Mirae Asset Global Investments Co. Ltd. Has $736,000 Stake in Coupang, Inc. $CPNG

Mirae Asset Global Investments Co. Ltd. trimmed its holdings in shares of Coupang, Inc. (NYSE:CPNG) by 97.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 24,561 shares of the company’s stock after selling 1,080,522 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Coupang were worth $736,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. Dodge & Cox increased its position in Coupang by 101.6% during the first quarter. Dodge & Cox now owns 40,784,920 shares of the company’s stock worth $894,413,000 after buying an additional 20,555,600 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in Coupang by 436.6% during the first quarter. Massachusetts Financial Services Co. MA now owns 8,686,580 shares of the company’s stock worth $190,497,000 after buying an additional 7,067,830 shares during the last quarter. GQG Partners LLC acquired a new position in Coupang during the first quarter worth $168,127,000. Coronation Fund Managers Ltd. grew its position in shares of Coupang by 2.4% in the first quarter. Coronation Fund Managers Ltd. now owns 7,559,777 shares of the company’s stock valued at $165,786,000 after purchasing an additional 176,166 shares during the last quarter. Finally, Altimeter Capital Management LP increased its stake in shares of Coupang by 24.3% in the first quarter. Altimeter Capital Management LP now owns 7,441,445 shares of the company’s stock worth $163,191,000 after purchasing an additional 1,455,555 shares during the period. 83.72% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Nomura Securities upgraded Coupang to a “strong-buy” rating in a research note on Wednesday, August 6th. Nomura upgraded Coupang from a “neutral” rating to a “buy” rating and set a $35.00 price target for the company in a report on Wednesday, August 6th. Deutsche Bank Aktiengesellschaft lowered Coupang from a “buy” rating to a “hold” rating and set a $27.00 price target for the company. in a report on Wednesday, August 6th. Morgan Stanley upped their price target on Coupang from $32.00 to $35.00 and gave the stock an “overweight” rating in a report on Wednesday, August 20th. Finally, Zacks Research lowered Coupang from a “hold” rating to a “strong sell” rating in a report on Monday, October 6th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $33.50.

Coupang Stock Down 3.7%

NYSE CPNG opened at $31.26 on Friday. The company has a current ratio of 1.09, a quick ratio of 0.84 and a debt-to-equity ratio of 0.18. The stock’s 50 day moving average is $30.49 and its two-hundred day moving average is $27.94. The company has a market capitalization of $56.98 billion, a price-to-earnings ratio of 156.28 and a beta of 1.18. Coupang, Inc. has a 1-year low of $19.02 and a 1-year high of $34.08.

Coupang (NYSE:CPNG) last released its quarterly earnings data on Tuesday, August 5th. The company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.05). The company had revenue of $8.52 billion for the quarter, compared to analyst estimates of $8.34 billion. Coupang had a net margin of 1.13% and a return on equity of 7.47%. The firm’s revenue for the quarter was up 16.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.07 earnings per share. Equities analysts forecast that Coupang, Inc. will post 0.17 earnings per share for the current fiscal year.

Insider Activity at Coupang

In other Coupang news, Director Benjamin Sun sold 815,797 shares of Coupang stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of $31.88, for a total transaction of $26,007,608.36. Following the sale, the director directly owned 503,624 shares of the company’s stock, valued at approximately $16,055,533.12. The trade was a 61.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Pedro Franceschi sold 21,428 shares of Coupang stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $32.05, for a total value of $686,767.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 988,983 shares of company stock valued at $31,203,966. Corporate insiders own 12.78% of the company’s stock.

Coupang 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.