Coupang, Inc. (NYSE:CPNG) Director Buys $16,559,816.00 in Stock

Coupang, Inc. (NYSE:CPNG) Director Greenoaks Capital Partners Llc bought 687,700 shares of the business’s stock in a transaction on Monday, November 11th. The shares were acquired at an average cost of $24.08 per share, for a total transaction of $16,559,816.00. Following the transaction, the director now directly owns 52,726,423 shares in the company, valued at approximately $1,269,652,265.84. This trade represents a 1.32 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website.

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

• On Friday, November 8th, Greenoaks Capital Partners Llc acquired 750,000 shares of Coupang stock. The shares were acquired at an average price of $24.01 per share, for a total transaction of $18,007,500.00.
• On Wednesday, August 21st, Greenoaks Capital Partners Llc bought 100,000 shares of Coupang stock. The shares were bought 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 purchased 100,000 shares of Coupang stock. The stock was bought at an average price of $22.39 per share, for a total transaction of $2,239,000.00.

Coupang Stock Performance

Shares of Coupang stock opened at $25.33 on Friday. The company has a 50 day moving average price of $24.81 and a 200 day moving average price of $22.87. The firm has a market capitalization of $45.43 billion, a P/E ratio of 44.44, a PEG ratio of 220.61 and a beta of 1.10. The company has a quick ratio of 0.86, a current ratio of 1.13 and a debt-to-equity ratio of 0.28. Coupang, Inc. has a 52 week low of $13.51 and a 52 week high of $26.91.

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

Analysts Set New Price Targets

A number of brokerages recently weighed in on CPNG. CLSA raised Coupang from a “hold” rating to an “outperform” rating and raised their price objective 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 note on Monday, October 7th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Coupang presently has an average rating of “Moderate Buy” and an average price target of $27.56.

Institutional Trading of Coupang

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Brooklyn Investment Group purchased a new position in shares of Coupang in the third quarter worth about $28,000. Asset Dedication LLC increased its holdings in Coupang by 438.1% in the 3rd quarter. Asset Dedication LLC now owns 1,216 shares of the company’s stock worth $30,000 after buying an additional 990 shares during the period. Van ECK Associates Corp raised its position in Coupang by 63.1% during the 3rd quarter. Van ECK Associates Corp now owns 1,251 shares of the company’s stock worth $32,000 after buying an additional 484 shares during the last quarter. GAMMA Investing LLC raised its position in Coupang by 308.2% during the 2nd quarter. GAMMA Investing LLC now owns 1,947 shares of the company’s stock worth $41,000 after buying an additional 1,470 shares during the last quarter. Finally, Wolff Wiese Magana LLC boosted its holdings in shares of Coupang by 330.4% in the 3rd quarter. Wolff Wiese Magana LLC now owns 1,687 shares of the company’s stock valued at $41,000 after acquiring an additional 1,295 shares during the last quarter. Institutional investors and hedge funds 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.