292,008 Shares in Coupang, Inc. (NYSE:CPNG) Bought by Makena Capital Management LLC

Makena Capital Management LLC bought a new stake in Coupang, Inc. (NYSE:CPNG) during the 3rd quarter, HoldingsChannel reports. The fund bought 292,008 shares of the company’s stock, valued at approximately $7,169,000.

Several other institutional investors have also recently made changes to their positions in CPNG. Intech Investment Management LLC purchased a new stake in Coupang in the 3rd quarter valued at about $250,000. PNC Financial Services Group Inc. increased its holdings in Coupang by 2.0% during the 3rd quarter. PNC Financial Services Group Inc. now owns 240,235 shares of the company’s stock worth $5,898,000 after purchasing an additional 4,800 shares during the period. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Coupang in the 3rd quarter worth $920,000. Pathstone Holdings LLC grew its position in shares of Coupang by 3.2% during the 3rd quarter. Pathstone Holdings LLC now owns 215,411 shares of the company’s stock worth $5,288,000 after buying an additional 6,615 shares in the last quarter. Finally, Quest Partners LLC bought a new stake in shares of Coupang in the third quarter valued at about $370,000. Institutional investors own 83.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Sanford C. Bernstein upgraded shares of Coupang from an “underperform” rating to an “outperform” rating and set a $30.00 price target for the company in a report on Monday, October 7th. CLSA raised shares of Coupang from a “hold” rating to an “outperform” rating and boosted their price objective for the stock from $18.00 to $31.00 in a research note on Wednesday, September 4th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $27.56.

Insider Transactions at Coupang

In other news, CEO Bom Kim sold 15,000,000 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $22.97, for a total value 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 approximately $45,940,000. This represents a 88.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Greenoaks Capital Partners Llc bought 750,000 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were purchased at an average cost of $24.01 per share, with a total value of $18,007,500.00. Following the acquisition, the director now directly owns 52,038,723 shares of the company’s stock, valued at approximately $1,249,449,739.23. This trade represents a 1.46 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 13.60% of the company’s stock.

Coupang Price Performance

Shares of CPNG opened at $23.97 on Thursday. The company has a 50 day moving average of $24.98 and a two-hundred day moving average of $22.93. The company has a quick ratio of 0.86, a current ratio of 1.13 and a debt-to-equity ratio of 0.28. Coupang, Inc. has a twelve month low of $13.51 and a twelve month high of $26.91. The company has a market cap of $43.11 billion, a price-to-earnings ratio of 42.04, a price-to-earnings-growth ratio of 217.73 and a beta of 1.10.

Coupang (NYSE:CPNG) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $0.06 earnings per share 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 during the quarter, compared to analysts’ expectations of $7.76 billion. During the same quarter last year, the firm earned $0.05 EPS. The business’s quarterly revenue was up 27.2% on a year-over-year basis. As a group, analysts predict that Coupang, Inc. will post 0.11 earnings per share for the current fiscal year.

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.