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 204.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,352,002 shares of the company's stock after acquiring an additional 2,251,819 shares during the quarter. Assenagon Asset Management S.A. owned about 0.19% of Coupang worth $73,509,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Wingate Wealth Advisors Inc. acquired a new stake in Coupang during the fourth quarter worth $26,000. Itau Unibanco Holding S.A. boosted its stake in Coupang by 520.6% during the fourth quarter. Itau Unibanco Holding S.A. now owns 1,955 shares of the company's stock worth $43,000 after buying an additional 1,640 shares in the last quarter. Allworth Financial LP boosted its stake in Coupang by 11,033.3% during the fourth quarter. Allworth Financial LP now owns 2,004 shares of the company's stock worth $45,000 after buying an additional 1,986 shares in the last quarter. TD Waterhouse Canada Inc. boosted its stake in Coupang by 142.9% during the fourth quarter. TD Waterhouse Canada Inc. now owns 2,429 shares of the company's stock worth $53,000 after buying an additional 1,429 shares in the last quarter. Finally, Signaturefd LLC boosted its stake in Coupang by 34.7% during the fourth quarter. Signaturefd LLC now owns 3,193 shares of the company's stock worth $70,000 after buying an additional 822 shares in the last quarter. Institutional investors own 83.72% of the company's stock.

Insider Buying and Selling at Coupang

In related news, Director Benjamin Sun sold 200,000 shares of Coupang stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $28.36, for a total value of $5,672,000.00. Following the transaction, the director now directly owns 1,319,421 shares of the company's stock, valued at $37,418,779.56. The trade was a 13.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Gaurav Anand sold 175,000 shares of the business's stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $28.11, for a total value of $4,919,250.00. Following the completion of the transaction, the chief financial officer now directly owns 2,092,290 shares in the company, valued at approximately $58,814,271.90. This trade represents a 7.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 30,709,697 shares of company stock worth $791,138,311 over the last 90 days. Insiders own 12.78% of the company's stock.

Coupang Stock Performance

Shares of CPNG traded down $0.21 during midday trading on Friday, reaching $28.10. 7,556,473 shares of the stock were exchanged, compared to its average volume of 8,049,813. Coupang, Inc. has a twelve month low of $18.16 and a twelve month high of $29.12. The company has a quick ratio of 0.86, a current ratio of 1.13 and a debt-to-equity ratio of 0.28. The company has a market cap of $51.02 billion, a P/E ratio of 49.30, a PEG ratio of 52.20 and a beta of 1.15. The stock's 50 day simple moving average is $25.26 and its 200 day simple moving average is $23.88.

Coupang (NYSE:CPNG - Get Free Report) last posted 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). The company had revenue of $7.91 billion during the quarter, compared to analyst estimates of $8.02 billion. Coupang had a net margin of 3.57% and a return on equity of 11.52%. The firm's revenue was up 11.2% compared to the same quarter last year. On average, sell-side analysts expect that Coupang, Inc. will post 0.17 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CPNG. Mizuho raised shares of Coupang to a "hold" rating in a report on Friday, April 18th. Barclays upped 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. Finally, Deutsche Bank Aktiengesellschaft raised shares of Coupang from a "hold" rating to a "buy" rating and set a $28.50 target price on the stock in a report on Wednesday, February 26th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $29.64.

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.