Coupang, Inc. (NYSE:CPNG) Director Buys $2,239,000.00 in Stock

Coupang, Inc. (NYSE:CPNG) Director Greenoaks Capital Partners Llc purchased 100,000 shares of the stock in a transaction on Thursday, August 15th. The stock was acquired at an average cost of $22.39 per share, for a total transaction of $2,239,000.00. Following the acquisition, the director now owns 50,376,224 shares in the company, valued at $1,127,923,655.36. The acquisition was disclosed in a legal filing with the SEC, which is available at this link.

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

• On Tuesday, August 13th, Greenoaks Capital Partners Llc purchased 251,300 shares of Coupang stock. The stock was acquired at an average cost of $22.58 per share, for a total transaction of $5,674,354.00.
• On Friday, August 9th, Greenoaks Capital Partners Llc acquired 150,000 shares of Coupang stock. The shares were purchased at an average price of $22.64 per share, for a total transaction of $3,396,000.00.

Coupang Stock Up 1.2 %

Shares of Coupang stock traded up $0.26 on Thursday, reaching $22.41. The company’s stock had a trading volume of 6,792,658 shares, compared to its average volume of 10,833,614. The company has a market capitalization of $40.07 billion, a price-to-earnings ratio of 32.01, a P/E/G ratio of 2,041.58 and a beta of 1.09. The firm’s fifty day simple moving average is $21.17 and its two-hundred day simple moving average is $20.00. Coupang, Inc. has a 52 week low of $13.51 and a 52 week high of $23.77. The company has a quick ratio of 0.89, a current ratio of 1.15 and a debt-to-equity ratio of 0.67.

Coupang (NYSE:CPNG) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.07 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.08. Coupang had a return on equity of 13.59% and a net margin of 4.96%. The company had revenue of $7.32 billion during the quarter, compared to analyst estimates of $7.39 billion. During the same quarter in the previous year, the company posted $0.08 earnings per share. Coupang’s revenue was up 25.4% compared to the same quarter last year. Equities analysts anticipate that Coupang, Inc. will post 0.01 earnings per share for the current year.

Institutional Trading of Coupang

Several hedge funds have recently bought and sold shares of CPNG. WCM Investment Management LLC lifted its position in shares of Coupang by 2,250.9% in the first quarter. WCM Investment Management LLC now owns 44,926,485 shares of the company’s stock valued at $799,242,000 after acquiring an additional 43,015,433 shares in the last quarter. Baillie Gifford & Co. raised its position in Coupang by 15.9% during the first quarter. Baillie Gifford & Co. now owns 168,600,998 shares of the company’s stock valued at $2,999,412,000 after purchasing an additional 23,076,870 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of 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 valued at $1,403,015,000 after buying an additional 18,894,909 shares during the last quarter. Norges Bank bought a new position in shares of Coupang during the fourth quarter valued at approximately $250,714,000. Finally, Assenagon Asset Management S.A. grew its stake in shares of Coupang by 217.1% during the first quarter. Assenagon Asset Management S.A. now owns 2,909,546 shares of the company’s stock valued at $51,761,000 after buying an additional 1,992,092 shares during the last quarter. Institutional investors own 83.72% of the company’s stock.

Wall Street Analysts Forecast Growth

CPNG has been the topic of several recent research reports. Barclays raised their price target on Coupang from $25.00 to $32.00 and gave the stock an “overweight” rating in a research report on Thursday, May 9th. UBS Group upgraded Coupang from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $18.50 to $26.00 in a research report on Thursday, May 16th. Citigroup raised their target price on Coupang from $26.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday, May 8th. Bank of America assumed coverage on Coupang in a research note on Friday, May 3rd. They issued a “buy” rating and a $30.00 target price for the company. Finally, Morgan Stanley raised their target price on Coupang from $26.00 to $27.00 and gave the company an “overweight” rating in a research note on Wednesday, June 26th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $26.71.

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.