Makena Capital Management LLC Purchases Shares of 292,008 Coupang, Inc. (NYSE:CPNG)

Makena Capital Management LLC acquired a new position in shares of Coupang, Inc. (NYSE:CPNG) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 292,008 shares of the company’s stock, valued at approximately $7,169,000.

Several other institutional investors also recently modified their holdings of CPNG. Price T Rowe Associates Inc. MD raised its position in shares of Coupang by 31.5% during the 1st 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 in the last quarter. Coronation Fund Managers Ltd. increased its holdings in Coupang by 139.1% during the 3rd quarter. Coronation Fund Managers Ltd. now owns 4,817,030 shares of the company’s stock valued at $118,258,000 after purchasing an additional 2,802,325 shares during the period. Baillie Gifford & Co. lifted its stake in Coupang by 1.6% in the second quarter. Baillie Gifford & Co. now owns 171,350,025 shares of the company’s stock worth $3,589,783,000 after acquiring an additional 2,749,027 shares during the period. Envestnet Asset Management Inc. increased its position in shares of Coupang by 2,570.0% during the second quarter. Envestnet Asset Management Inc. now owns 2,049,227 shares of the company’s stock valued at $42,931,000 after buying an additional 1,972,476 shares during the period. Finally, Assenagon Asset Management S.A. raised its position in shares of Coupang by 55.5% in the 2nd quarter. Assenagon Asset Management S.A. now owns 4,524,994 shares of the company’s stock worth $94,799,000 after acquiring an additional 1,615,448 shares in the last quarter. 83.72% of the stock is currently owned by institutional investors.

Coupang Trading Down 0.9 %

Coupang stock opened at $23.97 on Thursday. The firm has a market capitalization of $43.11 billion, a price-to-earnings ratio of 42.04, a P/E/G ratio of 217.73 and a beta of 1.10. Coupang, Inc. has a 12-month low of $13.51 and a 12-month high of $26.91. The firm has a 50 day moving average of $24.98 and a 200 day moving average of $22.93. The company has a current ratio of 1.13, a quick ratio of 0.86 and a debt-to-equity ratio of 0.28.

Coupang (NYSE:CPNG) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $0.06 EPS for the quarter, beating the consensus estimate of $0.01 by $0.05. The business had revenue of $7.87 billion for the quarter, compared to the consensus estimate of $7.76 billion. Coupang had a return on equity of 11.52% and a net margin of 3.57%. The business’s revenue was up 27.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.05 earnings per share. As a group, research analysts predict that Coupang, Inc. will post 0.11 earnings per share for the current year.

Insider Buying and Selling at Coupang

In other news, Director Greenoaks Capital Partners Llc purchased 687,700 shares of the business’s stock in a transaction on Monday, November 11th. The stock was acquired at an average price of $24.08 per share, for a total transaction of $16,559,816.00. Following the acquisition, the director now directly owns 52,726,423 shares of the company’s stock, valued at $1,269,652,265.84. This represents a 1.32 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Bom Kim sold 15,000,000 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were 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 owns 2,000,000 shares of the company’s stock, valued at $45,940,000. This represents a 88.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 13.60% of the company’s stock.

Analysts Set New Price Targets

CPNG has been the subject of a number of recent research reports. CLSA upgraded Coupang from a “hold” rating to an “outperform” rating and lifted their price objective for the company from $18.00 to $31.00 in a research note on Wednesday, September 4th. Sanford C. Bernstein raised Coupang from an “underperform” rating to an “outperform” rating and set a $30.00 price target on the stock in a report on Monday, October 7th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Coupang currently has a consensus rating of “Moderate Buy” and an average target price of $27.56.

Coupang 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.