Two Creeks Capital Management LP Raises Position in Coupang, Inc. (NYSE:CPNG)

Two Creeks Capital Management LP boosted its position in Coupang, Inc. (NYSE:CPNG) by 0.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,768,663 shares of the company’s stock after buying an additional 2,249 shares during the quarter. Coupang makes up about 3.7% of Two Creeks Capital Management LP’s holdings, making the stock its 13th largest position. Two Creeks Capital Management LP owned about 0.15% of Coupang worth $60,855,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD boosted its holdings in shares of Coupang by 29.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 75,686,648 shares of the company’s stock worth $1,663,594,000 after acquiring an additional 17,123,637 shares during the period. FMR LLC increased its position in shares of Coupang by 9.1% during the fourth quarter. FMR LLC now owns 29,619,581 shares of the company’s stock valued at $651,038,000 after buying an additional 2,465,973 shares during the period. Dodge & Cox lifted its holdings in shares of Coupang by 0.6% in the fourth quarter. Dodge & Cox now owns 20,229,320 shares of the company’s stock worth $444,640,000 after buying an additional 123,900 shares in the last quarter. Norges Bank bought a new position in shares of Coupang in the fourth quarter valued at approximately $404,896,000. Finally, Coronation Fund Managers Ltd. grew its stake in Coupang by 53.3% during the fourth quarter. Coronation Fund Managers Ltd. now owns 7,383,611 shares of the company’s stock valued at $162,292,000 after acquiring an additional 2,566,581 shares in the last quarter. 83.72% of the stock is currently owned by institutional investors.

Insider Transactions at Coupang

In other news, Director Benjamin Sun sold 250,000 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $23.43, for a total value of $5,857,500.00. Following the transaction, the director now owns 1,719,421 shares in the company, valued at approximately $40,286,034.03. This trade represents a 12.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Pranam Kolari sold 8,459 shares of the business’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $22.98, for a total transaction of $194,387.82. Following the transaction, the vice president now owns 136,806 shares in the company, valued at $3,143,801.88. This represents a 5.82 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 13.60% of the company’s stock.

Wall Street Analysts Forecast Growth

CPNG has been the topic of several recent analyst reports. Citigroup lowered their target price on shares of Coupang from $31.00 to $28.00 and set a “buy” rating on the stock in a research note on Wednesday, January 8th. Barclays set a $35.00 price objective on Coupang and gave the company an “overweight” rating in a research note on Thursday, February 27th. Deutsche Bank Aktiengesellschaft upgraded Coupang from a “hold” rating to a “buy” rating and set a $28.50 target price on the stock in a research note on Wednesday, February 26th. Finally, Mizuho upgraded Coupang to a “hold” rating in a research report on Friday, April 18th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, Coupang has an average rating of “Moderate Buy” and a consensus target price of $29.17.

Coupang Stock Performance

NYSE:CPNG opened at $21.67 on Wednesday. The company has a market capitalization of $39.12 billion, a price-to-earnings ratio of 38.02, a PEG ratio of 52.20 and a beta of 1.09. The business has a 50 day moving average of $22.74 and a 200 day moving average of $23.54. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.13 and a quick ratio of 0.86. Coupang, Inc. has a 1-year low of $18.16 and a 1-year high of $26.91.

Coupang Company Profile

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.