Mirae Asset Global Investments Co. Ltd. Has $14.51 Million Stake in Coupang, Inc. (NYSE:CPNG)

Mirae Asset Global Investments Co. Ltd. lowered its stake in shares of Coupang, Inc. (NYSE:CPNG) by 0.2% in the third quarter, Holdings Channel.com reports. The firm owned 591,021 shares of the company’s stock after selling 929 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Coupang were worth $14,510,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Baillie Gifford & Co. boosted its stake in Coupang by 1.6% during the 2nd quarter. Baillie Gifford & Co. now owns 171,350,025 shares of the company’s stock valued at $3,589,783,000 after purchasing an additional 2,749,027 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Coupang by 31.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 78,865,294 shares of the company’s stock worth $1,403,015,000 after buying an additional 18,894,909 shares during the last quarter. Kontiki Capital Management HK Ltd. boosted its stake in shares of Coupang by 1.9% in the 1st quarter. Kontiki Capital Management HK Ltd. now owns 8,693,468 shares of the company’s stock worth $154,657,000 after buying an additional 159,900 shares during the last quarter. Bamco Inc. NY boosted its stake in shares of Coupang by 9.6% in the 1st quarter. Bamco Inc. NY now owns 7,942,062 shares of the company’s stock worth $141,289,000 after buying an additional 693,898 shares during the last quarter. Finally, Dorsal Capital Management LP boosted its stake in shares of Coupang by 26.3% in the 2nd quarter. Dorsal Capital Management LP now owns 6,000,000 shares of the company’s stock worth $125,700,000 after buying an additional 1,250,000 shares during the last quarter. Institutional investors and hedge funds own 83.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Sanford C. Bernstein upgraded Coupang from an “underperform” rating to an “outperform” rating and set a $30.00 target price on the stock in a research note on Monday, October 7th. CLSA upgraded Coupang from a “hold” rating to an “outperform” rating and boosted their target price for the stock from $18.00 to $31.00 in a research note on Wednesday, September 4th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, Coupang currently has a consensus rating of “Moderate Buy” and an average price target of $27.56.

Insider Buying and Selling at Coupang

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 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 legal filing with the SEC, which is available through this link. 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 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 legal filing with the SEC, which is available through this link. Also, Director Greenoaks Capital Partners Llc bought 100,000 shares of the stock in a transaction on Wednesday, August 21st. The shares were acquired at an average cost of $22.95 per share, for a total transaction of $2,295,000.00. Following the acquisition, the director now directly owns 50,476,224 shares in the company, valued at approximately $1,158,429,340.80. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 601,300 shares of company stock valued at $13,604,354 and have sold 411,388 shares valued at $9,452,761. Insiders own 13.60% of the company’s stock.

Coupang Price Performance

Coupang stock opened at $25.67 on Friday. Coupang, Inc. has a 12 month low of $13.51 and a 12 month high of $26.28. The company has a current ratio of 1.12, a quick ratio of 0.87 and a debt-to-equity ratio of 0.72. The business’s 50 day simple moving average is $24.10 and its 200 day simple moving average is $22.55. The company has a market cap of $45.90 billion, a price-to-earnings ratio of 36.67, a PEG ratio of 282.07 and a beta of 1.11.

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

About Coupang

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.