Coupang, Inc. $CPNG Shares Purchased by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. raised its holdings in Coupang, Inc. (NYSE:CPNG) by 1,394.1% during the first quarter, Holdings Channel.com reports. The firm owned 17,117,583 shares of the company’s stock after purchasing an additional 15,971,942 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Coupang were worth $323,180,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in shares of Coupang by 3.3% during the 4th quarter. Vanguard Group Inc. now owns 29,547,637 shares of the company’s stock worth $697,029,000 after purchasing an additional 951,812 shares during the period. Ethic Inc. lifted its stake in shares of Coupang by 383.2% in the fourth quarter. Ethic Inc. now owns 126,154 shares of the company’s stock valued at $2,976,000 after purchasing an additional 100,047 shares during the period. William Blair Investment Management LLC lifted its stake in shares of Coupang by 114.6% in the third quarter. William Blair Investment Management LLC now owns 2,205,332 shares of the company’s stock valued at $71,012,000 after purchasing an additional 1,177,875 shares during the period. Gavilan Investment Partners LLC boosted its holdings in Coupang by 9.5% during the third quarter. Gavilan Investment Partners LLC now owns 1,265,000 shares of the company’s stock worth $40,733,000 after buying an additional 110,000 shares in the last quarter. Finally, Bank of Nova Scotia boosted its holdings in Coupang by 333.6% during the third quarter. Bank of Nova Scotia now owns 879,000 shares of the company’s stock worth $28,304,000 after buying an additional 676,300 shares in the last quarter. Institutional investors and hedge funds own 83.72% of the company’s stock.

Coupang Stock Performance

Shares of CPNG opened at $17.77 on Thursday. Coupang, Inc. has a 12-month low of $14.92 and a 12-month high of $34.08. The stock has a market cap of $31.90 billion, a P/E ratio of -197.43 and a beta of 1.12. The company has a current ratio of 0.97, a quick ratio of 0.76 and a debt-to-equity ratio of 0.16. The company has a 50-day moving average of $17.75 and a two-hundred day moving average of $19.58.

Coupang (NYSE:CPNG) last released its quarterly earnings results on Tuesday, May 5th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.06). Coupang had a negative net margin of 0.47% and a negative return on equity of 3.67%. The business had revenue of $8.50 billion during the quarter, compared to analyst estimates of $8.48 billion. During the same quarter in the prior year, the company earned $0.06 earnings per share. The firm’s revenue for the quarter was up 7.5% compared to the same quarter last year. As a group, research analysts predict that Coupang, Inc. will post -0.17 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CPNG. Wall Street Zen cut shares of Coupang from a “hold” rating to a “strong sell” rating in a report on Saturday, March 14th. Morgan Stanley decreased their price target on Coupang from $31.00 to $29.00 and set an “overweight” rating on the stock in a research note on Monday, March 2nd. CLSA began coverage on Coupang in a report on Monday, June 15th. They issued an “outperform” rating and a $24.00 price target on the stock. Mizuho dropped their price objective on Coupang from $32.00 to $25.00 and set a “neutral” rating for the company in a research note on Friday, February 27th. Finally, Citigroup downgraded Coupang from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $23.00 to $22.20 in a research note on Wednesday, May 6th. Five research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $25.65.

About Coupang

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.