Natixis Invests $3.89 Million in Coupang, Inc. (NYSE:CPNG)

Natixis bought a new position in shares of Coupang, Inc. (NYSE:CPNG) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 218,900 shares of the company’s stock, valued at approximately $3,894,000.

Other institutional investors have also made changes to their positions in the company. Baillie Gifford & Co. increased its stake in shares of Coupang by 15.9% in the first quarter. Baillie Gifford & Co. now owns 168,600,998 shares of the company’s stock worth $2,999,412,000 after buying an additional 23,076,870 shares during the last quarter. WCM Investment Management LLC increased its stake in shares of Coupang by 2,250.9% in the first quarter. WCM Investment Management LLC now owns 44,926,485 shares of the company’s stock worth $799,242,000 after buying an additional 43,015,433 shares during the last quarter. Norges Bank bought a new stake in shares of Coupang in the fourth quarter worth $250,714,000. Sands Capital Management LLC increased its stake in Coupang by 0.7% during the fourth quarter. Sands Capital Management LLC now owns 14,440,552 shares of the company’s stock valued at $233,793,000 after purchasing an additional 98,043 shares during the last quarter. Finally, Foxhaven Asset Management LP increased its stake in Coupang by 8.0% during the fourth quarter. Foxhaven Asset Management LP now owns 12,272,369 shares of the company’s stock valued at $198,690,000 after purchasing an additional 904,065 shares during the last quarter. 83.72% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CPNG has been the subject of several recent research reports. Barclays boosted their target price on shares of Coupang from $25.00 to $32.00 and gave the company an “overweight” rating in a research note on Thursday, May 9th. Morgan Stanley upped their price target on shares of Coupang from $26.00 to $27.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 26th. Bank of America began coverage on shares of Coupang in a research report on Friday, May 3rd. They set a “buy” rating and a $30.00 price target for the company. Mizuho upped their price target on shares of Coupang from $20.00 to $23.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 8th. Finally, Citigroup upped their price target on shares of Coupang from $26.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, May 8th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $26.71.

Coupang Price Performance

Shares of NYSE CPNG opened at $20.05 on Friday. Coupang, Inc. has a twelve month low of $13.51 and a twelve month high of $23.77. The company has a current ratio of 1.15, a quick ratio of 0.89 and a debt-to-equity ratio of 0.67. The company has a market capitalization of $35.85 billion, a price-to-earnings ratio of 28.27, a PEG ratio of 1,972.28 and a beta of 1.09. The firm has a 50-day moving average of $21.54 and a two-hundred day moving average of $19.39.

Coupang (NYSE:CPNG) last posted its quarterly earnings data on Tuesday, May 7th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.01). The company had revenue of $7.11 billion for the quarter, compared to analyst estimates of $6.95 billion. Coupang had a return on equity of 13.59% and a net margin of 4.96%. Coupang’s quarterly revenue was up 22.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.05 EPS. As a group, analysts expect that Coupang, Inc. will post 0.01 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Benjamin Sun sold 700,000 shares of the company’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $20.63, for a total value of $14,441,000.00. Following the transaction, the director now owns 2,169,421 shares in the company, valued at approximately $44,755,155.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Benjamin Sun sold 700,000 shares of the stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $20.63, for a total value of $14,441,000.00. Following the transaction, the director now owns 2,169,421 shares in the company, valued at $44,755,155.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Greenoaks Capital Partners Llc acquired 500,000 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The stock was purchased at an average price of $22.06 per share, for a total transaction of $11,030,000.00. Following the acquisition, the director now directly owns 48,626,374 shares of the company’s stock, valued at approximately $1,072,697,810.44. The disclosure for this purchase can be found here. Insiders have sold 753,538 shares of company stock worth $15,662,818 in the last 90 days. Company insiders own 13.60% of the company’s stock.

About Coupang

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.