Coupang, Inc. $CPNG Stock Holdings Trimmed by Mirae Asset Global Investments Co. Ltd.

Key Points

• Mirae Asset Global Investments Co. Ltd. has significantly reduced its stake in Coupang, Inc. by 97.8%, leaving it with only 24,561 shares valued at approximately $736,000.
• Coupang reported $0.02 EPS for the latest quarter, falling short of analysts' expectations, while its quarterly revenue increased by 16.4% compared to the previous year, totaling $8.52 billion.
• Several analysts have recently updated their ratings for Coupang; notably, Nomura Securities raised its rating to a "strong-buy" with a target price of $40.00.

Mirae Asset Global Investments Co. Ltd. reduced its position in Coupang, Inc. (NYSE:CPNG - Free Report) by 97.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 24,561 shares of the company's stock after selling 1,080,522 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in Coupang were worth $736,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CPNG. SVB Wealth LLC bought a new stake in Coupang in the first quarter valued at about $28,000. Bank Julius Baer & Co. Ltd Zurich bought a new stake in Coupang in the first quarter valued at about $30,000. Albion Financial Group UT bought a new stake in Coupang in the second quarter valued at about $30,000. Grove Bank & Trust bought a new stake in Coupang in the first quarter valued at about $33,000. Finally, Brooklyn Investment Group increased its holdings in Coupang by 43.1% in the first quarter. Brooklyn Investment Group now owns 1,680 shares of the company's stock valued at $37,000 after buying an additional 506 shares during the last quarter. 83.72% of the stock is owned by institutional investors.

Coupang Stock Performance

Shares of CPNG stock opened at $31.26 on Friday. Coupang, Inc. has a 12-month low of $19.02 and a 12-month high of $34.08. The firm has a market capitalization of $56.98 billion, a price-to-earnings ratio of 156.28 and a beta of 1.18. The business has a 50 day simple moving average of $30.49 and a 200 day simple moving average of $27.94. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.09 and a quick ratio of 0.84.

Coupang (NYSE:CPNG - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $0.02 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.07 by ($0.05). The business had revenue of $8.52 billion during the quarter, compared to the consensus estimate of $8.34 billion. Coupang had a return on equity of 7.47% and a net margin of 1.13%.The business's quarterly revenue was up 16.4% compared to the same quarter last year. During the same period last year, the company earned $0.07 earnings per share. On average, equities research analysts anticipate that Coupang, Inc. will post 0.17 EPS for the current year.

Insider Activity at Coupang

In other news, insider Harold Rogers sold 64,755 shares of the stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $32.06, for a total transaction of $2,076,045.30. Following the completion of the sale, the insider owned 449,569 shares in the company, valued at approximately $14,413,182.14. This represents a 12.59% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Gaurav Anand sold 75,350 shares of the stock in a transaction on Monday, August 11th. The shares were sold at an average price of $27.79, for a total value of $2,093,976.50. Following the completion of the sale, the chief financial officer owned 2,016,940 shares of the company's stock, valued at $56,050,762.60. The trade was a 3.60% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 988,983 shares of company stock worth $31,203,966. 12.78% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

CPNG has been the subject of several recent research reports. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Coupang in a report on Wednesday. Nomura Securities raised Coupang to a "strong-buy" rating in a report on Wednesday, August 6th. Arete Research initiated coverage on Coupang in a report on Thursday, September 18th. They set a "buy" rating and a $40.00 target price for the company. Wall Street Zen lowered Coupang from a "buy" rating to a "hold" rating in a report on Sunday, July 20th. Finally, Arete initiated coverage on Coupang in a report on Thursday, September 18th. They set a "buy" rating and a $40.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $33.50.

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.

Want to see what other hedge funds are holding CPNG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Coupang, Inc. (NYSE:CPNG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.