Tree Line Advisors Hong Kong Ltd. Takes $67.74 Million Position in Coupang, Inc. $CPNG

Tree Line Advisors Hong Kong Ltd. purchased a new stake in Coupang, Inc. (NYSE:CPNG) in the second quarter, according to the company in its most recent 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. Coupang accounts for 0.0% of Tree Line Advisors Hong Kong Ltd.’s investment portfolio, making the stock its 3rd largest position. Tree Line Advisors Hong Kong Ltd. owned 0.22% of Coupang at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Flossbach Von Storch SE purchased a new stake in shares of Coupang during the second quarter worth $2,084,000. Handelsbanken Fonder AB boosted its stake in Coupang by 10.2% in the second quarter. Handelsbanken Fonder AB now owns 702,968 shares of the company’s stock valued at $12,211,000 after acquiring an additional 64,967 shares during the period. Sapient Capital LLC grew its stake in shares of Coupang by 2.9% in the 2nd quarter. Sapient Capital LLC now owns 128,526 shares of the company’s stock worth $2,232,000 after purchasing an additional 3,637 shares during the last quarter. 180 Wealth Advisors LLC grew its stake in Coupang by 10.3% in the second quarter. 180 Wealth Advisors LLC now owns 39,230 shares of the company’s stock valued at $681,000 after purchasing an additional 3,668 shares in the last quarter. Finally, Post Resch Tallon Group Inc. acquired a new position in shares of Coupang during the second quarter valued at about $216,000. Hedge funds and other institutional investors own 83.72% of the company’s stock.

Insider Buying and Selling

In related news, CAO Jonathan D. Lee sold 5,519 shares of the business’s stock in a transaction that occurred on Monday, August 10th. The stock was 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 owned 181,915 shares in the company, valued at $2,928,831.50. The trade was a 2.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Harold Rogers sold 192,110 shares of the business’s stock in a transaction that occurred on Monday, August 10th. The shares were 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. The trade was a 20.59% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 12.83% of the company’s stock.

Coupang Price Performance

Shares of NYSE:CPNG traded up $0.29 during trading on Friday, reaching $16.52. 4,697,550 shares of the company traded hands, compared to its average volume of 22,579,789. The firm has a market capitalization of $29.69 billion, a PE ratio of -38.42 and a beta of 1.13. The company’s 50 day moving average is $16.90 and its two-hundred day moving average is $17.80. The company has a quick ratio of 0.68, a current ratio of 0.87 and a debt-to-equity ratio of 0.21. Coupang, Inc. has a 52 week low of $14.92 and a 52 week high of $34.08.

Coupang (NYSE:CPNG) last released its earnings results on Tuesday, August 4th. The company reported ($0.09) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.18. The firm had revenue of $8.86 billion during the quarter, compared to the consensus estimate of $8.92 billion. Coupang had a negative net margin of 2.16% and a negative return on equity of 8.77%. The company’s revenue was up 3.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.02 EPS. As a group, sell-side analysts predict that Coupang, Inc. will post -0.46 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CPNG. Weiss Ratings restated a “sell (d)” rating on shares of Coupang in a research note on Tuesday, August 4th. CLSA began coverage on Coupang in a report on Monday, June 15th. They set an “outperform” rating and a $24.00 price target on the stock. Barclays reiterated an “overweight” rating and issued a $29.00 target price on shares of Coupang in a research note on Tuesday, July 7th. Mizuho set a $22.00 target price on shares of Coupang in a research note on Wednesday, August 5th. Finally, Bank of America cut their price objective on shares of Coupang from $27.00 to $24.00 and set a “buy” rating on the stock in a report on Wednesday, August 5th. Six equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Coupang currently has an average rating of “Hold” and an average price target of $25.39.

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.