Assenagon Asset Management S.A. Acquires 1,615,448 Shares of Coupang, Inc. (NYSE:CPNG)

Assenagon Asset Management S.A. boosted its holdings in shares of Coupang, Inc. (NYSE:CPNG) by 55.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,524,994 shares of the company’s stock after acquiring an additional 1,615,448 shares during the quarter. Assenagon Asset Management S.A. owned 0.25% of Coupang worth $94,799,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Cigna Investments Inc. New acquired a new position in shares of Coupang during the second quarter worth $202,000. Baader Bank Aktiengesellschaft lifted its holdings in Coupang by 5.7% during the 2nd quarter. Baader Bank Aktiengesellschaft now owns 10,567 shares of the company’s stock worth $219,000 after buying an additional 567 shares during the period. Envestnet Portfolio Solutions Inc. bought a new stake in shares of Coupang in the 2nd quarter valued at about $1,130,000. V Square Quantitative Management LLC acquired a new stake in shares of Coupang in the second quarter valued at about $89,000. Finally, Friedenthal Financial bought a new position in shares of Coupang during the second quarter worth about $772,000. 83.72% of the stock is currently owned by institutional investors and hedge funds.

Coupang Stock Up 0.2 %

NYSE:CPNG traded up $0.05 during trading hours on Friday, reaching $22.45. The company had a trading volume of 7,596,478 shares, compared to its average volume of 10,813,128. Coupang, Inc. has a twelve month low of $13.51 and a twelve month high of $23.77. The company has a quick ratio of 0.89, a current ratio of 1.15 and a debt-to-equity ratio of 0.67. The firm has a market cap of $40.14 billion, a price-to-earnings ratio of 32.07, a P/E/G ratio of 2,041.58 and a beta of 1.09. The business’s 50-day simple moving average is $21.19 and its two-hundred day simple moving average is $20.06.

Coupang (NYSE:CPNG) last issued its earnings results on Tuesday, August 6th. The company reported $0.07 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.08. Coupang had a return on equity of 13.59% and a net margin of 4.96%. The company had revenue of $7.32 billion during the quarter, compared to the consensus estimate of $7.39 billion. During the same period last year, the business posted $0.08 EPS. The firm’s revenue for the quarter was up 25.4% compared to the same quarter last year. On average, equities analysts expect that Coupang, Inc. will post 0.01 earnings per share for the current year.

Insider Activity

In other Coupang news, Director Benjamin Sun sold 700,000 shares of the company’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $20.63, for a total transaction of $14,441,000.00. Following the transaction, the director now owns 2,169,421 shares in the company, valued at $44,755,155.23. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Coupang news, Director Benjamin Sun sold 700,000 shares of Coupang stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $20.63, for a total transaction of $14,441,000.00. Following the completion of the transaction, the director now owns 2,169,421 shares in the company, valued at approximately $44,755,155.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Pranam Kolari sold 6,490 shares of the stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $22.93, for a total value of $148,815.70. Following the completion of the sale, the insider now directly owns 181,461 shares of the company’s stock, valued at $4,160,900.73. The disclosure for this sale can be found here. Over the last quarter, insiders bought 501,300 shares of company stock worth $11,309,354 and sold 956,922 shares worth $20,267,413. Corporate insiders own 13.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on CPNG shares. Citigroup upped their target price on Coupang from $26.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, May 8th. UBS Group raised shares of Coupang from a “neutral” rating to a “buy” rating and upped their price objective for the company from $18.50 to $26.00 in a research note on Thursday, May 16th. Bank of America assumed coverage on shares of Coupang in a research note on Friday, May 3rd. They set a “buy” rating and a $30.00 target price for the company. Barclays upped their price target on shares of Coupang from $25.00 to $32.00 and gave the company an “overweight” rating in a research report on Thursday, May 9th. Finally, Morgan Stanley increased their price target on Coupang from $26.00 to $27.00 and gave the stock an “overweight” rating in a report on Wednesday, June 26th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $26.71.

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.