Machina Capital S.A.S. Reduces Stock Position in Coupang, Inc. $CPNG

Machina Capital S.A.S. trimmed its position in Coupang, Inc. (NYSE:CPNG) by 80.3% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,659 shares of the company’s stock after selling 133,527 shares during the period. Machina Capital S.A.S.’s holdings in Coupang were worth $978,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. SVB Wealth LLC acquired a new position in shares of Coupang in the first quarter valued at approximately $28,000. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in Coupang in the 1st quarter worth approximately $30,000. Albion Financial Group UT acquired a new position in Coupang in the 2nd quarter valued at $30,000. Brooklyn Investment Group lifted its stake in shares of Coupang by 43.1% during the 1st quarter. Brooklyn Investment Group now owns 1,680 shares of the company’s stock worth $37,000 after purchasing an additional 506 shares during the period. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in shares of Coupang by 600.3% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 2,507 shares of the company’s stock worth $55,000 after purchasing an additional 2,149 shares during the period. 83.72% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Coupang

In related news, Director Benjamin Sun sold 815,797 shares of the company’s stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $31.88, for a total transaction of $26,007,608.36. Following the completion of the sale, the director directly owned 503,624 shares of the company’s stock, valued at approximately $16,055,533.12. This represents a 61.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Harold Rogers sold 64,755 shares of the stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $32.06, for a total value of $2,076,045.30. Following the completion of the sale, the insider owned 449,569 shares of the company’s stock, valued at approximately $14,413,182.14. This represents a 12.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 977,330 shares of company stock worth $30,864,398 over the last three months. 12.78% of the stock is currently owned by insiders.

Coupang Stock Performance

NYSE CPNG opened at $32.00 on Tuesday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.09 and a quick ratio of 0.84. Coupang, Inc. has a 1-year low of $19.02 and a 1-year high of $34.08. The firm has a market capitalization of $58.34 billion, a P/E ratio of 160.02 and a beta of 1.18. The business’s 50-day simple moving average is $31.49 and its 200-day simple moving average is $29.21.

Coupang (NYSE:CPNG) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.05). The business had revenue of $8.52 billion during the quarter, compared to analysts’ expectations of $8.34 billion. Coupang had a net margin of 1.13% and a return on equity of 7.47%. The company’s quarterly revenue was up 16.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.07 EPS. Equities analysts predict that Coupang, Inc. will post 0.17 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on CPNG shares. Morgan Stanley upped their target price on Coupang from $32.00 to $35.00 and gave the company an “overweight” rating in a research note on Wednesday, August 20th. Arete Research initiated coverage on Coupang in a report on Thursday, September 18th. They issued a “buy” rating and a $40.00 price target for the company. Zacks Research lowered shares of Coupang from a “hold” rating to a “strong sell” rating in a report on Monday, October 6th. Wall Street Zen cut shares of Coupang from a “buy” rating to a “hold” rating in a research report on Sunday, July 20th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Coupang in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Coupang has an average rating of “Moderate Buy” and a consensus price target of $33.50.

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.