Assenagon Asset Management S.A. Has $27.03 Million Stock Position in Coupang, Inc. $CPNG

Assenagon Asset Management S.A. cut its position in Coupang, Inc. (NYSE:CPNG) by 47.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,145,641 shares of the company’s stock after selling 1,024,711 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Coupang were worth $27,026,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Sunbelt Securities Inc. bought a new stake in Coupang during the third quarter worth $26,000. Orion Capital Management LLC bought a new stake in shares of Coupang in the 3rd quarter valued at about $32,000. Hilltop National Bank acquired a new stake in Coupang in the 3rd quarter valued at about $34,000. Fifth Third Bancorp grew its holdings in Coupang by 1,250.0% during the third quarter. Fifth Third Bancorp now owns 1,080 shares of the company’s stock worth $35,000 after purchasing an additional 1,000 shares during the period. Finally, Root Financial Partners LLC acquired a new position in shares of Coupang during the 3rd quarter worth approximately $40,000. 83.72% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Coupang

In related news, CAO Jonathan D. Lee sold 2,679 shares of the company’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 completion of the sale, the chief accounting officer owned 122,096 shares of the company’s stock, valued at $2,883,907.52. This represents a 2.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Neil Mehta acquired 2,332,863 shares of Coupang stock in a transaction on Friday, March 13th. The shares were purchased at an average price of $18.40 per share, for a total transaction of $42,924,679.20. Following the completion of the purchase, the director directly owned 55,310,977 shares of the company’s stock, valued at approximately $1,017,721,976.80. This represents a 4.40% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders have bought 7,350,104 shares of company stock worth $136,566,051. 12.78% of the stock is currently owned by insiders.

Coupang Stock Up 1.6%

Shares of CPNG opened at $18.82 on Thursday. The company has a current ratio of 1.04, a quick ratio of 0.79 and a debt-to-equity ratio of 0.14. Coupang, Inc. has a 12 month low of $16.74 and a 12 month high of $34.08. The firm’s 50 day moving average is $19.11 and its 200-day moving average is $25.23. The stock has a market capitalization of $34.40 billion, a PE ratio of 156.80 and a beta of 1.20.

Coupang (NYSE:CPNG) last issued its quarterly earnings results on Thursday, February 26th. The company reported ($0.01) earnings per share (EPS) 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 company had revenue of $8.84 billion for the quarter, compared to analyst estimates of $9.12 billion. During the same period in the prior year, the company earned $0.04 EPS. The company’s quarterly revenue was up 10.9% compared to the same quarter last year. Equities research analysts forecast that Coupang, Inc. will post 0.17 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on CPNG shares. Morgan Stanley lowered their price target on shares of Coupang from $31.00 to $29.00 and set an “overweight” rating on the stock in a report on Monday, March 2nd. Weiss Ratings cut Coupang from a “hold (c)” rating to a “sell (d+)” rating in a report on Monday, March 2nd. Barclays boosted their price target on Coupang from $23.00 to $24.00 and gave the company an “overweight” rating in a research note on Monday, March 2nd. Deutsche Bank Aktiengesellschaft upgraded Coupang from a “hold” rating to a “buy” rating and set a $25.00 price objective on the stock in a research report on Friday, January 16th. Finally, Mizuho dropped their target price on Coupang from $32.00 to $25.00 and set a “neutral” rating for the company in a report on Friday, February 27th. Six investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Coupang has a consensus rating of “Hold” and a consensus target price 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.