Mirae Asset Global Investments Co. Ltd. Purchases 46,849 Shares of Coupang, Inc. (NYSE:CPNG)

Mirae Asset Global Investments Co. Ltd. increased its position in Coupang, Inc. (NYSE:CPNG) by 3.1% in the second quarter, according to 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 buying an additional 46,849 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned 0.09% of Coupang worth $26,490,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Cetera Advisor Networks LLC boosted its position in Coupang by 2.7% during the second quarter. Cetera Advisor Networks LLC now owns 22,462 shares of the company’s stock valued at $391,000 after buying an additional 583 shares during the period. Charles Schwab Investment Management Inc. purchased a new stake in Coupang during the 2nd quarter valued at about $3,178,000. Octahedron Capital Management L.P. grew its position in Coupang by 33.9% during the 2nd quarter. Octahedron Capital Management L.P. now owns 158,000 shares of the company’s stock worth $2,749,000 after acquiring an additional 40,000 shares during the last quarter. TD Asset Management Inc lifted its position in Coupang by 3.9% in the second quarter. TD Asset Management Inc now owns 390,506 shares of the company’s stock valued at $6,795,000 after purchasing an additional 14,595 shares during the last quarter. Finally, California Public Employees Retirement System lifted its position in Coupang by 24.4% in 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 purchasing an additional 383,157 shares during the last quarter. Hedge funds and other institutional investors own 72.02% of the company’s stock.

Insiders Place Their Bets

In other news, insider Tae Jung Kim sold 4,673 shares of the business’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $16.95, for a total value of $79,207.35. Following the sale, the insider now directly owns 254,530 shares of the company’s stock, valued at approximately $4,314,283.50. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 14.90% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on CPNG. Barclays increased their price target on shares of Coupang from $22.00 to $24.00 and gave the company an “overweight” rating in a research report on Thursday, August 10th. Bank of America increased their price objective on Coupang from $19.00 to $22.00 in a report on Thursday, August 10th. Mizuho boosted their target price on Coupang from $20.00 to $22.00 in a research note on Wednesday, August 9th. TheStreet lowered Coupang from a “c-” rating to a “d+” rating in a research note on Wednesday, November 8th. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of Coupang from a “buy” rating to a “hold” rating and set a $20.00 price objective on the stock. in a research report on Wednesday, August 9th. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Coupang presently has an average rating of “Moderate Buy” and a consensus target price of $22.50.

Coupang Trading Up 1.9 %

NYSE CPNG opened at $16.34 on Tuesday. The firm has a market capitalization of $29.21 billion, a PE ratio of 68.08 and a beta of 1.38. The stock’s 50 day moving average is $17.09 and its 200 day moving average is $17.26. Coupang, Inc. has a twelve month low of $12.66 and a twelve month high of $20.25. The company has a quick ratio of 0.89, a current ratio of 1.14 and a debt-to-equity ratio of 0.18.

Coupang (NYSE:CPNG) last announced its earnings results on Tuesday, November 7th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.02). The business had revenue of $6.18 billion for the quarter, compared to the consensus estimate of $5.91 billion. Coupang had a net margin of 1.86% and a return on equity of 16.09%. The business’s quarterly revenue was up 21.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.05 EPS. Research analysts forecast that Coupang, Inc. will post 0.28 earnings per share for the current fiscal year.

About Coupang

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.