Mirae Asset Global Investments Co. Ltd. Has $24.23 Million Stock Holdings in Coupang, Inc. (NYSE:CPNG)

Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Coupang, Inc. (NYSE:CPNG - Free Report) by 87.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,105,083 shares of the company's stock after buying an additional 514,062 shares during the period. Mirae Asset Global Investments Co. Ltd. owned 0.06% of Coupang worth $24,234,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CPNG. Grove Bank & Trust bought a new stake in Coupang during the 1st quarter worth approximately $33,000. Itau Unibanco Holding S.A. raised its holdings in shares of 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 acquiring an additional 1,640 shares during the period. TD Waterhouse Canada Inc. boosted its stake in Coupang by 142.9% in the 4th quarter. TD Waterhouse Canada Inc. now owns 2,429 shares of the company's stock worth $53,000 after purchasing an additional 1,429 shares during the period. Signaturefd LLC increased its holdings in Coupang by 34.7% during the 4th quarter. Signaturefd LLC now owns 3,193 shares of the company's stock worth $70,000 after purchasing an additional 822 shares in the last quarter. Finally, Asset Management One Co. Ltd. raised its stake in shares of Coupang by 23.3% in the 1st quarter. Asset Management One Co. Ltd. now owns 3,211 shares of the company's stock valued at $70,000 after purchasing an additional 606 shares during the period. 83.72% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently commented on CPNG. Mizuho upgraded shares of Coupang to a "hold" rating in a report on Friday, April 18th. Barclays raised their price objective on Coupang from $35.00 to $36.00 and gave the company an "overweight" rating in a report on Thursday, May 8th. Finally, Wall Street Zen cut Coupang from a "buy" rating to a "hold" rating in a research report on Sunday. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $30.08.

Coupang Stock Performance

Shares of CPNG traded down $0.58 during mid-day trading on Monday, reaching $30.23. The company's stock had a trading volume of 3,440,815 shares, compared to its average volume of 8,187,439. The company has a current ratio of 1.16, a quick ratio of 0.90 and a debt-to-equity ratio of 0.23. Coupang, Inc. has a 1-year low of $18.16 and a 1-year high of $31.13. The business has a 50-day simple moving average of $26.77 and a two-hundred day simple moving average of $24.20. The stock has a market cap of $54.89 billion, a P/E ratio of 215.39 and a beta of 1.15.

Coupang (NYSE:CPNG - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.01). Coupang had a net margin of 0.82% and a return on equity of 10.07%. The business had revenue of $7.91 billion for the quarter, compared to analyst estimates of $8.02 billion. The firm's revenue for the quarter was up 11.2% on a year-over-year basis. As a group, equities research analysts anticipate that Coupang, Inc. will post 0.17 earnings per share for the current fiscal year.

Insider Transactions at Coupang

In other Coupang news, major shareholder Svf Investments (Uk) Ltd sold 10,000,000 shares of the company's stock in a transaction on Friday, June 13th. The stock was sold at an average price of $28.25, for a total value of $282,500,000.00. Following the transaction, the insider now directly owns 309,542,259 shares of the company's stock, valued at $8,744,568,816.75. This represents a 3.13% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Pranam Kolari sold 9,347 shares of the company's stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $23.85, for a total transaction of $222,925.95. Following the completion of the transaction, the vice president now owns 177,106 shares in the company, valued at $4,223,978.10. This trade represents a 5.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 40,459,697 shares of company stock worth $1,067,780,811. 12.78% of the stock is owned by insiders.

About Coupang

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.