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

Coupang, Inc. (NYSE:CPNG) Director Greenoaks Capital Partners Llc acquired 687,700 shares of the company’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 completion of the acquisition, the director now owns 52,726,423 shares of the company’s stock, valued at approximately $1,269,652,265.84. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Friday, November 8th, Greenoaks Capital Partners Llc bought 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 purchased at an average cost of $22.95 per share, for a total transaction of $2,295,000.00.
• On Thursday, August 15th, Greenoaks Capital Partners Llc bought 100,000 shares of Coupang stock. The shares were bought at an average price of $22.39 per share, with a total value of $2,239,000.00.

Coupang Trading Up 1.7 %

Shares of NYSE CPNG traded up $0.41 on Tuesday, reaching $24.51. 10,693,823 shares of the company traded hands, compared to its average volume of 9,781,177. Coupang, Inc. has a fifty-two week low of $13.51 and a fifty-two week high of $26.91. The company has a 50 day moving average of $24.72 and a 200 day moving average of $22.83. The stock has a market capitalization of $43.96 billion, a PE ratio of 43.00 and a beta of 1.10. 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 released its quarterly earnings data on Tuesday, November 5th. The company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $7.76 billion. During the same quarter in the prior year, the company posted $0.05 earnings per share. The firm’s revenue was up 27.2% on a year-over-year basis. On average, equities research analysts forecast that Coupang, Inc. will post 0.11 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD increased its stake in shares of 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 acquiring an additional 18,894,909 shares during the period. Coronation Fund Managers Ltd. boosted 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 worth $118,258,000 after buying an additional 2,802,325 shares during the last quarter. Baillie Gifford & Co. grew its position in Coupang by 1.6% in the second quarter. Baillie Gifford & Co. now owns 171,350,025 shares of the company’s stock valued at $3,589,783,000 after acquiring an additional 2,749,027 shares in the last quarter. Envestnet Asset Management Inc. grew its position in shares of Coupang by 2,570.0% during the 2nd quarter. Envestnet Asset Management Inc. now owns 2,049,227 shares of the company’s stock valued at $42,931,000 after buying an additional 1,972,476 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in shares of Coupang by 55.5% during the second quarter. Assenagon Asset Management S.A. now owns 4,524,994 shares of the company’s stock valued at $94,799,000 after acquiring an additional 1,615,448 shares during the period. 83.72% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

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.