Natixis Advisors LLC Acquires 44,970 Shares of Coupang, Inc. $CPNG

Natixis Advisors LLC increased its holdings in Coupang, Inc. (NYSE:CPNG) by 3.7% in the third quarter, HoldingsChannel.com reports. The fund owned 1,257,688 shares of the company’s stock after acquiring an additional 44,970 shares during the period. Natixis Advisors LLC’s holdings in Coupang were worth $40,498,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in Coupang by 343.5% in the 3rd quarter. Vanguard Group Inc. now owns 28,595,825 shares of the company’s stock worth $920,786,000 after purchasing an additional 22,147,432 shares in the last quarter. Norges Bank bought a new stake in shares of Coupang during the 2nd quarter valued at about $587,186,000. Eminence Capital LP bought a new stake in shares of Coupang during the 2nd quarter valued at about $204,840,000. Dodge & Cox increased its position in shares of Coupang by 14.3% during the second quarter. Dodge & Cox now owns 46,614,520 shares of the company’s stock valued at $1,396,571,000 after buying an additional 5,829,600 shares during the period. Finally, Marshall Wace LLP increased its position in shares of Coupang by 115.9% during the second quarter. Marshall Wace LLP now owns 6,360,239 shares of the company’s stock valued at $190,553,000 after buying an additional 3,414,359 shares during the period. 83.72% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have commented on the stock. Weiss Ratings lowered shares of Coupang from a “hold (c)” rating to a “sell (d+)” rating in a report on Monday, March 2nd. Citigroup reduced their target price on Coupang from $27.00 to $24.00 and set a “buy” rating on the stock in a report on Tuesday, February 10th. Nomura decreased their target price on Coupang from $22.00 to $20.00 and set a “neutral” rating for the company in a research report on Monday, March 2nd. Sanford C. Bernstein restated an “underperform” rating on shares of Coupang in a research report on Monday, March 2nd. Finally, Barclays upped their price target on Coupang from $23.00 to $24.00 and gave the stock an “overweight” rating in a research note on Monday, March 2nd. Six equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $26.70.

Insider Buying and Selling at Coupang

In related news, CAO Jonathan D. Lee sold 2,679 shares of the company’s stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $23.62, for a total value of $63,277.98. Following the sale, the chief accounting officer owned 122,096 shares in the company, valued at $2,883,907.52. This represents a 2.15% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 12.78% of the stock is owned by insiders.

Coupang Trading Down 1.3%

NYSE:CPNG opened at $18.83 on Tuesday. Coupang, Inc. has a one year low of $16.74 and a one year high of $34.08. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.04 and a quick ratio of 0.79. The company’s 50-day simple moving average is $19.98 and its 200 day simple moving average is $25.99. The firm has a market capitalization of $34.39 billion, a P/E ratio of 156.89 and a beta of 1.20.

Coupang (NYSE:CPNG) last announced its quarterly earnings data on Thursday, February 26th. The company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.03). Coupang had a return on equity of 4.52% and a net margin of 0.60%.The business had revenue of $8.84 billion during the quarter, compared to analysts’ expectations of $9.12 billion. During the same quarter last year, the company posted $0.04 EPS. Coupang’s revenue for the quarter was up 10.9% compared to the same quarter last year. As a group, analysts forecast that Coupang, Inc. will post 0.17 EPS for the current fiscal year.

About Coupang

Coupang, listed on the New York Stock Exchange under the ticker CPNG, is a South Korean e-commerce company headquartered in Seoul. Founded in 2010 by Bom Kim, the company grew rapidly by combining an online marketplace with a large direct-retail business model. Coupang completed a primary listing in the United States in 2021, and it has become one of South Korea’s leading online retailers by focusing on convenience, speed and a wide product assortment across consumer categories.

The company operates a vertically integrated e-commerce platform that includes a customer-facing marketplace and an extensive logistics and fulfillment network.