Coupang, Inc. (NYSE:CPNG) Stake Raised by Asset Dedication LLC

Asset Dedication LLC increased its holdings in Coupang, Inc. (NYSE:CPNG) by 438.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,216 shares of the company’s stock after buying an additional 990 shares during the quarter. Asset Dedication LLC’s holdings in Coupang were worth $30,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. Bleakley Financial Group LLC grew its stake in shares of Coupang by 17.9% in the first quarter. Bleakley Financial Group LLC now owns 17,880 shares of the company’s stock worth $318,000 after purchasing an additional 2,710 shares in the last quarter. Handelsbanken Fonder AB increased its stake in Coupang by 2.9% during the 3rd quarter. Handelsbanken Fonder AB now owns 884,144 shares of the company’s stock valued at $21,706,000 after buying an additional 24,553 shares during the period. Mitsubishi UFJ Trust & Banking Corp raised its position in shares of Coupang by 5.2% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,237,250 shares of the company’s stock worth $39,801,000 after buying an additional 110,700 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of Coupang by 55.5% in the 2nd quarter. Assenagon Asset Management S.A. now owns 4,524,994 shares of the company’s stock worth $94,799,000 after acquiring an additional 1,615,448 shares during the period. Finally, GSA Capital Partners LLP boosted its holdings in shares of Coupang by 767.9% in the first quarter. GSA Capital Partners LLP now owns 108,990 shares of the company’s stock valued at $1,939,000 after acquiring an additional 96,432 shares in the last quarter. 83.72% of the stock is currently owned by institutional investors and hedge funds.

Coupang Trading Down 0.3 %

Shares of NYSE CPNG opened at $25.31 on Friday. The business has a fifty day simple moving average of $23.76 and a 200-day simple moving average of $22.23. The company has a market cap of $45.25 billion, a price-to-earnings ratio of 36.16, a P/E/G ratio of 282.07 and a beta of 1.11. Coupang, Inc. has a 12 month low of $13.51 and a 12 month high of $26.28. The company has a quick ratio of 0.87, a current ratio of 1.12 and a debt-to-equity ratio of 0.72.

Coupang (NYSE:CPNG) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.07 EPS for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.08. The company had revenue of $7.32 billion during the quarter, compared to analyst estimates of $7.39 billion. Coupang had a net margin of 3.87% and a return on equity of 12.04%. The business’s quarterly revenue was up 25.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.08 earnings per share. Sell-side analysts predict that Coupang, Inc. will post 0.09 EPS for the current year.

Insider Buying and Selling

In other Coupang news, insider Pranam Kolari sold 10,432 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $19.90, for a total transaction of $207,596.80. Following the sale, the insider now directly owns 170,356 shares of the company’s stock, valued at $3,390,084.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Coupang news, insider Pranam Kolari sold 10,432 shares of Coupang stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $19.90, for a total transaction of $207,596.80. Following the transaction, the insider now owns 170,356 shares of the company’s stock, valued at $3,390,084.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Benjamin Sun sold 200,000 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $23.36, for a total transaction of $4,672,000.00. Following the completion of the sale, the director now directly owns 1,969,421 shares of the company’s stock, valued at $46,005,674.56. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders bought 601,300 shares of company stock valued at $13,604,354 and sold 411,388 shares valued at $9,452,761. Company insiders own 13.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Sanford C. Bernstein raised Coupang from an “underperform” rating to an “outperform” rating and set a $30.00 target price on the stock in a report on Monday, October 7th. Morgan Stanley upped their price objective on Coupang from $26.00 to $27.00 and gave the company an “overweight” rating in a report on Wednesday, June 26th. Finally, CLSA raised Coupang from a “hold” rating to an “outperform” rating and lifted their target price for the stock from $18.00 to $31.00 in a report on Wednesday, September 4th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $27.56.

Coupang Company 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.