Assenagon Asset Management S.A. Sells 1,024,711 Shares of Coupang, Inc. $CPNG

Assenagon Asset Management S.A. decreased its position in Coupang, Inc. (NYSE:CPNG) by 47.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,145,641 shares of the company’s stock after selling 1,024,711 shares during the period. Assenagon Asset Management S.A. owned approximately 0.06% of Coupang worth $27,026,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Dodge & Cox grew its stake in Coupang by 0.7% in the third quarter. Dodge & Cox now owns 46,947,720 shares of the company’s stock valued at $1,511,717,000 after acquiring an additional 333,200 shares during the period. Capital International Investors raised its position in shares of Coupang by 7.6% during the third quarter. Capital International Investors now owns 34,153,094 shares of the company’s stock worth $1,099,792,000 after purchasing an additional 2,421,089 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Coupang by 343.5% during the 3rd quarter. Vanguard Group Inc. now owns 28,595,825 shares of the company’s stock valued at $920,786,000 after purchasing an additional 22,147,432 shares in the last quarter. Durable Capital Partners LP lifted its holdings in shares of Coupang by 0.4% during the 3rd quarter. Durable Capital Partners LP now owns 24,833,189 shares of the company’s stock valued at $799,629,000 after purchasing an additional 89,207 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Coupang in the 2nd quarter valued at approximately $587,186,000. Institutional investors own 83.72% of the company’s stock.

Insider Buying and Selling at Coupang

In other Coupang news, CAO Jonathan D. Lee sold 2,679 shares of the business’s stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $23.62, for a total transaction of $63,277.98. Following the sale, the chief accounting officer directly owned 122,096 shares of the company’s stock, valued at $2,883,907.52. The trade was a 2.15% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Neil Mehta acquired 3,000,000 shares of Coupang stock in a transaction dated Thursday, March 12th. The shares were acquired at an average price of $18.68 per share, with a total value of $56,040,000.00. Following the completion of the purchase, the director owned 52,978,114 shares in the company, valued at approximately $989,631,169.52. The trade was a 6.00% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have purchased 7,350,104 shares of company stock valued at $136,566,051 in the last 90 days. 12.78% of the stock is currently owned by corporate insiders.

Coupang Stock Up 1.6%

Shares of Coupang stock opened at $18.82 on Thursday. The firm has a market cap of $34.40 billion, a PE ratio of 156.80 and a beta of 1.20. The business’s 50 day simple moving average is $19.11 and its 200 day simple moving average is $25.23. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.79 and a current ratio of 1.04. Coupang, Inc. has a 52-week low of $16.74 and a 52-week high of $34.08.

Coupang (NYSE:CPNG) last released its quarterly earnings results on Thursday, February 26th. The company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.03). Coupang had a return on equity of 4.52% and a net margin of 0.60%.The firm had revenue of $8.84 billion for the quarter, compared to analyst estimates of $9.12 billion. During the same period last year, the company earned $0.04 EPS. The company’s revenue was up 10.9% compared to the same quarter last year. On average, analysts predict that Coupang, Inc. will post 0.17 earnings per share for the current fiscal year.

Analyst Ratings Changes

CPNG has been the subject of a number of research reports. Sanford C. Bernstein reissued an “underperform” rating on shares of Coupang in a research note on Monday, March 2nd. Morgan Stanley cut their price target on shares of Coupang from $31.00 to $29.00 and set an “overweight” rating on the stock in a research note on Monday, March 2nd. Nomura lowered their price objective on shares of Coupang from $22.00 to $20.00 and set a “neutral” rating for the company in a research report on Monday, March 2nd. Wall Street Zen lowered shares of Coupang from a “hold” rating to a “strong sell” rating in a report on Saturday, March 14th. Finally, Mizuho cut their price objective on shares of Coupang from $32.00 to $25.00 and set a “neutral” rating on the stock in a research report on Friday, February 27th. Six analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $26.70.

Coupang Profile

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.