Coupang, Inc. (NYSE:CPNG) Stock Holdings Boosted by Octahedron Capital Management L.P.

Octahedron Capital Management L.P. grew its position in shares of Coupang, Inc. (NYSE:CPNG) by 8.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 378,000 shares of the company’s stock after acquiring an additional 28,000 shares during the quarter. Coupang accounts for approximately 7.9% of Octahedron Capital Management L.P.’s portfolio, making the stock its 5th largest holding. Octahedron Capital Management L.P.’s holdings in Coupang were worth $7,919,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the company. Baillie Gifford & Co. boosted its holdings in Coupang by 1.6% during the 2nd 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 last quarter. Price T Rowe Associates Inc. MD boosted its holdings in 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 worth $1,403,015,000 after acquiring an additional 18,894,909 shares during the last quarter. WCM Investment Management LLC boosted its holdings in Coupang by 2,250.9% during the 1st quarter. WCM Investment Management LLC now owns 44,926,485 shares of the company’s stock worth $799,242,000 after acquiring an additional 43,015,433 shares during the last quarter. Sands Capital Management LLC boosted its holdings in Coupang by 0.7% during the 4th quarter. Sands Capital Management LLC now owns 14,440,552 shares of the company’s stock worth $233,793,000 after acquiring an additional 98,043 shares during the last quarter. Finally, Foxhaven Asset Management LP raised its stake in shares of Coupang by 8.0% during the 4th quarter. Foxhaven Asset Management LP now owns 12,272,369 shares of the company’s stock worth $198,690,000 after purchasing an additional 904,065 shares during the period. 83.72% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Coupang

In related news, insider Pranam Kolari sold 10,432 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $19.90, for a total value of $207,596.80. Following the sale, the insider now directly owns 170,356 shares in the company, valued at approximately $3,390,084.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Pranam Kolari sold 10,432 shares of the company’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $19.90, for a total transaction of $207,596.80. Following the sale, the insider now directly owns 170,356 shares in the company, valued at $3,390,084.40. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Greenoaks Capital Partners Llc purchased 100,000 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were bought at an average price of $22.95 per share, for a total transaction of $2,295,000.00. Following the completion of the transaction, the director now owns 50,476,224 shares of the company’s stock, valued at $1,158,429,340.80. The disclosure for this purchase can be found here. In the last three months, insiders have bought 601,300 shares of company stock worth $13,604,354 and have sold 410,432 shares worth $9,429,597. 13.60% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on CPNG shares. Morgan Stanley lifted their target price on Coupang from $26.00 to $27.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 26th. CLSA upgraded Coupang from a “hold” rating to an “outperform” rating and lifted their target price for the stock from $18.00 to $31.00 in a research note on Wednesday, September 4th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $27.25.

Coupang Trading Up 1.6 %

Shares of Coupang stock opened at $24.58 on Friday. Coupang, Inc. has a 52-week low of $13.51 and a 52-week high of $24.74. The stock’s 50-day simple moving average is $22.08 and its 200 day simple moving average is $21.34. The stock has a market capitalization of $43.95 billion, a P/E ratio of 35.11, a P/E/G ratio of 171.76 and a beta of 1.10. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.87 and a current ratio of 1.12.

Coupang (NYSE:CPNG) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.08. Coupang had a return on equity of 12.04% and a net margin of 3.87%. The business had revenue of $7.32 billion for the quarter, compared to analysts’ expectations of $7.39 billion. During the same period in the previous year, the business posted $0.08 EPS. The firm’s quarterly revenue was up 25.4% compared to the same quarter last year. As a group, research analysts anticipate that Coupang, Inc. will post 0.14 EPS for the current 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.