Assenagon Asset Management S.A. Has $73.51 Million Stock Holdings in Coupang, Inc. (NYSE:CPNG)

Assenagon Asset Management S.A. increased its position in shares of Coupang, Inc. (NYSE:CPNG) by 204.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,352,002 shares of the company’s stock after buying an additional 2,251,819 shares during the quarter. Assenagon Asset Management S.A. owned about 0.19% of Coupang worth $73,509,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Empowered Funds LLC bought a new stake in shares of Coupang during the fourth quarter worth about $772,000. Wingate Wealth Advisors Inc. bought a new position in Coupang in the 4th quarter valued at about $26,000. Sovran Advisors LLC acquired a new position in Coupang during the 4th quarter valued at about $500,000. Leavell Investment Management Inc. increased its holdings in Coupang by 64.3% during the 4th quarter. Leavell Investment Management Inc. now owns 18,400 shares of the company’s stock worth $404,000 after purchasing an additional 7,200 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of Coupang by 23.4% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 218,100 shares of the company’s stock worth $4,861,000 after purchasing an additional 41,384 shares during the last quarter. 83.72% of the stock is owned by institutional investors and hedge funds.

Coupang Stock Performance

NYSE:CPNG opened at $28.25 on Thursday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.13 and a quick ratio of 0.86. The business has a fifty day simple moving average of $24.92 and a two-hundred day simple moving average of $23.85. Coupang, Inc. has a 1 year low of $18.16 and a 1 year high of $29.12. The company has a market capitalization of $51.29 billion, a P/E ratio of 49.56, a P/E/G ratio of 52.20 and a beta of 1.15.

Coupang (NYSE:CPNG) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.01). Coupang had a return on equity of 11.52% and a net margin of 3.57%. The firm had revenue of $7.91 billion during the quarter, compared to analysts’ expectations of $8.02 billion. Coupang’s quarterly revenue was up 11.2% on a year-over-year basis. On average, analysts expect that Coupang, Inc. will post 0.17 earnings per share for the current year.

Insider Buying and Selling

In other news, VP Pranam Kolari sold 9,347 shares of the stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $23.85, for a total value of $222,925.95. Following the sale, the vice president now directly owns 177,106 shares of the company’s stock, valued at approximately $4,223,978.10. This represents a 5.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Benjamin Sun sold 250,000 shares of Coupang stock in a transaction on Monday, March 17th. The shares were sold at an average price of $23.43, for a total value of $5,857,500.00. Following the sale, the director now directly owns 1,719,421 shares of the company’s stock, valued at $40,286,034.03. This represents a 12.69% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 30,709,697 shares of company stock valued at $791,138,311. Company insiders own 12.78% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on CPNG. Mizuho upgraded Coupang to a “hold” rating in a research note on Friday, April 18th. Barclays increased their target price on shares of Coupang from $35.00 to $36.00 and gave the company an “overweight” rating in a report on Thursday, May 8th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Coupang from a “hold” rating to a “buy” rating and set a $28.50 price target on the stock in a report on Wednesday, February 26th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Coupang has an average rating of “Moderate Buy” and an average target price of $29.64.

Coupang 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.