Oak Thistle LLC Makes New $1.65 Million Investment in Coupang, Inc. (NYSE:CPNG)

Oak Thistle LLC purchased a new position in shares of Coupang, Inc. (NYSE:CPNG) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 75,103 shares of the company’s stock, valued at approximately $1,651,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. FMR LLC boosted its holdings in Coupang by 32.0% in 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 in the last quarter. State Street Corp lifted its position in shares of Coupang by 1.9% in the third quarter. State Street Corp now owns 14,125,599 shares of the company’s stock worth $346,783,000 after buying an additional 259,400 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Coupang by 43.2% during the 3rd quarter. Wellington Management Group LLP now owns 8,630,058 shares of the company’s stock worth $211,868,000 after acquiring an additional 2,603,046 shares in the last quarter. Dorsal Capital Management LP increased its holdings in shares of Coupang by 26.3% during the 2nd quarter. Dorsal Capital Management LP now owns 6,000,000 shares of the company’s stock valued at $125,700,000 after acquiring an additional 1,250,000 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Coupang by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 5,885,243 shares of the company’s stock valued at $144,483,000 after acquiring an additional 29,164 shares during the last quarter. Institutional investors own 83.72% of the company’s stock.

Insider Buying and Selling at Coupang

In other Coupang news, Director Greenoaks Capital Partners Llc purchased 687,700 shares of the stock in a transaction on Monday, November 11th. The shares were purchased at an average price of $24.08 per share, with a total value of $16,559,816.00. Following the acquisition, the director now directly owns 52,726,423 shares of the company’s stock, valued at $1,269,652,265.84. This represents a 1.32 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Bom Kim sold 15,000,000 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $22.97, for a total transaction of $344,550,000.00. Following the transaction, the chief executive officer now directly owns 2,000,000 shares of the company’s stock, valued at $45,940,000. The trade was a 88.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 13.60% of the company’s stock.

Analyst Ratings Changes

CPNG has been the subject of several analyst reports. Citigroup reduced their target price on Coupang from $31.00 to $28.00 and set a “buy” rating for the company in a report on Wednesday, January 8th. 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 equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $27.56.

Coupang Trading Up 0.6 %

Shares of CPNG stock opened at $21.94 on Wednesday. The firm has a market capitalization of $39.47 billion, a P/E ratio of 38.49, a price-to-earnings-growth ratio of 215.03 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 $23.59 and its 200 day simple moving average is $23.29. The company has a current ratio of 1.13, a quick ratio of 0.86 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 (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.05. Coupang had a net margin of 3.57% and a return on equity of 11.52%. The company had revenue of $7.87 billion for the quarter, compared to the consensus estimate of $7.76 billion. During the same quarter in the previous year, the firm posted $0.05 EPS. The business’s revenue was up 27.2% compared to the same quarter last year. As a group, sell-side analysts predict that Coupang, Inc. will post 0.11 EPS for the current year.

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.