Assenagon Asset Management S.A. Boosts Position in Coupang, Inc. (NYSE:CPNG)

Assenagon Asset Management S.A. increased its stake in shares of Coupang, Inc. (NYSE:CPNG - Free Report) by 85.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,100,183 shares of the company's stock after purchasing an additional 506,622 shares during the period. Assenagon Asset Management S.A. owned 0.06% of Coupang worth $24,182,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CPNG. Handelsbanken Fonder AB boosted its position in Coupang by 2.9% during the third quarter. Handelsbanken Fonder AB now owns 884,144 shares of the company's stock worth $21,706,000 after acquiring an additional 24,553 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Coupang by 22.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 759,286 shares of the company's stock worth $18,640,000 after purchasing an additional 138,416 shares in the last quarter. abrdn plc boosted its holdings in shares of Coupang by 40.2% during the 3rd quarter. abrdn plc now owns 202,359 shares of the company's stock worth $4,968,000 after purchasing an additional 58,060 shares during the last quarter. Plotkin Financial Advisors LLC acquired a new position in shares of Coupang during the 3rd quarter worth approximately $491,000. Finally, Coronation Fund Managers Ltd. grew its position in shares of Coupang by 139.1% in the third quarter. Coronation Fund Managers Ltd. now owns 4,817,030 shares of the company's stock valued at $118,258,000 after purchasing an additional 2,802,325 shares in the last quarter. 83.72% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Coupang

In other news, CEO Bom Kim sold 15,000,000 shares of the firm's stock in a transaction that occurred on Monday, November 11th. The shares were 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 owns 2,000,000 shares of the company's stock, valued at approximately $45,940,000. This trade represents a 88.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Greenoaks Capital Partners Llc bought 687,700 shares of the business's stock in a transaction that occurred on Monday, November 11th. The shares were acquired at an average cost of $24.08 per share, for a total transaction of $16,559,816.00. Following the completion of the purchase, the director now owns 52,726,423 shares in the company, valued at $1,269,652,265.84. This trade represents a 1.32 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 13.60% of the company's stock.

Coupang Trading Down 1.1 %

CPNG stock traded down $0.24 during mid-day trading on Friday, hitting $22.09. 5,495,026 shares of the company were exchanged, compared to its average volume of 6,296,554. Coupang, Inc. has a 12-month low of $13.51 and a 12-month high of $26.91. The firm has a market capitalization of $39.73 billion, a P/E ratio of 38.75, a PEG ratio of 34.64 and a beta of 1.10. The business has a fifty day simple moving average of $23.50 and a 200-day simple moving average of $23.27. 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 - Get Free Report) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $0.06 earnings per share for the quarter, topping analysts' consensus estimates of $0.01 by $0.05. Coupang had a net margin of 3.57% and a return on equity of 11.52%. The firm had revenue of $7.87 billion during the quarter, compared to analysts' expectations of $7.76 billion. During the same quarter last year, the company posted $0.05 EPS. The firm's quarterly revenue was up 27.2% on a year-over-year basis. On average, equities research analysts predict that Coupang, Inc. will post 0.11 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Citigroup cut their target price on Coupang from $31.00 to $28.00 and set a "buy" rating for the company in a research note on Wednesday, January 8th. Sanford C. Bernstein upgraded shares of Coupang from an "underperform" rating to an "outperform" rating and set a $30.00 price objective for the company in a research report on Monday, October 7th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average 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.