Investment Management LLC boosted its stake in Coupang by 2,250.9% in 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 in the last quarter. Sands Capital Management LLC raised 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 boosted its stake in Coupang by 8.0% in the fourth quarter. Foxhaven Asset Management LP now owns 12,272,369 shares of the company’s stock worth $198,690,000 after purchasing an additional 904,065 shares in the last quarter. Hedge funds and other institutional investors own 83.72% of the company’s shares.

Coupang trading down 0.2%

Shares of CPNG stock opened at $24.89 on Thursday. Coupang, Inc. has a 12-month low of $13.51 and a 12-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 – Get Your Free Report ) 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 company earned $0.08 per share. The company’s quarterly revenue was up 25.4% compared to the same quarter last year. As a group, analysts expect Coupang, Inc. will record 0.14 EPS for the current year.

The Wall Street analyst weighs in

CPNG has been the subject of a number of research reports. Morgan Stanley boosted 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. The company currently has a consensus rating of “Moderate Buy” and a consensus price target of $27.25, according to MarketBeat.com.

Check out our latest research report on CPNG

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 via this hyperlink. In other news, insider Pranam Kolari sold 10,432 shares of the business’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 via this hyperlink. Also, Director Benjamin Sun sold 200,000 shares of the company’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. Over the last three months, insiders purchased 601,300 shares of company stock valued at $13,604,354 and sold 410,432 shares valued at $9,429,597. 13.60% of shares are owned by corporate insiders.

About Coupang

(Free Report)

Coupang, Inc, together with its subsidiaries, owns and operates retail businesses through its mobile applications and internet websites, primarily in South Korea. The company operates through the Product Trading and Offer Development segments. It sells various products and services in the categories of home goods and decor, clothing, beauty products, fresh food and grocery, sporting goods, electronics and daily consumables, as well as travel and order and delivery services at restaurant.

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