Coupang, Inc. (NYSE:CPNG) is Octahedron Capital Management L.P.’s 5th Largest Position

Octahedron Capital Management L.P. lifted its holdings in shares of Coupang, Inc. (NYSE:CPNG) by 8.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 378,000 shares of the company’s stock after purchasing an additional 28,000 shares during the quarter. Coupang accounts for approximately 7.9% of Octahedron Capital Management L.P.’s portfolio, making the stock its 5th largest position. Octahedron Capital Management L.P.’s holdings in Coupang were worth $7,919,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of CPNG. WCM Investment Management LLC grew its holdings in shares of Coupang by 2,250.9% during the first quarter. WCM Investment Management LLC now owns 44,926,485 shares of the company’s stock worth $799,242,000 after purchasing an additional 43,015,433 shares in the last quarter. Baillie Gifford & Co. boosted its stake in 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 in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Coupang by 31.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 78,865,294 shares of the company’s stock worth $1,403,015,000 after buying an additional 18,894,909 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in Coupang by 2,570.0% in the second quarter. Envestnet Asset Management Inc. now owns 2,049,227 shares of the company’s stock worth $42,931,000 after buying an additional 1,972,476 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in Coupang by 55.5% in the second quarter. Assenagon Asset Management S.A. now owns 4,524,994 shares of the company’s stock worth $94,799,000 after buying an additional 1,615,448 shares in the last quarter. Hedge funds and other institutional investors own 83.72% of the company’s stock.

Coupang Stock Performance

Shares of CPNG stock opened at $24.58 on Friday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.87 and a current ratio of 1.12. Coupang, Inc. has a fifty-two week low of $13.51 and a fifty-two week high of $24.74. The stock has a 50 day moving average price of $22.08 and a two-hundred day moving average price of $21.34. The company has a market capitalization of $43.95 billion, a P/E ratio of 35.11, a PEG ratio of 171.76 and a beta of 1.10.

Coupang (NYSE:CPNG) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.07 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.08. Coupang had a return on equity of 12.04% and a net margin of 3.87%. The firm had revenue of $7.32 billion during the quarter, compared to the consensus estimate of $7.39 billion. During the same quarter in the previous year, the company posted $0.08 earnings per share. The business’s revenue was up 25.4% on a year-over-year basis. Analysts expect that Coupang, Inc. will post 0.14 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. CLSA raised Coupang from a “hold” rating to an “outperform” rating and upped their target price for the stock from $18.00 to $31.00 in a research note on Wednesday, September 4th. Morgan Stanley upped their target price on Coupang from $26.00 to $27.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 26th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $27.25.

Insider Activity at Coupang

In related news, insider Pranam Kolari sold 10,432 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $19.90, for a total transaction of $207,596.80. Following the completion of the transaction, the insider now owns 170,356 shares in the company, valued at $3,390,084.40. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Coupang news, Director Greenoaks Capital Partners Llc bought 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The stock was bought at an average price of $22.95 per share, for a total transaction of $2,295,000.00. Following the completion of the acquisition, the director now directly owns 50,476,224 shares in the company, valued at $1,158,429,340.80. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Pranam Kolari sold 10,432 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $19.90, for a total value of $207,596.80. Following the transaction, the insider now owns 170,356 shares of the company’s stock, valued at approximately $3,390,084.40. The disclosure for this sale can be found here. Over the last quarter, insiders acquired 601,300 shares of company stock worth $13,604,354 and sold 410,432 shares worth $9,429,597. 13.60% of the stock is owned by corporate insiders.

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.