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

Coupang, Inc. (NYSE:CPNG) Director Greenoaks Capital Partners Llc bought 750,000 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The shares were acquired at an average cost of $24.01 per share, with a total value of $18,007,500.00. Following the transaction, the director now owns 52,038,723 shares in the company, valued at approximately $1,249,449,739.23. This represents a 0.00 % increase in their position. The transaction was disclosed in a document filed 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 acquired 687,700 shares of Coupang stock. The stock was purchased at an average cost of $24.08 per share, with a total value of $16,559,816.00.
• On Wednesday, August 21st, Greenoaks Capital Partners Llc acquired 100,000 shares of Coupang stock. The stock was 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 acquired 100,000 shares of Coupang stock. The stock was purchased at an average cost of $22.39 per share, with a total value of $2,239,000.00.

Coupang Stock Performance

Coupang stock opened at $25.91 on Thursday. The stock has a market cap of $46.47 billion, a P/E ratio of 45.07, a price-to-earnings-growth ratio of 220.61 and a beta of 1.10. The company has a current ratio of 1.13, a quick ratio of 0.86 and a debt-to-equity ratio of 0.28. The stock has a 50 day moving average of $24.77 and a 200-day moving average of $22.84. Coupang, Inc. has a 52 week low of $13.51 and a 52 week high of $26.91.

Coupang (NYSE:CPNG) last announced its quarterly earnings data 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 return on equity of 11.52% and a net margin of 3.57%. The firm had revenue of $7.87 billion for the quarter, compared to analysts’ expectations of $7.76 billion. During the same period last year, the business posted $0.05 earnings per share. The firm’s revenue for the quarter was up 27.2% on a year-over-year basis. On average, analysts expect that Coupang, Inc. will post 0.11 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have issued reports on the stock. CLSA raised shares of Coupang from a “hold” rating to an “outperform” rating and increased their price objective for the company from $18.00 to $31.00 in a research report on Wednesday, September 4th. Sanford C. Bernstein raised 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 research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, Coupang presently has a consensus rating of “Moderate Buy” and an average target price of $27.56.

Hedge Funds Weigh In On Coupang

Several large investors have recently added to or reduced their stakes in the company. Baillie Gifford & Co. lifted its stake in Coupang by 1.6% during the second quarter. Baillie Gifford & Co. now owns 171,350,025 shares of the company’s stock worth $3,589,783,000 after purchasing an additional 2,749,027 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Coupang by 31.5% during 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 purchasing an additional 18,894,909 shares during the last quarter. FMR LLC lifted its stake in Coupang by 32.0% during the third quarter. FMR LLC now owns 27,153,608 shares of the company’s stock worth $666,621,000 after purchasing an additional 6,584,910 shares during the last quarter. Kontiki Capital Management HK Ltd. lifted its stake in Coupang by 1.9% during the first quarter. Kontiki Capital Management HK Ltd. now owns 8,693,468 shares of the company’s stock worth $154,657,000 after purchasing an additional 159,900 shares during the last quarter. Finally, Bamco Inc. NY lifted its stake in Coupang by 9.6% during the first quarter. Bamco Inc. NY now owns 7,942,062 shares of the company’s stock worth $141,289,000 after purchasing an additional 693,898 shares during the last quarter. 83.72% of the stock is currently owned by institutional investors.

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.