Coupang, Inc. $CPNG Stock Acquired by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. increased its stake in shares of Coupang, Inc. (NYSE:CPNG) by 112.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 28,102,139 shares of the company’s stock after purchasing an additional 14,865,737 shares during the period. Assenagon Asset Management S.A.’s holdings in Coupang were worth $389,777,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. NewEdge Wealth LLC lifted its stake in Coupang by 5.2% in the first quarter. NewEdge Wealth LLC now owns 16,917 shares of the company’s stock valued at $319,000 after buying an additional 840 shares during the period. Root Financial Partners LLC boosted its holdings in Coupang by 68.5% during the first quarter. Root Financial Partners LLC now owns 2,265 shares of the company’s stock worth $43,000 after buying an additional 921 shares during the last quarter. Reflection Asset Management bought a new position in Coupang during the fourth quarter worth about $28,000. Resonant Capital Advisors LLC boosted its holdings in Coupang by 10.5% during the first quarter. Resonant Capital Advisors LLC now owns 13,449 shares of the company’s stock worth $254,000 after buying an additional 1,280 shares during the last quarter. Finally, Webster Bank N. A. grew its position in shares of Coupang by 325.8% during the 1st quarter. Webster Bank N. A. now owns 1,699 shares of the company’s stock worth $32,000 after buying an additional 1,300 shares during the period. Institutional investors own 83.72% of the company’s stock.

Insider Activity

In other Coupang news, insider Harold Rogers sold 192,110 shares of the business’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $16.18, for a total value of $3,108,339.80. Following the completion of the transaction, the insider directly owned 740,931 shares of the company’s stock, valued at approximately $11,988,263.58. The trade was a 20.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Jonathan D. Lee sold 5,519 shares of the stock in a transaction dated Friday, October 2nd. The stock was sold at an average price of $13.65, for a total value of $75,334.35. Following the completion of the sale, the chief accounting officer owned 176,396 shares of the company’s stock, valued at $2,407,805.40. This trade represents a 3.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 203,148 shares of company stock worth $3,272,530. Corporate insiders own 12.83% of the company’s stock.

Coupang Trading Up 2.7%

Shares of NYSE CPNG opened at $14.79 on Friday. Coupang, Inc. has a twelve month low of $13.35 and a twelve month high of $32.35. The stock has a market cap of $26.59 billion, a price-to-earnings ratio of -34.40 and a beta of 1.17. The company has a quick ratio of 0.68, a current ratio of 0.87 and a debt-to-equity ratio of 0.21. The company’s fifty day moving average is $15.23 and its 200-day moving average is $16.84.

Coupang (NYSE:CPNG) last released its quarterly earnings data on Tuesday, August 4th. The company reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.18. Coupang had a negative net margin of 2.16% and a negative return on equity of 8.77%. The business had revenue of $8.86 billion during the quarter, compared to analysts’ expectations of $8.92 billion. During the same quarter in the prior year, the company earned $0.02 EPS. The firm’s quarterly revenue was up 3.9% on a year-over-year basis. Equities research analysts predict that Coupang, Inc. will post -0.47 EPS for the current year.

Analysts Set New Price Targets

CPNG has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft upgraded Coupang from a “hold” rating to a “buy” rating and decreased their target price for the stock from $23.00 to $21.50 in a research report on Wednesday, August 5th. Weiss Ratings reiterated a “sell (d)” rating on shares of Coupang in a research report on Tuesday, August 4th. Bank of America cut their price target on shares of Coupang from $27.00 to $24.00 and set a “buy” rating on the stock in a research report on Wednesday, August 5th. Mizuho set a $22.00 price objective on shares of Coupang in a research note on Wednesday, August 5th. Finally, The Goldman Sachs Group set a $31.00 price objective on shares of Coupang in a research note on Thursday, July 9th. Five equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Coupang currently has a consensus rating of “Hold” and a consensus price target of $24.06.

Coupang Company Profile

Coupang, Inc is an e-commerce and technology company that operates primarily in South Korea and Taiwan. The company connects consumers with a broad selection of merchandise, including groceries, household goods, electronics, apparel, beauty products and other everyday items. Its services are supported by an integrated logistics network designed to provide fast delivery and a convenient online shopping experience.

Coupang’s offerings include its Rocket Delivery and Rocket Fresh services, which provide rapid delivery of general merchandise and groceries, respectively.