Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Coupang, Inc. (NYSE:CPNG – Free Report) by 3.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,566,337 shares of the company’s stock after acquiring an additional 46,849 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned approximately 0.09% of Coupang worth $26,490,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also bought and sold shares of the stock. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in shares of Coupang by 10.1% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 19,593 shares of the company’s stock worth $313,000 after purchasing an additional 1,793 shares during the last quarter. Janney Montgomery Scott LLC bought a new stake in shares of Coupang in the 2nd quarter worth approximately $560,000. California Public Employees Retirement System raised its holdings in shares of Coupang by 24.4% during the second quarter. California Public Employees Retirement System now owns 1,952,214 shares of the company’s stock valued at $33,969,000 after acquiring an additional 383,157 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Coupang by 13.4% during the first quarter. Bank of New York Mellon Corp now owns 531,448 shares of the company’s stock valued at $8,503,000 after acquiring an additional 63,001 shares in the last quarter. Finally, Howland Capital Management LLC lifted its stake in Coupang by 4.0% in the first quarter. Howland Capital Management LLC now owns 52,540 shares of the company’s stock worth $841,000 after acquiring an additional 2,000 shares during the period. 72.02% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several research analysts have commented on the stock. TheStreet lowered shares of Coupang from a “c-” rating to a “d+” rating in a report on Wednesday, November 8th. Deutsche Bank Aktiengesellschaft cut shares of Coupang from a “buy” rating to a “hold” rating and set a $20.00 price target for the company. in a research report on Wednesday, August 9th. Mizuho boosted their price target on Coupang from $20.00 to $22.00 in a research report on Wednesday, August 9th. Barclays raised their price objective on 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 boosted their target price on Coupang from $19.00 to $22.00 in a report on Thursday, August 10th. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $22.50.
Insider Transactions at Coupang
In other Coupang news, insider Tae Jung Kim sold 4,673 shares of the business’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $16.95, for a total transaction of $79,207.35. Following the completion of the sale, the insider now owns 254,530 shares of the company’s stock, valued at $4,314,283.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 14.90% of the stock is currently owned by company insiders.
Coupang Stock Up 1.9 %
CPNG stock opened at $16.34 on Tuesday. The business’s 50-day moving average is $17.09 and its two-hundred day moving average is $17.26. The company has a market cap of $29.21 billion, a price-to-earnings ratio of 68.08 and a beta of 1.38. Coupang, Inc. has a fifty-two week low of $12.66 and a fifty-two week high of $20.25. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.89 and a current ratio of 1.14.
Coupang (NYSE:CPNG – Get Free Report) last posted its quarterly earnings data on Tuesday, November 7th. The company reported $0.05 earnings per share (EPS) 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 analysts’ expectations of $5.91 billion. During the same period in the previous year, the business posted $0.05 EPS. The business’s quarterly revenue was up 21.2% compared to the same quarter last year. As a group, analysts forecast that Coupang, Inc. will post 0.28 earnings per share for the current year.
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.
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