Assenagon Asset Management S.A. Purchases 2,251,819 Shares of Coupang, Inc. (NYSE:CPNG)

Assenagon Asset Management S.A. boosted its position in shares of Coupang, Inc. (NYSE:CPNG) by 204.7% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 3,352,002 shares of the company’s stock after purchasing an additional 2,251,819 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Coupang were worth $73,509,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wingate Wealth Advisors Inc. bought a new stake in Coupang during the 4th quarter worth approximately $26,000. Itau Unibanco Holding S.A. lifted its stake in shares of Coupang by 520.6% in the 4th quarter. Itau Unibanco Holding S.A. now owns 1,955 shares of the company’s stock valued at $43,000 after purchasing an additional 1,640 shares during the last quarter. Allworth Financial LP raised its holdings in Coupang by 11,033.3% during the 4th quarter. Allworth Financial LP now owns 2,004 shares of the company’s stock valued at $45,000 after buying an additional 1,986 shares during the period. TD Waterhouse Canada Inc. boosted its stake in shares of Coupang by 142.9% during the 4th quarter. TD Waterhouse Canada Inc. now owns 2,429 shares of the company’s stock worth $53,000 after purchasing an additional 1,429 shares during the period. Finally, Signaturefd LLC grew its holdings in Coupang by 34.7% during the 4th quarter. Signaturefd LLC now owns 3,193 shares of the company’s stock valued at $70,000 after purchasing an additional 822 shares during the last quarter. Institutional investors own 83.72% of the company’s stock.

Coupang Stock Down 0.0%

Coupang stock opened at $28.25 on Thursday. Coupang, Inc. has a 1-year low of $18.16 and a 1-year high of $29.12. The stock has a market capitalization of $51.29 billion, a price-to-earnings ratio of 49.56, a PEG ratio of 52.20 and a beta of 1.15. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.13 and a quick ratio of 0.86. The business has a fifty day moving average price of $24.92 and a 200-day moving average price of $23.85.

Coupang (NYSE:CPNG) last released its earnings results on Tuesday, May 6th. The company reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.01). The company had revenue of $7.91 billion during the quarter, compared to analyst estimates of $8.02 billion. Coupang had a return on equity of 11.52% and a net margin of 3.57%. The company’s revenue was up 11.2% on a year-over-year basis. Equities research analysts forecast that Coupang, Inc. will post 0.17 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently weighed in on CPNG. Mizuho upgraded Coupang to a “hold” rating in a research report on Friday, April 18th. Barclays raised their price target on Coupang from $35.00 to $36.00 and gave the company an “overweight” rating in a research note on Thursday, May 8th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Coupang from a “hold” rating to a “buy” rating and set a $28.50 price objective for the company in a research note on Wednesday, February 26th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $29.64.

Insiders Place Their Bets

In other Coupang news, Director Benjamin Sun sold 250,000 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $23.43, for a total value of $5,857,500.00. Following the sale, the director now directly owns 1,719,421 shares of the company’s stock, 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, CFO Gaurav Anand sold 175,000 shares of the stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $28.11, for a total value of $4,919,250.00. Following the transaction, the chief financial officer now owns 2,092,290 shares in the company, valued at $58,814,271.90. This trade represents a 7.72% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 30,709,697 shares of company stock valued at $791,138,311. 12.78% of the stock is owned by company insiders.

About Coupang

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.