Greenoaks Capital Partners Llc Purchases 750,000 Shares of Coupang, Inc. (NYSE:CPNG) Stock

by · The Markets Daily

Coupang, Inc. (NYSE:CPNG – Get Free Report) Director Greenoaks Capital Partners Llc bought 750,000 shares of Coupang stock in a transaction on Friday, November 8th. The stock was acquired at an average price of $24.01 per share, for a total transaction of $18,007,500.00. Following the purchase, the director now owns 52,038,723 shares of the company’s stock, valued at approximately $1,249,449,739.23. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

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 shares were bought 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 bought 100,000 shares of Coupang stock. The stock was bought 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 purchased 100,000 shares of Coupang stock. The stock was bought at an average cost of $22.39 per share, for a total transaction of $2,239,000.00.

Coupang Stock Up 1.7 %

Shares of Coupang stock traded up $0.41 during trading hours on Tuesday, hitting $24.51. 10,693,823 shares of the company’s stock traded hands, compared to its average volume of 9,781,177. The stock has a 50 day simple moving average of $24.72 and a 200-day simple moving average of $22.83. The company has a quick ratio of 0.87, a current ratio of 1.13 and a debt-to-equity ratio of 0.28. The company has a market cap of $43.96 billion, a PE ratio of 43.00 and a beta of 1.10. Coupang, Inc. has a twelve month low of $13.51 and a twelve month high of $26.91.

Coupang (NYSE:CPNG – Get Free Report) last released its quarterly earnings results on Tuesday, November 5th. The company reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.05. Coupang had a net margin of 3.57% and a return on equity of 11.52%. The firm had revenue of $7.87 billion during the quarter, compared to analyst estimates of $7.76 billion. During the same period in the previous year, the business earned $0.05 EPS. The business’s revenue for the quarter was up 27.2% on a year-over-year basis. Equities research analysts anticipate that Coupang, Inc. will post 0.11 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Coupang

A number of hedge funds have recently bought and sold shares of CPNG. Van ECK Associates Corp lifted its position in Coupang by 63.1% in the 3rd quarter. Van ECK Associates Corp now owns 1,251 shares of the company’s stock valued at $32,000 after acquiring an additional 484 shares in the last quarter. Baader Bank Aktiengesellschaft increased its holdings in shares of Coupang by 5.7% during the 2nd quarter. Baader Bank Aktiengesellschaft now owns 10,567 shares of the company’s stock worth $219,000 after buying an additional 567 shares during the last quarter. Covestor Ltd lifted its stake in shares of Coupang by 10.4% in the 3rd quarter. Covestor Ltd now owns 6,479 shares of the company’s stock worth $159,000 after acquiring an additional 612 shares during the period. Resonant Capital Advisors LLC grew its holdings in shares of Coupang by 6.0% during the 2nd quarter. Resonant Capital Advisors LLC now owns 11,197 shares of the company’s stock worth $235,000 after purchasing an additional 635 shares in the last quarter. Finally, National Bank of Canada FI lifted its position in Coupang by 15.4% in the 2nd quarter. National Bank of Canada FI now owns 6,687 shares of the company’s stock valued at $141,000 after acquiring an additional 890 shares in the last quarter. 83.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. CLSA upgraded shares of Coupang from a “hold” rating to an “outperform” rating and lifted their target price for the company from $18.00 to $31.00 in a report on Wednesday, September 4th. Sanford C. Bernstein raised 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 issued a buy rating to the stock. According to data from MarketBeat.com, Coupang currently has an average rating of “Moderate Buy” and an average target price of $27.56.

Read Our Latest Analysis on CPNG

About Coupang

(Get Free Report)

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.

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