Assenagon Asset Management S.A. Sells 1,554,643 Shares of Coupang, Inc. $CPNG

Assenagon Asset Management S.A. lowered its stake in shares of Coupang, Inc. (NYSE:CPNG) by 41.7% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 2,170,352 shares of the company’s stock after selling 1,554,643 shares during the period. Assenagon Asset Management S.A. owned approximately 0.12% of Coupang worth $69,885,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Coupang by 6.9% during the first quarter. Vanguard Group Inc. now owns 5,739,018 shares of the company’s stock valued at $125,857,000 after purchasing an additional 372,804 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Coupang by 25.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,146,841 shares of the company’s stock worth $25,150,000 after purchasing an additional 233,052 shares during the period. Deutsche Bank AG raised its stake in Coupang by 19.7% during the 1st quarter. Deutsche Bank AG now owns 108,748 shares of the company’s stock valued at $2,385,000 after buying an additional 17,915 shares during the last quarter. Aberdeen Group plc raised its stake in Coupang by 194.1% during the 1st quarter. Aberdeen Group plc now owns 541,772 shares of the company’s stock valued at $11,881,000 after buying an additional 357,534 shares during the last quarter. Finally, Cresset Asset Management LLC lifted its holdings in shares of Coupang by 60.5% during the 1st quarter. Cresset Asset Management LLC now owns 25,439 shares of the company’s stock valued at $558,000 after buying an additional 9,589 shares during the period. Hedge funds and other institutional investors own 83.72% of the company’s stock.

Coupang Stock Performance

Shares of NYSE CPNG opened at $22.72 on Thursday. The stock has a market cap of $41.50 billion, a PE ratio of 108.19 and a beta of 1.18. Coupang, Inc. has a 1 year low of $19.02 and a 1 year high of $34.08. The firm has a fifty day moving average price of $28.89 and a 200-day moving average price of $29.62. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.06 and a quick ratio of 0.82.

Coupang (NYSE:CPNG) last issued its earnings results on Tuesday, November 4th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.01. Coupang had a net margin of 1.16% and a return on equity of 6.95%. The company had revenue of $9.27 billion during the quarter, compared to the consensus estimate of $9.13 billion. During the same quarter in the prior year, the firm posted $0.06 EPS. Coupang’s quarterly revenue was up 17.8% compared to the same quarter last year. Equities analysts anticipate that Coupang, Inc. will post 0.17 earnings per share for the current fiscal year.

Insider Activity at Coupang

In other news, VP Pranam Kolari sold 11,653 shares of the company’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $31.98, for a total value of $372,662.94. Following the completion of the transaction, the vice president owned 147,023 shares of the company’s stock, valued at $4,701,795.54. This represents a 7.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 12.78% of the stock is owned by insiders.

Analyst Ratings Changes

CPNG has been the subject of several research analyst reports. Morgan Stanley reaffirmed an “overweight” rating and issued a $31.00 price objective on shares of Coupang in a report on Sunday. Weiss Ratings restated a “hold (c)” rating on shares of Coupang in a research note on Wednesday, October 8th. Arete Research assumed coverage on shares of Coupang in a research report on Thursday, September 18th. They set a “buy” rating and a $40.00 price target for the company. Bank of America increased their price objective on shares of Coupang from $36.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, November 5th. Finally, Barclays boosted their target price on shares of Coupang from $36.00 to $40.00 and gave the company an “overweight” rating in a research report on Tuesday, November 11th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $33.25.

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.