Tree Line Advisors Hong Kong Ltd. Invests $67.74 Billion in Coupang, Inc. $CPNG

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

A number of other hedge funds have also recently added to or reduced their stakes in CPNG. California State Teachers Retirement System boosted its holdings in Coupang by 0.5% in the 3rd quarter. California State Teachers Retirement System now owns 78,679 shares of the company’s stock valued at $2,533,000 after purchasing an additional 361 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Coupang by 19.5% during the 4th quarter. EverSource Wealth Advisors LLC now owns 3,651 shares of the company’s stock worth $86,000 after buying an additional 597 shares in the last quarter. National Bank of Canada FI lifted its holdings in shares of Coupang by 6.6% in the 3rd quarter. National Bank of Canada FI now owns 9,801 shares of the company’s stock valued at $316,000 after buying an additional 609 shares during the period. Assetmark Inc. lifted its holdings in shares of Coupang by 9.5% in the 4th quarter. Assetmark Inc. now owns 7,150 shares of the company’s stock valued at $169,000 after buying an additional 620 shares during the period. Finally, Vise Technologies Inc. boosted its stake in shares of Coupang by 3.0% in the fourth quarter. Vise Technologies Inc. now owns 22,302 shares of the company’s stock valued at $526,000 after buying an additional 642 shares in the last quarter. Institutional investors and hedge funds own 83.72% of the company’s stock.

Coupang Stock Up 1.1%

Coupang stock opened at $16.44 on Friday. Coupang, Inc. has a fifty-two week low of $14.92 and a fifty-two week high of $34.08. The firm has a market capitalization of $29.55 billion, a price-to-earnings ratio of -38.23 and a beta of 1.13. The stock’s fifty day moving average is $17.02 and its two-hundred day moving average is $17.87. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.68 and a current ratio of 0.87.

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

Wall Street Analysts Forecast Growth

CPNG has been the topic of a number of recent analyst reports. The Goldman Sachs Group set a $31.00 price objective on Coupang in a report on Thursday, July 9th. Mizuho set a $22.00 target price on Coupang in a report on Wednesday, August 5th. Bank of America decreased their target price on shares of Coupang from $27.00 to $24.00 and set a “buy” rating on the stock in a research report on Wednesday, August 5th. Deutsche Bank Aktiengesellschaft upgraded shares of Coupang from a “hold” rating to a “buy” rating and cut their price target for the company from $23.00 to $21.50 in a report on Wednesday, August 5th. Finally, Barclays reiterated an “overweight” rating and issued a $29.00 price objective on shares of Coupang in a research note on Tuesday, July 7th. Six equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $25.39.

Insider Activity

In other Coupang news, CAO Jonathan D. Lee sold 5,519 shares of Coupang stock in a transaction dated 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 owned 181,915 shares in the company, valued at approximately $2,928,831.50. The trade was a 2.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Harold Rogers sold 192,110 shares of the company’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $16.18, for a total transaction of $3,108,339.80. Following the completion of the sale, the insider directly owned 740,931 shares in the company, valued at $11,988,263.58. This trade represents a 20.59% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 12.83% of the company’s stock.

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.