Mirae Asset Global Investments Co. Ltd. Grows Stake in Coupang, Inc. (NYSE:CPNG)

Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Coupang, Inc. (NYSE:CPNG) by 3.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,566,337 shares of the company’s stock after purchasing an additional 46,849 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Coupang were worth $26,490,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Cetera Advisor Networks LLC grew its position in Coupang by 2.7% during the 2nd quarter. Cetera Advisor Networks LLC now owns 22,462 shares of the company’s stock worth $391,000 after purchasing an additional 583 shares during the last quarter. Envestnet Asset Management Inc. increased its position in shares of Coupang by 2.6% in the 2nd quarter. Envestnet Asset Management Inc. now owns 26,558 shares of the company’s stock valued at $462,000 after acquiring an additional 665 shares during the period. New York Life Investment Management LLC raised its stake in Coupang by 6.2% in the 1st quarter. New York Life Investment Management LLC now owns 13,740 shares of the company’s stock worth $220,000 after acquiring an additional 799 shares during the last quarter. Vestmark Advisory Solutions Inc. lifted its position in Coupang by 13.6% during the 2nd quarter. Vestmark Advisory Solutions Inc. now owns 11,978 shares of the company’s stock worth $208,000 after acquiring an additional 1,430 shares during the period. Finally, Pacer Advisors Inc. grew its stake in Coupang by 19.1% during the 2nd quarter. Pacer Advisors Inc. now owns 9,392 shares of the company’s stock valued at $163,000 after purchasing an additional 1,504 shares during the last quarter. Hedge funds and other institutional investors own 72.02% of the company’s stock.

Insider Activity

In related news, insider Tae Jung Kim sold 4,673 shares of the business’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $16.95, for a total value of $79,207.35. Following the completion of the sale, the insider now owns 254,530 shares of the company’s stock, valued at approximately $4,314,283.50. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 14.90% of the company’s stock.

Coupang Trading Up 1.9 %

CPNG stock opened at $16.34 on Tuesday. Coupang, Inc. has a 52-week low of $12.66 and a 52-week high of $20.25. The company has a quick ratio of 0.89, a current ratio of 1.14 and a debt-to-equity ratio of 0.18. The firm has a market cap of $29.21 billion, a P/E ratio of 68.08 and a beta of 1.38. The company’s 50-day simple moving average is $17.09 and its 200-day simple moving average is $17.26.

Coupang (NYSE:CPNG) last released its quarterly earnings results on Tuesday, November 7th. The company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.02). Coupang had a return on equity of 16.09% and a net margin of 1.86%. The business had revenue of $6.18 billion during the quarter, compared to analyst estimates of $5.91 billion. During the same period in the previous year, the company posted $0.05 EPS. The business’s revenue for the quarter was up 21.2% compared to the same quarter last year. As a group, equities analysts forecast that Coupang, Inc. will post 0.28 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently issued reports on CPNG. Deutsche Bank Aktiengesellschaft cut Coupang from a “buy” rating to a “hold” rating and set a $20.00 price objective for the company. in a research note on Wednesday, August 9th. Mizuho lifted their price objective on shares of Coupang from $20.00 to $22.00 in a research note on Wednesday, August 9th. TheStreet lowered shares of Coupang from a “c-” rating to a “d+” rating in a research note on Wednesday, November 8th. Barclays boosted their target price on shares of Coupang from $22.00 to $24.00 and gave the company an “overweight” rating in a research report on Thursday, August 10th. Finally, Bank of America increased their price target on Coupang from $19.00 to $22.00 in a research report on Thursday, August 10th. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Coupang has a consensus rating of “Moderate Buy” and an average price target of $22.50.

About Coupang

Coupang, Inc, together with its subsidiaries owns and operates in e-commerce business through its mobile applications and Internet websites primarily in South Korea. The company operates through two segments, Product Commerce and Developing Offerings. 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.