Machina Capital S.A.S. Buys 35,716 Shares of Coupang, Inc. $CPNG

Machina Capital S.A.S. increased its stake in Coupang, Inc. (NYSE:CPNG) by 38.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 128,666 shares of the company’s stock after acquiring an additional 35,716 shares during the period. Machina Capital S.A.S.’s holdings in Coupang were worth $1,785,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Light Street Capital Management LLC raised its stake in Coupang by 92.5% during the second quarter. Light Street Capital Management LLC now owns 2,025,000 shares of the company’s stock worth $35,174,000 after purchasing an additional 973,043 shares during the period. Nellore Capital Management LLC boosted its holdings in shares of Coupang by 12.6% in the 2nd quarter. Nellore Capital Management LLC now owns 3,760,975 shares of the company’s stock valued at $65,328,000 after purchasing an additional 420,000 shares during the last quarter. Nykredit A S acquired a new position in shares of Coupang in the 2nd quarter valued at $1,270,000. Assenagon Asset Management S.A. grew its stake in shares of Coupang by 112.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 28,102,139 shares of the company’s stock valued at $389,777,000 after buying an additional 14,865,737 shares during the period. Finally, Corient Private Wealth LP grew its stake in shares of Coupang by 490.6% during the 2nd quarter. Corient Private Wealth LP now owns 655,963 shares of the company’s stock valued at $11,394,000 after buying an additional 544,899 shares during the period. 83.72% of the stock is currently owned by hedge funds and other institutional investors.

Coupang Trading Down 4.4%

NYSE CPNG opened at $15.29 on Friday. Coupang, Inc. has a one year low of $13.35 and a one year high of $29.08. The company’s 50 day moving average price is $14.73 and its 200 day moving average price is $17.07. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.58 and a current ratio of 0.80. The firm has a market capitalization of $27.49 billion, a price-to-earnings ratio of -20.12 and a beta of 1.15.

Coupang (NYSE:CPNG) last announced its quarterly earnings results on Tuesday, November 3rd. The company reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.09). Coupang had a negative net margin of 3.77% and a negative return on equity of 21.51%. The business had revenue of $9.96 billion for the quarter, compared to analyst estimates of $9.76 billion. During the same period last year, the firm earned $0.05 earnings per share. The company’s quarterly revenue was up 7.5% on a year-over-year basis. On average, sell-side analysts predict that Coupang, Inc. will post -0.60 EPS for the current year.

Insider Activity

In other news, CAO Jonathan D. Lee sold 5,519 shares of the firm’s stock in a transaction on Friday, October 2nd. The shares were sold at an average price of $13.65, for a total value of $75,334.35. Following the transaction, the chief accounting officer owned 176,396 shares of the company’s stock, valued at approximately $2,407,805.40. This trade represents a 3.03% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 12.83% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Sanford C. Bernstein dropped their price objective on Coupang from $12.00 to $11.00 and set an “underperform” rating for the company in a report on Thursday, November 5th. Weiss Ratings reiterated a “sell (d)” rating on shares of Coupang in a report on Monday, November 2nd. Citigroup upgraded Coupang from a “neutral” rating to a “buy” rating and set a $19.00 target price on the stock in a report on Wednesday, November 4th. Deutsche Bank raised Coupang from a “hold” rating to a “buy” rating and lowered their price target for the company from $23.00 to $21.50 in a research report on Wednesday, August 5th. Finally, Bank of America dropped their price target on Coupang from $27.00 to $24.00 and set a “buy” rating for the company in a research note on Wednesday, August 5th. Six research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $23.41.

Coupang Company Profile

Coupang, Inc. is an e-commerce and technology company best known for its online marketplace in South Korea. The platform offers products across categories such as electronics, apparel, household goods and groceries, combining third-party sellers with retail operations and a network of fulfillment and delivery services. Its services include Rocket Delivery for rapid shipping, Rocket Fresh for grocery delivery and Coupang Eats for food delivery. Coupang also offers Coupang Play, a video-streaming service, and operates a paid membership program called Rocket Wow.