Insider Buying: Coupang, Inc. (NYSE:CPNG) Director Buys 750,000 Shares of Stock

Coupang, Inc. (NYSE:CPNG) Director Greenoaks Capital Partners Llc purchased 750,000 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were acquired at an average cost of $24.01 per share, for a total transaction of $18,007,500.00. Following the completion of the transaction, the director now owns 52,038,723 shares of the company’s stock, valued at $1,249,449,739.23. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Greenoaks Capital Partners Llc also recently made the following trade(s):

• On Monday, November 11th, Greenoaks Capital Partners Llc bought 687,700 shares of Coupang stock. The shares were bought at an average cost of $24.08 per share, for a total transaction of $16,559,816.00.
• On Wednesday, August 21st, Greenoaks Capital Partners Llc bought 100,000 shares of Coupang stock. The shares were purchased at an average cost of $22.95 per share, with a total value of $2,295,000.00.
• On Thursday, August 15th, Greenoaks Capital Partners Llc purchased 100,000 shares of Coupang stock. The stock was purchased at an average price of $22.39 per share, for a total transaction of $2,239,000.00.

Coupang Price Performance

Shares of NYSE:CPNG opened at $24.51 on Wednesday. The firm has a market cap of $43.96 billion, a price-to-earnings ratio of 43.00 and a beta of 1.10. The business has a 50-day simple moving average of $24.72 and a two-hundred day simple moving average of $22.83. Coupang, Inc. has a fifty-two week low of $13.51 and a fifty-two week high of $26.91. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.87 and a current ratio of 1.13.

Coupang (NYSE:CPNG) last released its earnings results on Tuesday, November 5th. The company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.05. Coupang had a net margin of 3.57% and a return on equity of 11.52%. The company had revenue of $7.87 billion during the quarter, compared to analyst estimates of $7.76 billion. During the same period in the prior year, the firm posted $0.05 EPS. The firm’s quarterly revenue was up 27.2% compared to the same quarter last year. On average, analysts expect that Coupang, Inc. will post 0.11 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts recently issued reports on CPNG shares. CLSA raised Coupang from a “hold” rating to an “outperform” rating and lifted their target price for the company from $18.00 to $31.00 in a research report on Wednesday, September 4th. Sanford C. Bernstein upgraded shares of Coupang from an “underperform” rating to an “outperform” rating and set a $30.00 price objective for the company in a research report on Monday, October 7th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $27.56.

Institutional Investors Weigh In On Coupang

A number of hedge funds have recently made changes to their positions in CPNG. Sei Investments Co. grew its position in shares of Coupang by 68.8% in the 1st quarter. Sei Investments Co. now owns 1,145,853 shares of the company’s stock worth $20,385,000 after buying an additional 467,037 shares during the last quarter. Meeder Advisory Services Inc. acquired a new position in shares of Coupang in the 1st quarter valued at about $184,000. Russell Investments Group Ltd. lifted its holdings in Coupang by 9.1% in the first quarter. Russell Investments Group Ltd. now owns 2,249,822 shares of the company’s stock valued at $40,008,000 after acquiring an additional 188,167 shares during the period. US Bancorp DE boosted its position in Coupang by 1,379.0% in the 1st quarter. US Bancorp DE now owns 209,951 shares of the company’s stock worth $3,735,000 after purchasing an additional 195,756 shares in the last quarter. Finally, Bleakley Financial Group LLC grew its stake in shares of Coupang by 17.9% during the 1st quarter. Bleakley Financial Group LLC now owns 17,880 shares of the company’s stock worth $318,000 after purchasing an additional 2,710 shares during the period. 83.72% of the stock is currently owned by hedge funds and other institutional investors.

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.