Coupang, Inc. $CPNG Stock Acquired by Machina Capital S.A.S.

Machina Capital S.A.S. increased its stake in shares of Coupang, Inc. (NYSE:CPNG) by 38.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 128,666 shares of the company’s stock after purchasing 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.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Pinnacle Wealth Planning Services Inc. increased its position in Coupang by 652.6% during the third quarter. Pinnacle Wealth Planning Services Inc. now owns 2,702 shares of the company’s stock worth $37,000 after buying an additional 2,343 shares in the last quarter. Main Street Group LTD acquired a new position in shares of Coupang in the first quarter worth $40,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Coupang in the third quarter worth $40,000. Trellis Wealth Advisors LLC purchased a new stake in shares of Coupang in the third quarter valued at $44,000. Finally, Versant Capital Management Inc lifted its position in shares of Coupang by 94.6% in the third quarter. Versant Capital Management Inc now owns 3,478 shares of the company’s stock valued at $48,000 after acquiring an additional 1,691 shares in the last quarter. Hedge funds and other institutional investors own 83.72% of the company’s stock.

Coupang Stock Down 4.4%

CPNG stock opened at $15.29 on Friday. The stock has a market capitalization of $27.49 billion, a P/E ratio of -20.12 and a beta of 1.15. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.58 and a current ratio of 0.80. Coupang, Inc. has a one year low of $13.35 and a one year high of $29.08. The company has a 50 day moving average price of $14.73 and a two-hundred day moving average price of $17.07.

Coupang (NYSE:CPNG) last issued 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 return on equity of 21.51% and a negative net margin of 3.77%. The business had revenue of $9.96 billion for the quarter, compared to analysts’ expectations of $9.76 billion. During the same period in the prior year, the company earned $0.05 EPS. The company’s revenue for the quarter was up 7.5% compared to the same quarter last year. As a group, sell-side analysts expect that Coupang, Inc. will post -0.60 EPS for the current year.

Insider Activity at Coupang

In other news, CAO Jonathan D. Lee sold 5,519 shares of Coupang stock in a transaction on Friday, October 2nd. The stock was sold at an average price of $13.65, for a total value of $75,334.35. Following the completion of the sale, the chief accounting officer owned 176,396 shares of the company’s stock, valued at $2,407,805.40. The trade was a 3.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 12.83% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

CPNG has been the topic of a number of analyst reports. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Coupang in a research note on Monday, November 2nd. Bank of America dropped their price objective on Coupang from $27.00 to $24.00 and set a “buy” rating for the company in a research report on Wednesday, August 5th. Deutsche Bank raised shares of Coupang from a “hold” rating to a “buy” rating and cut their target price for the company from $23.00 to $21.50 in a research note on Wednesday, August 5th. Barclays upped their target price on shares of Coupang from $29.00 to $32.00 and gave the company an “overweight” rating in a report on Thursday, November 5th. Finally, Sanford C. Bernstein decreased their price target on shares of Coupang from $12.00 to $11.00 and set an “underperform” rating on the stock in a research note on Thursday, November 5th. Six analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Coupang presently has a consensus rating of “Hold” and an average price target of $23.41.

Coupang 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.