Allianz Asset Management GmbH Makes New $707,000 Investment in Coupang, Inc. (NYSE:CPNG)

Key Points

• Allianz Asset Management GmbH acquired 32,248 shares of Coupang, Inc. (NYSE:CPNG) valued at approximately $707,000 during the first quarter.
• Several institutional investors, including Davidson Kahn Capital Management LLC and Allspring Global Investments Holdings LLC, significantly increased their stakes in Coupang in the same quarter.
• Analysts have mixed sentiments on Coupang, with Barclays raising the target price to $36.00 while Wall Street Zen downgraded it to a "hold," reflecting a consensus rating of "Moderate Buy."

Allianz Asset Management GmbH bought a new stake in Coupang, Inc. (NYSE:CPNG - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 32,248 shares of the company's stock, valued at approximately $707,000.

Other large investors have also recently bought and sold shares of the company. Csenge Advisory Group boosted its holdings in shares of Coupang by 61.6% in the first quarter. Csenge Advisory Group now owns 15,128 shares of the company's stock valued at $324,000 after buying an additional 5,765 shares during the period. Private Advisor Group LLC boosted its holdings in shares of Coupang by 156.5% in the first quarter. Private Advisor Group LLC now owns 209,181 shares of the company's stock valued at $4,587,000 after buying an additional 127,630 shares during the period. Forum Financial Management LP acquired a new position in shares of Coupang in the first quarter valued at approximately $271,000. Allen Capital Group LLC boosted its holdings in shares of Coupang by 9.3% in the first quarter. Allen Capital Group LLC now owns 19,583 shares of the company's stock valued at $429,000 after buying an additional 1,660 shares during the period. Finally, Victory Capital Management Inc. boosted its holdings in shares of Coupang by 7.4% in the first quarter. Victory Capital Management Inc. now owns 96,433 shares of the company's stock valued at $2,115,000 after buying an additional 6,646 shares during the period. Institutional investors own 83.72% of the company's stock.

Coupang Stock Performance

Shares of CPNG traded up $0.87 during trading hours on Monday, hitting $29.61. The company had a trading volume of 9,949,115 shares, compared to its average volume of 9,453,162. The firm has a market cap of $53.76 billion, a price-to-earnings ratio of 211.50 and a beta of 1.16. The business has a fifty day moving average of $29.39 and a 200-day moving average of $25.56. Coupang, Inc. has a 12 month low of $18.16 and a 12 month high of $31.65. The company has a quick ratio of 0.90, a current ratio of 1.16 and a debt-to-equity ratio of 0.23.

Coupang (NYSE:CPNG - Get Free Report) last released its quarterly 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). Coupang had a return on equity of 10.07% and a net margin of 0.82%. The business had revenue of $7.91 billion for the quarter, compared to the consensus estimate of $8.02 billion. The firm's revenue for the quarter was up 11.2% compared to the same quarter last year. Equities analysts anticipate that Coupang, Inc. will post 0.17 EPS for the current fiscal year.

Insider Activity

In other Coupang news, major shareholder Svf Investments (Uk) Ltd sold 10,000,000 shares of the stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $28.25, for a total transaction of $282,500,000.00. Following the sale, the insider directly owned 309,542,259 shares in the company, valued at $8,744,568,816.75. This represents a 3.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Benjamin Sun sold 200,000 shares of the stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $28.36, for a total transaction of $5,672,000.00. Following the sale, the director owned 1,319,421 shares in the company, valued at $37,418,779.56. The trade was a 13.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 40,462,003 shares of company stock valued at $1,067,897,453. Company insiders own 12.78% of the company's stock.

Analysts Set New Price Targets

CPNG has been the subject of several research analyst reports. Mizuho upgraded shares of Coupang to a "hold" rating in a report on Friday, April 18th. Wall Street Zen cut shares of Coupang from a "buy" rating to a "hold" rating in a report on Sunday, July 20th. Finally, Barclays increased their target price on shares of Coupang from $35.00 to $36.00 and gave the stock an "overweight" rating in a report on Thursday, May 8th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $30.08.

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.