Insider Buying: Coupang, Inc. (NYSE:CPNG) Director Purchases $3,396,000.00 in Stock

Coupang, Inc. (NYSE:CPNG) Director Greenoaks Capital Partners Llc acquired 150,000 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were bought at an average cost of $22.64 per share, for a total transaction of $3,396,000.00. Following the acquisition, the director now owns 49,874,924 shares of the company’s stock, valued at approximately $1,129,168,279.36. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Coupang Stock Performance

Shares of CPNG stock opened at $22.15 on Thursday. Coupang, Inc. has a one year low of $13.51 and a one year high of $23.77. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.89 and a current ratio of 1.15. The company has a 50 day moving average price of $21.16 and a 200 day moving average price of $19.98. The firm has a market capitalization of $39.60 billion, a price-to-earnings ratio of 31.64, a price-to-earnings-growth ratio of 2,041.58 and a beta of 1.09.

Coupang (NYSE:CPNG) last issued its quarterly earnings results 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 net margin of 4.96% and a return on equity of 13.59%. The firm had revenue of $7.32 billion during the quarter, compared to analyst estimates of $7.39 billion. During the same quarter in the prior year, the business posted $0.08 earnings per share. Coupang’s revenue for the quarter was up 25.4% compared to the same quarter last year. Sell-side analysts anticipate that Coupang, Inc. will post 0.01 EPS for the current year.

Hedge Funds Weigh In On Coupang

Several institutional investors and hedge funds have recently bought and sold shares of CPNG. Global Retirement Partners LLC increased its position in shares of Coupang by 135.8% in the first quarter. Global Retirement Partners LLC now owns 1,436 shares of the company’s stock worth $26,000 after acquiring an additional 827 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Coupang by 308.2% in the second quarter. GAMMA Investing LLC now owns 1,947 shares of the company’s stock worth $41,000 after acquiring an additional 1,470 shares in the last quarter. Register Financial Advisors LLC acquired a new stake in shares of Coupang in the first quarter worth $50,000. Opal Wealth Advisors LLC acquired a new stake in shares of Coupang in the second quarter worth $74,000. Finally, Benjamin F. Edwards & Company Inc. increased its position in shares of Coupang by 360.6% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 4,118 shares of the company’s stock worth $86,000 after acquiring an additional 3,224 shares in the last quarter. Institutional investors and hedge funds own 83.72% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Mizuho upped their price target on shares of Coupang from $20.00 to $23.00 and gave the company a “neutral” rating in a report on Wednesday, May 8th. Barclays upped their price target on shares of Coupang from $25.00 to $32.00 and gave the company an “overweight” rating in a report on Thursday, May 9th. Citigroup upped their price target on shares of Coupang from $26.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, May 8th. UBS Group raised shares of Coupang from a “neutral” rating to a “buy” rating and upped their price objective for the company from $18.50 to $26.00 in a research note on Thursday, May 16th. Finally, Morgan Stanley upped their price objective on shares of Coupang from $26.00 to $27.00 and gave the company an “overweight” rating in a research note on Wednesday, June 26th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Coupang currently has a consensus rating of “Moderate Buy” and an average price target of $26.71.

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.