Makena Capital Management LLC Sells 269,282 Shares of Coupang, Inc. $CPNG

Makena Capital Management LLC lessened its position in Coupang, Inc. (NYSE:CPNG) by 31.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 591,989 shares of the company’s stock after selling 269,282 shares during the period. Coupang comprises about 2.0% of Makena Capital Management LLC’s portfolio, making the stock its 18th largest holding. Makena Capital Management LLC’s holdings in Coupang were worth $19,062,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the company. Dodge & Cox lifted its stake in Coupang by 14.3% in the 2nd quarter. Dodge & Cox now owns 46,614,520 shares of the company’s stock valued at $1,396,571,000 after purchasing an additional 5,829,600 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Coupang by 343.5% in the third quarter. Vanguard Group Inc. now owns 28,595,825 shares of the company’s stock valued at $920,786,000 after buying an additional 22,147,432 shares during the last quarter. Durable Capital Partners LP lifted its position in shares of Coupang by 7.5% in the second quarter. Durable Capital Partners LP now owns 24,743,982 shares of the company’s stock valued at $741,330,000 after buying an additional 1,734,980 shares during the last quarter. Norges Bank bought a new position in shares of Coupang during the 2nd quarter worth approximately $587,186,000. Finally, Holocene Advisors LP increased its holdings in shares of Coupang by 24.5% during the 2nd quarter. Holocene Advisors LP now owns 15,689,845 shares of the company’s stock worth $470,068,000 after acquiring an additional 3,083,854 shares during the last quarter. 83.72% of the stock is currently owned by institutional investors and hedge funds.

Coupang Stock Up 1.3%

CPNG opened at $18.70 on Monday. Coupang, Inc. has a fifty-two week low of $16.74 and a fifty-two week high of $34.08. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.82 and a current ratio of 1.06. The company has a market capitalization of $34.15 billion, a P/E ratio of 89.03 and a beta of 1.20. The stock has a fifty day moving average of $20.91 and a 200-day moving average of $26.71.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Sanford C. Bernstein assumed coverage on Coupang in a research note on Thursday, February 5th. They issued an “underperform” rating and a $17.00 price target on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of Coupang from a “hold” rating to a “buy” rating and set a $25.00 price objective on the stock in a report on Friday, January 16th. Mizuho raised their target price on shares of Coupang from $30.00 to $32.00 and gave the stock a “neutral” rating in a research note on Thursday, November 6th. Nomura downgraded shares of Coupang from a “buy” rating to a “neutral” rating and set a $22.00 target price for the company. in a report on Monday, January 12th. Finally, UBS Group set a $25.00 price target on shares of Coupang in a report on Thursday. Six equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $27.70.

Insiders Place Their Bets

In other Coupang news, CAO Jonathan D. Lee sold 2,679 shares of the business’s stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $23.62, for a total value of $63,277.98. Following the completion of the sale, the chief accounting officer owned 122,096 shares of the company’s stock, valued at $2,883,907.52. The trade was a 2.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 12.78% of the stock is owned by company insiders.

Coupang 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.