Machina Capital S.A.S. Lowers Stock Holdings in Coupang, Inc. $CPNG

Machina Capital S.A.S. lessened its stake in shares of Coupang, Inc. (NYSE:CPNG) by 80.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,659 shares of the company’s stock after selling 133,527 shares during the quarter. Machina Capital S.A.S.’s holdings in Coupang were worth $978,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC raised its position in Coupang by 73.5% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 16,533 shares of the company’s stock worth $363,000 after buying an additional 7,002 shares during the last quarter. Amalgamated Bank increased its stake in shares of Coupang by 6.7% during the first quarter. Amalgamated Bank now owns 82,427 shares of the company’s stock worth $1,808,000 after acquiring an additional 5,174 shares during the period. Vontobel Holding Ltd. purchased a new position in Coupang during the first quarter worth about $241,000. D.A. Davidson & CO. lifted its position in Coupang by 7.5% in the first quarter. D.A. Davidson & CO. now owns 134,958 shares of the company’s stock valued at $2,960,000 after purchasing an additional 9,419 shares during the period. Finally, OneDigital Investment Advisors LLC boosted its holdings in Coupang by 10.0% in the 1st quarter. OneDigital Investment Advisors LLC now owns 30,001 shares of the company’s stock valued at $658,000 after purchasing an additional 2,737 shares in the last quarter. 83.72% of the stock is currently owned by hedge funds and other institutional investors.

Coupang Stock Performance

Shares of CPNG stock opened at $32.00 on Tuesday. The stock has a fifty day moving average price of $31.49 and a 200 day moving average price of $29.21. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.84 and a current ratio of 1.09. The stock has a market cap of $58.34 billion, a PE ratio of 160.02 and a beta of 1.18. Coupang, Inc. has a 1 year low of $19.02 and a 1 year high of $34.08.

Coupang (NYSE:CPNG) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.05). Coupang had a net margin of 1.13% and a return on equity of 7.47%. The firm had revenue of $8.52 billion during the quarter, compared to analysts’ expectations of $8.34 billion. During the same quarter in the prior year, the business earned $0.07 EPS. The company’s quarterly revenue was up 16.4% compared to the same quarter last year. Sell-side analysts forecast that Coupang, Inc. will post 0.17 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CPNG. Morgan Stanley increased their target price on Coupang from $32.00 to $35.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 20th. Nomura upgraded Coupang from a “neutral” rating to a “buy” rating and set a $35.00 price objective for the company in a research report on Wednesday, August 6th. Arete started coverage on Coupang in a report on Thursday, September 18th. They issued a “buy” rating and a $40.00 target price for the company. Zacks Research cut shares of Coupang from a “hold” rating to a “strong sell” rating in a research note on Monday, October 6th. Finally, Arete Research assumed coverage on shares of Coupang in a report on Thursday, September 18th. They issued a “buy” rating and a $40.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $33.50.

Insider Buying and Selling at Coupang

In other Coupang news, Director Pedro Franceschi sold 21,428 shares of Coupang stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $32.05, for a total transaction of $686,767.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Gaurav Anand sold 75,350 shares of the company’s stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $27.79, for a total transaction of $2,093,976.50. Following the completion of the sale, the chief financial officer directly owned 2,016,940 shares in the company, valued at $56,050,762.60. This trade represents a 3.60% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 977,330 shares of company stock valued at $30,864,398. Insiders own 12.78% of the company’s stock.

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.