Coupang, Inc. (NYSE:CPNG) Stake Lifted by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. raised its stake in Coupang, Inc. (NYSE:CPNG) by 85.4% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 1,100,183 shares of the company’s stock after buying an additional 506,622 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Coupang were worth $24,182,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Ignite Planners LLC increased its holdings in shares of Coupang by 2.5% in the 4th quarter. Ignite Planners LLC now owns 20,162 shares of the company’s stock worth $452,000 after acquiring an additional 483 shares during the period. Van ECK Associates Corp increased its stake in shares of Coupang by 63.1% in the third quarter. Van ECK Associates Corp now owns 1,251 shares of the company’s stock valued at $32,000 after purchasing an additional 484 shares during the period. Covestor Ltd raised its holdings in shares of Coupang by 10.4% during the third quarter. Covestor Ltd now owns 6,479 shares of the company’s stock valued at $159,000 after buying an additional 612 shares during the last quarter. Janus Henderson Group PLC boosted its position in shares of Coupang by 2.2% during the third quarter. Janus Henderson Group PLC now owns 34,598 shares of the company’s stock worth $850,000 after buying an additional 747 shares during the period. Finally, Advisory Resource Group grew its holdings in Coupang by 1.9% in the 3rd quarter. Advisory Resource Group now owns 44,096 shares of the company’s stock worth $1,083,000 after buying an additional 823 shares in the last quarter. 83.72% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Greenoaks Capital Partners Llc purchased 750,000 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The stock was acquired at an average price of $24.01 per share, for a total transaction of $18,007,500.00. Following the transaction, the director now directly owns 52,038,723 shares of the company’s stock, valued at $1,249,449,739.23. This trade represents a 1.46 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Bom Kim sold 15,000,000 shares of Coupang stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $22.97, for a total value of $344,550,000.00. Following the completion of the transaction, the chief executive officer now directly owns 2,000,000 shares in the company, valued at $45,940,000. This represents a 88.24 % decrease in their position. The disclosure for this sale can be found here. 13.60% of the stock is currently owned by insiders.

Coupang Trading Down 0.1 %

Shares of Coupang stock opened at $22.31 on Friday. The business has a fifty day simple moving average of $23.56 and a 200-day simple moving average of $23.28. Coupang, Inc. has a fifty-two week low of $13.51 and a fifty-two week high of $26.91. The firm has a market cap of $40.13 billion, a price-to-earnings ratio of 39.14, a price-to-earnings-growth ratio of 34.64 and a beta of 1.10. The company has a quick ratio of 0.86, a current ratio of 1.13 and a debt-to-equity ratio of 0.28.

Coupang (NYSE:CPNG) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.05. The company had revenue of $7.87 billion during the quarter, compared to the consensus estimate of $7.76 billion. Coupang had a net margin of 3.57% and a return on equity of 11.52%. Coupang’s revenue was up 27.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.05 EPS. On average, equities analysts forecast that Coupang, Inc. will post 0.11 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Citigroup cut their target price on Coupang from $31.00 to $28.00 and set a “buy” rating on the stock in a research note on Wednesday, January 8th. Sanford C. Bernstein raised shares of Coupang from an “underperform” rating to an “outperform” rating and set a $30.00 price objective for the company in a report on Monday, October 7th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Coupang presently has a consensus rating of “Moderate Buy” and a consensus target price of $27.56.

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.