Assenagon Asset Management S.A. Decreases Holdings in Coupang, Inc. $CPNG

Assenagon Asset Management S.A. trimmed its holdings in Coupang, Inc. (NYSE:CPNG) by 22.7% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,236,402 shares of the company’s stock after selling 3,881,181 shares during the period. Assenagon Asset Management S.A.’s holdings in Coupang were worth $229,916,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in Coupang by 3.3% in the fourth quarter. Vanguard Group Inc. now owns 29,547,637 shares of the company’s stock valued at $697,029,000 after buying an additional 951,812 shares during the last quarter. Ethic Inc. increased its position in shares of Coupang by 383.2% during the fourth quarter. Ethic Inc. now owns 126,154 shares of the company’s stock valued at $2,976,000 after acquiring an additional 100,047 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Coupang by 7.5% in the 4th quarter. Geode Capital Management LLC now owns 24,327,724 shares of the company’s stock valued at $574,068,000 after acquiring an additional 1,689,293 shares during the period. M&T Bank Corp raised its stake in shares of Coupang by 22.7% in the 4th quarter. M&T Bank Corp now owns 318,971 shares of the company’s stock valued at $7,525,000 after acquiring an additional 59,013 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its holdings in shares of Coupang by 8.2% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 12,132,629 shares of the company’s stock worth $286,209,000 after acquiring an additional 917,487 shares during the last quarter. 83.72% of the stock is owned by hedge funds and other institutional investors.

Coupang Stock Performance

NYSE:CPNG opened at $16.30 on Friday. Coupang, Inc. has a 12 month low of $14.92 and a 12 month high of $34.08. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.87 and a quick ratio of 0.76. The firm has a market capitalization of $29.25 billion, a PE ratio of -37.90 and a beta of 1.13. The business’s fifty day moving average price is $17.02 and its 200 day moving average price is $18.16.

Coupang (NYSE:CPNG) last announced its quarterly earnings results on Tuesday, May 5th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.06). Coupang had a negative return on equity of 8.77% and a negative net margin of 2.16%.The business had revenue of $8.50 billion for the quarter, compared to analysts’ expectations of $8.48 billion. During the same period last year, the firm earned $0.06 earnings per share. The firm’s quarterly revenue was up 7.5% on a year-over-year basis. On average, sell-side analysts anticipate that Coupang, Inc. will post -0.33 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Barclays reaffirmed an “overweight” rating and set a $29.00 price objective on shares of Coupang in a research report on Tuesday, July 7th. Deutsche Bank Aktiengesellschaft raised shares of Coupang from a “hold” rating to a “buy” rating and reduced their price target for the stock from $23.00 to $21.50 in a research report on Wednesday. Citigroup cut shares of Coupang from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $23.00 to $22.20 in a report on Wednesday, May 6th. The Goldman Sachs Group set a $31.00 target price on Coupang in a report on Thursday, July 9th. Finally, Bank of America lowered their target price on Coupang from $27.00 to $24.00 and set a “buy” rating for the company in a research note on Wednesday. Six analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $25.39.

About Coupang

Coupang, listed on the New York Stock Exchange under the ticker CPNG, is a South Korean e-commerce company headquartered in Seoul. Founded in 2010 by Bom Kim, the company grew rapidly by combining an online marketplace with a large direct-retail business model. Coupang completed a primary listing in the United States in 2021, and it has become one of South Korea’s leading online retailers by focusing on convenience, speed and a wide product assortment across consumer categories.

The company operates a vertically integrated e-commerce platform that includes a customer-facing marketplace and an extensive logistics and fulfillment network.