Assenagon Asset Management S.A. Sells 3,931,433 Shares of Coupang, Inc. (NYSE:CPNG)

Assenagon Asset Management S.A. decreased its position in Coupang, Inc. (NYSE:CPNG) by 86.9% during the third quarter, HoldingsChannel reports. The firm owned 593,561 shares of the company’s stock after selling 3,931,433 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Coupang were worth $14,572,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Bleakley Financial Group LLC raised its holdings in Coupang by 17.9% in the 1st quarter. Bleakley Financial Group LLC now owns 17,880 shares of the company’s stock worth $318,000 after acquiring an additional 2,710 shares during the period. Handelsbanken Fonder AB boosted its stake in Coupang by 2.9% during the 3rd quarter. Handelsbanken Fonder AB now owns 884,144 shares of the company’s stock valued at $21,706,000 after purchasing an additional 24,553 shares during the period. Mitsubishi UFJ Trust & Banking Corp grew its holdings in Coupang by 5.2% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,237,250 shares of the company’s stock valued at $39,801,000 after buying an additional 110,700 shares during the last quarter. GSA Capital Partners LLP increased its position in Coupang by 767.9% in the 1st quarter. GSA Capital Partners LLP now owns 108,990 shares of the company’s stock worth $1,939,000 after buying an additional 96,432 shares during the period. Finally, Sei Investments Co. lifted its holdings in shares of Coupang by 68.8% during the first quarter. Sei Investments Co. now owns 1,145,853 shares of the company’s stock worth $20,385,000 after buying an additional 467,037 shares during the last quarter. 83.72% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Coupang news, insider Pranam Kolari sold 10,432 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $19.90, for a total value of $207,596.80. Following the transaction, the insider now directly owns 170,356 shares in the company, valued at $3,390,084.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Pranam Kolari sold 10,432 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $19.90, for a total transaction of $207,596.80. Following the completion of the sale, the insider now directly owns 170,356 shares of the company’s stock, valued at $3,390,084.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Greenoaks Capital Partners Llc acquired 150,000 shares of Coupang stock in a transaction on Friday, August 9th. The stock was acquired at an average cost of $22.64 per share, for a total transaction of $3,396,000.00. Following the purchase, the director now owns 49,874,924 shares of the company’s stock, valued at approximately $1,129,168,279.36. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 601,300 shares of company stock worth $13,604,354 and sold 411,388 shares worth $9,452,761. Corporate insiders own 13.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CPNG. CLSA raised shares of Coupang from a “hold” rating to an “outperform” rating and boosted their target price for the stock from $18.00 to $31.00 in a research report on Wednesday, September 4th. Sanford C. Bernstein upgraded shares of Coupang from an “underperform” rating to an “outperform” rating and set a $30.00 price objective on the stock in a report on Monday, October 7th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, Coupang presently has a consensus rating of “Moderate Buy” and a consensus target price of $27.56.

Coupang Stock Performance

NYSE:CPNG opened at $25.67 on Friday. The firm has a market capitalization of $45.90 billion, a PE ratio of 36.67, a price-to-earnings-growth ratio of 282.07 and a beta of 1.11. The company has a quick ratio of 0.87, a current ratio of 1.12 and a debt-to-equity ratio of 0.72. Coupang, Inc. has a 12-month low of $13.51 and a 12-month high of $26.28. The firm has a 50-day moving average price of $24.10 and a 200 day moving average price of $22.55.

Coupang (NYSE:CPNG) last issued its earnings results on Tuesday, August 6th. The company reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.08. The business had revenue of $7.32 billion during the quarter, compared to analysts’ expectations of $7.39 billion. Coupang had a return on equity of 12.04% and a net margin of 3.87%. Coupang’s quarterly revenue was up 25.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.08 EPS. Research analysts anticipate that Coupang, Inc. will post 0.09 earnings per share for the current fiscal year.

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.