Allianz Asset Management GmbH Increases Stock Holdings in Coupang, Inc. $CPNG

Allianz Asset Management GmbH increased its holdings in Coupang, Inc. (NYSE:CPNG) by 60.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 51,675 shares of the company’s stock after purchasing an additional 19,427 shares during the period. Allianz Asset Management GmbH’s holdings in Coupang were worth $1,548,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Albion Financial Group UT acquired a new position in shares of Coupang during the second quarter worth about $30,000. SVB Wealth LLC acquired a new stake in Coupang during the first quarter valued at approximately $28,000. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in Coupang during the first quarter valued at approximately $30,000. Brooklyn Investment Group raised its stake in Coupang by 43.1% during the first quarter. Brooklyn Investment Group now owns 1,680 shares of the company’s stock valued at $37,000 after buying an additional 506 shares in the last quarter. Finally, Ameritas Advisory Services LLC acquired a new stake in Coupang during the second quarter valued at approximately $58,000. Hedge funds and other institutional investors own 83.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on CPNG shares. Arete Research started coverage on Coupang in a report on Thursday, September 18th. They set a “buy” rating and a $40.00 target price for the company. Zacks Research lowered Coupang from a “hold” rating to a “strong sell” rating in a report on Monday, October 6th. Arete began coverage on Coupang in a report on Thursday, September 18th. They issued a “buy” rating and a $40.00 price objective for the company. Wall Street Zen downgraded Coupang from a “buy” rating to a “hold” rating in a research report on Sunday, July 20th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Coupang in a research report on Friday. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $33.50.

Insider Transactions at Coupang

In related news, VP Pranam Kolari sold 11,653 shares of Coupang stock in a transaction on Monday, August 4th. The shares were sold at an average price of $29.14, for a total value of $339,568.42. Following the transaction, the vice president owned 158,676 shares in the company, valued at $4,623,818.64. This trade represents a 6.84% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Benjamin Sun sold 815,797 shares of the firm’s stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $31.88, for a total transaction of $26,007,608.36. Following the completion of the sale, the director owned 503,624 shares in the company, valued at $16,055,533.12. This represents a 61.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 988,983 shares of company stock worth $31,203,966. Corporate insiders own 12.78% of the company’s stock.

Coupang Stock Up 0.1%

CPNG stock opened at $31.20 on Friday. Coupang, Inc. has a 12-month low of $19.02 and a 12-month high of $34.08. The company has a quick ratio of 0.84, a current ratio of 1.09 and a debt-to-equity ratio of 0.18. The company has a market cap of $56.87 billion, a price-to-earnings ratio of 155.98 and a beta of 1.18. The company has a 50 day moving average of $31.10 and a two-hundred day moving average of $28.67.

Coupang (NYSE:CPNG) last released its earnings results on Tuesday, August 5th. The company reported $0.02 earnings per share (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 analysts’ expectations of $8.34 billion. Coupang had a return on equity of 7.47% and a net margin of 1.13%.The firm’s quarterly revenue was up 16.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.07 EPS. On average, equities analysts anticipate that Coupang, Inc. will post 0.17 earnings per share for the current fiscal year.

Coupang Company 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.