Coupang, Inc. (NYSE:CPNG) Holdings Lowered by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. cut its stake in Coupang, Inc. (NYSE:CPNG) by 86.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 593,561 shares of the company’s stock after selling 3,931,433 shares during the period. Assenagon Asset Management S.A.’s holdings in Coupang were worth $14,572,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in CPNG. Asset Dedication LLC grew its holdings in Coupang by 438.1% during the third quarter. Asset Dedication LLC now owns 1,216 shares of the company’s stock worth $30,000 after acquiring an additional 990 shares during the period. GAMMA Investing LLC boosted its position in shares of Coupang by 308.2% during the 2nd quarter. GAMMA Investing LLC now owns 1,947 shares of the company’s stock valued at $41,000 after purchasing an additional 1,470 shares in the last quarter. Wolff Wiese Magana LLC grew its stake in shares of Coupang by 330.4% in the 3rd quarter. Wolff Wiese Magana LLC now owns 1,687 shares of the company’s stock worth $41,000 after purchasing an additional 1,295 shares during the last quarter. Register Financial Advisors LLC bought a new stake in shares of Coupang in the 1st quarter worth approximately $50,000. Finally, Signaturefd LLC lifted its stake in Coupang by 438.9% during the third quarter. Signaturefd LLC now owns 2,371 shares of the company’s stock valued at $58,000 after purchasing an additional 1,931 shares during the last quarter. 83.72% of the stock is currently owned by institutional investors.

Insider Transactions at Coupang

In other news, Director Greenoaks Capital Partners Llc acquired 100,000 shares of Coupang stock in a transaction that occurred on Wednesday, August 21st. The stock was purchased at an average price of $22.95 per share, with a total value of $2,295,000.00. Following the completion of the transaction, the director now owns 50,476,224 shares in the company, valued at approximately $1,158,429,340.80. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, CFO Gaurav Anand sold 200,000 shares of the stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $22.75, for a total transaction of $4,550,000.00. Following the transaction, the chief financial officer now owns 1,937,500 shares in the company, valued at $44,078,125. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Greenoaks Capital Partners Llc acquired 100,000 shares of Coupang stock in a transaction that occurred on Wednesday, August 21st. The stock was acquired at an average cost of $22.95 per share, with a total value of $2,295,000.00. Following the purchase, the director now owns 50,476,224 shares in the company, valued at $1,158,429,340.80. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 601,300 shares of company stock valued at $13,604,354 and have sold 411,388 shares valued at $9,452,761. 13.60% of the stock is currently owned by company insiders.

Coupang Price Performance

Shares of CPNG opened at $25.67 on Friday. The business’s 50-day moving average is $24.10 and its 200-day moving average is $22.55. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.12 and a quick ratio of 0.87. The company has a market capitalization of $45.90 billion, a price-to-earnings ratio of 36.67, a P/E/G ratio of 282.07 and a beta of 1.11. Coupang, Inc. has a fifty-two week low of $13.51 and a fifty-two week high of $26.28.

Coupang (NYSE:CPNG) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.07 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.08. The firm had revenue of $7.32 billion for the quarter, compared to analyst estimates of $7.39 billion. Coupang had a net margin of 3.87% and a return on equity of 12.04%. The company’s revenue for the quarter was up 25.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.08 EPS. Equities research analysts expect that Coupang, Inc. will post 0.09 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Sanford C. Bernstein raised Coupang from an “underperform” rating to an “outperform” rating and set a $30.00 price target on the stock in a report on Monday, October 7th. CLSA raised Coupang from a “hold” rating to an “outperform” rating and upped their target price for the company from $18.00 to $31.00 in a report on Wednesday, September 4th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, Coupang currently has an average rating of “Moderate Buy” and an average price target 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.