Aigen Investment Management LP Acquires New Position in Coupang, Inc. (NYSE:CPNG)

Aigen Investment Management LP bought a new position in Coupang, Inc. (NYSE:CPNG) during the third quarter, Holdings Channel reports. The institutional investor bought 10,855 shares of the company’s stock, valued at approximately $266,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CPNG. Price T Rowe Associates Inc. MD raised its position in shares of Coupang by 31.5% during 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 purchasing an additional 18,894,909 shares during the period. Coronation Fund Managers Ltd. increased its position in Coupang by 139.1% in the third quarter. Coronation Fund Managers Ltd. now owns 4,817,030 shares of the company’s stock worth $118,258,000 after buying an additional 2,802,325 shares during the period. Baillie Gifford & Co. increased its position in Coupang by 1.6% in the second quarter. Baillie Gifford & Co. now owns 171,350,025 shares of the company’s stock worth $3,589,783,000 after buying an additional 2,749,027 shares during the period. Envestnet Asset Management Inc. lifted its stake in Coupang by 2,570.0% in the second quarter. Envestnet Asset Management Inc. now owns 2,049,227 shares of the company’s stock valued at $42,931,000 after buying an additional 1,972,476 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of Coupang by 55.5% during the second quarter. Assenagon Asset Management S.A. now owns 4,524,994 shares of the company’s stock valued at $94,799,000 after acquiring an additional 1,615,448 shares during the period. 83.72% of the stock is currently owned by institutional investors and hedge funds.

Coupang Stock Performance

Shares of CPNG stock opened at $24.48 on Friday. The stock’s fifty day simple moving average is $24.90 and its 200-day simple moving average is $22.89. The company has a market capitalization of $43.91 billion, a price-to-earnings ratio of 42.95, a P/E/G ratio of 233.12 and a beta of 1.10. The company has a current ratio of 1.13, a quick ratio of 0.86 and a debt-to-equity ratio of 0.28. Coupang, Inc. has a 1-year low of $13.51 and a 1-year high of $26.91.

Coupang (NYSE:CPNG) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.05. The business had revenue of $7.87 billion during the quarter, compared to analyst estimates of $7.76 billion. Coupang had a net margin of 3.57% and a return on equity of 11.52%. The firm’s revenue was up 27.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.05 earnings per share. On average, sell-side analysts predict that Coupang, Inc. will post 0.11 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Benjamin Sun sold 200,000 shares of Coupang stock in a transaction on Monday, August 19th. The shares were sold at an average price of $23.36, for a total value of $4,672,000.00. Following the completion of the sale, the director now owns 1,969,421 shares of the company’s stock, valued at approximately $46,005,674.56. The trade was a 9.22 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Bom Kim sold 15,000,000 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $22.97, for a total transaction of $344,550,000.00. Following the transaction, the chief executive officer now directly owns 2,000,000 shares in the company, valued at $45,940,000. The trade was a 88.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have purchased 1,537,700 shares of company stock worth $36,862,316 and have sold 15,200,956 shares worth $349,245,164. 13.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts recently weighed in on CPNG shares. Sanford C. Bernstein upgraded shares of Coupang from an “underperform” rating to an “outperform” rating and set a $30.00 price objective on the stock in a research report on Monday, October 7th. CLSA raised Coupang from a “hold” rating to an “outperform” rating and lifted their price target for the company from $18.00 to $31.00 in a report on Wednesday, September 4th. One 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, the company has a consensus 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.