Myriad Asset Management US LP Takes $3.33 Million Position in Coupang, Inc. $CPNG

Key Points

• Myriad Asset Management US LP has invested approximately $3.33 million to acquire 111,000 shares of Coupang, making it the 11th largest position in their investment portfolio.
• As of now, over 83.72% of Coupang's stock is held by hedge funds and institutional investors, reflecting strong interest from major financial players.
• Coupang's shares have a current market capitalization of $61.15 billion, with a price-to-earnings ratio of 167.71, indicating substantial valuation within the market.

Myriad Asset Management US LP purchased a new position in Coupang, Inc. (NYSE:CPNG - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 111,000 shares of the company's stock, valued at approximately $3,326,000. Coupang accounts for about 2.2% of Myriad Asset Management US LP's holdings, making the stock its 11th largest holding.

Several other institutional investors also recently added to or reduced their stakes in the stock. Wealth Enhancement Advisory Services LLC increased its stake in Coupang by 103.9% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 33,705 shares of the company's stock worth $1,021,000 after buying an additional 17,172 shares during the period. Longboard Asset Management LP purchased a new position in Coupang in the 2nd quarter worth about $208,000. Baader Bank Aktiengesellschaft increased its stake in Coupang by 4.3% in the 2nd quarter. Baader Bank Aktiengesellschaft now owns 11,248 shares of the company's stock worth $323,000 after buying an additional 461 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd purchased a new position in Coupang in the 2nd quarter worth about $213,000. Finally, Pallas Capital Advisors LLC purchased a new position in Coupang in the 2nd quarter worth about $447,000. Hedge funds and other institutional investors own 83.72% of the company's stock.

Coupang Stock Performance

CPNG stock traded down $0.52 during trading on Monday, reaching $32.34. The company had a trading volume of 4,089,458 shares, compared to its average volume of 10,427,522. The firm has a 50-day simple moving average of $29.94 and a 200-day simple moving average of $27.02. The company has a market cap of $58.95 billion, a price-to-earnings ratio of 161.83 and a beta of 1.15. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.84 and a current ratio of 1.09. Coupang, Inc. has a twelve month low of $19.02 and a twelve month high of $34.08.

Coupang (NYSE:CPNG - Get Free Report) last released its earnings results on Tuesday, August 5th. The company reported $0.02 EPS for the quarter, missing analysts' consensus estimates of $0.07 by ($0.05). The company had revenue of $8.52 billion during the quarter, compared to analyst estimates of $8.34 billion. Coupang had a return on equity of 7.47% and a net margin of 1.13%.The firm's revenue for the quarter was up 16.4% on a year-over-year basis. During the same quarter last year, the business earned $0.07 earnings per share. As a group, sell-side analysts expect that Coupang, Inc. will post 0.17 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Nomura Securities raised shares of Coupang to a "strong-buy" rating in a research report on Wednesday, August 6th. Arete assumed coverage on shares of Coupang in a research report on Thursday. They set a "buy" rating and a $40.00 target price on the stock. Nomura raised shares of Coupang from a "neutral" rating to a "buy" rating and set a $35.00 target price on the stock in a research report on Wednesday, August 6th. Morgan Stanley raised their target price on shares of Coupang from $32.00 to $35.00 and gave the company an "overweight" rating in a research report on Wednesday, August 20th. Finally, Wall Street Zen downgraded shares of Coupang from a "buy" rating to a "hold" rating in a research report on Sunday, July 20th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $33.11.

Insider Buying and Selling at Coupang

In other Coupang news, Director Pedro Franceschi sold 21,428 shares of Coupang stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $32.05, for a total transaction of $686,767.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Harold Rogers sold 64,755 shares of Coupang stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $32.06, for a total transaction of $2,076,045.30. Following the sale, the insider owned 449,569 shares of the company's stock, valued at approximately $14,413,182.14. The trade was a 12.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 988,983 shares of company stock worth $31,203,966. Corporate insiders own 12.78% of the company's stock.

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.