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

Oak Thistle LLC purchased a new position in shares of Coupang, Inc. (NYSE:CPNG) during the fourth quarter, according to 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 recently bought and sold shares of CPNG. FMR LLC grew its holdings in shares of Coupang by 32.0% during 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 during the last quarter. Coronation Fund Managers Ltd. lifted its position in Coupang by 139.1% during the 3rd quarter. Coronation Fund Managers Ltd. now owns 4,817,030 shares of the company’s stock worth $118,258,000 after buying an additional 2,802,325 shares in the last quarter. Wellington Management Group LLP grew its holdings in 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 during the last quarter. Jacobs Levy Equity Management Inc. increased its position in Coupang by 762.2% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 2,798,782 shares of the company’s stock valued at $68,710,000 after acquiring an additional 2,474,175 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its stake in shares of Coupang by 2,570.0% in the second quarter. Envestnet Asset Management Inc. now owns 2,049,227 shares of the company’s stock worth $42,931,000 after acquiring an additional 1,972,476 shares during the last quarter. 83.72% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Coupang

In other news, Director Greenoaks Capital Partners Llc purchased 687,700 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was bought 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 approximately $1,269,652,265.84. This represents a 1.32 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Bom Kim sold 15,000,000 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $22.97, for a total transaction of $344,550,000.00. Following the completion of the sale, the chief executive officer now owns 2,000,000 shares of the company’s stock, valued at approximately $45,940,000. This represents a 88.24 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 13.60% of the company’s stock.

Coupang Price Performance

CPNG opened at $21.94 on Wednesday. The company has a fifty day moving average price of $23.59 and a two-hundred day moving average price of $23.29. The firm has a market capitalization of $39.47 billion, a PE ratio of 38.49, a P/E/G ratio of 215.03 and a beta of 1.10. Coupang, Inc. has a 52 week low of $13.51 and a 52 week high of $26.91. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.86 and a current ratio of 1.13.

Coupang (NYSE:CPNG) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $0.06 EPS 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 business had revenue of $7.87 billion during the quarter, compared to analysts’ expectations of $7.76 billion. During the same period in the previous year, the firm earned $0.05 earnings per share. The firm’s quarterly revenue was up 27.2% compared to the same quarter last year. As a group, analysts anticipate that Coupang, Inc. will post 0.11 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have recently commented on CPNG. Sanford C. Bernstein raised shares of Coupang from an “underperform” rating to an “outperform” rating and set a $30.00 price target on the stock in a research note on Monday, October 7th. Citigroup decreased their price objective on Coupang from $31.00 to $28.00 and set a “buy” rating on the stock in a research report on Wednesday, January 8th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $27.56.

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.