Coupang, Inc. (NYSE:CPNG) Director Greenoaks Capital Partners Llc Buys 750,000 Shares

Coupang, Inc. (NYSE:CPNG) Director Greenoaks Capital Partners Llc purchased 750,000 shares of the stock in a transaction dated Friday, November 8th. The shares were purchased at an average price 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 in the company, valued at $1,249,449,739.23. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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 purchased 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 acquired 100,000 shares of Coupang stock. The shares were acquired at an average price of $22.95 per share, with a total value of $2,295,000.00.
• On Thursday, August 15th, Greenoaks Capital Partners Llc bought 100,000 shares of Coupang stock. The stock was acquired at an average price of $22.39 per share, for a total transaction of $2,239,000.00.

Coupang Stock Up 1.7 %

Coupang stock opened at $24.51 on Wednesday. The company has a market capitalization of $43.96 billion, a P/E ratio of 43.00 and a beta of 1.10. Coupang, Inc. has a 1-year low of $13.51 and a 1-year high of $26.91. The firm’s fifty day simple moving average is $24.72 and its 200-day simple moving average is $22.83. The company has a current ratio of 1.13, a quick ratio of 0.87 and a debt-to-equity ratio of 0.28.

Coupang (NYSE:CPNG) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.05. The company had revenue of $7.87 billion during the quarter, compared to analysts’ expectations of $7.76 billion. Coupang had a return on equity of 11.52% and a net margin of 3.57%. Coupang’s revenue for the quarter was up 27.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.05 earnings per share. Sell-side analysts forecast that Coupang, Inc. will post 0.11 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On Coupang

Several large investors have recently made changes to their positions in CPNG. Bleakley Financial Group LLC lifted its stake in shares of Coupang by 17.9% during the first quarter. Bleakley Financial Group LLC now owns 17,880 shares of the company’s stock valued at $318,000 after acquiring an additional 2,710 shares during the period. Handelsbanken Fonder AB lifted its holdings in Coupang by 2.9% during the third quarter. Handelsbanken Fonder AB now owns 884,144 shares of the company’s stock worth $21,706,000 after acquiring an additional 24,553 shares in the last quarter. abrdn plc increased its stake in Coupang by 40.2% during the 3rd quarter. abrdn plc now owns 202,359 shares of the company’s stock worth $4,968,000 after purchasing an additional 58,060 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its position in Coupang by 5.2% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,237,250 shares of the company’s stock valued at $39,801,000 after acquiring an additional 110,700 shares in the last quarter. Finally, Coronation Fund Managers Ltd. lifted its stake in Coupang by 139.1% in the 3rd quarter. Coronation Fund Managers Ltd. now owns 4,817,030 shares of the company’s stock valued at $118,258,000 after acquiring an additional 2,802,325 shares in the last quarter. Institutional investors own 83.72% 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.