Skye Global Management LP Invests $15.03 Million in Coupang, Inc. (NYSE:CPNG)

Skye Global Management LP acquired a new position in shares of Coupang, Inc. (NYSE:CPNG) in the 3rd quarter, according to its most recent disclosure with the SEC. The fund acquired 612,000 shares of the company’s stock, valued at approximately $15,025,000. Coupang comprises approximately 0.4% of Skye Global Management LP’s investment portfolio, making the stock its 22nd largest position.

A number of other hedge funds have also made changes to their positions in the business. Martingale Asset Management L P boosted its holdings in Coupang by 22.7% in the third quarter. Martingale Asset Management L P now owns 46,276 shares of the company’s stock valued at $1,136,000 after purchasing an additional 8,566 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Coupang by 8.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,247,757 shares of the company’s stock valued at $30,632,000 after buying an additional 92,463 shares in the last quarter. FORA Capital LLC grew its position in shares of Coupang by 31.0% in the 3rd quarter. FORA Capital LLC now owns 41,934 shares of the company’s stock valued at $1,029,000 after buying an additional 9,920 shares during the last quarter. Clark Estates Inc. NY purchased a new position in shares of Coupang in the 3rd quarter valued at $228,000. Finally, Brooklyn Investment Group acquired a new stake in Coupang during the 3rd quarter worth $28,000. Hedge funds and other institutional investors own 83.72% of the company’s stock.

Coupang Stock Performance

Shares of CPNG stock opened at $25.47 on Friday. The company has a current ratio of 1.13, a quick ratio of 0.86 and a debt-to-equity ratio of 0.28. The stock has a 50 day simple moving average of $25.06 and a 200-day simple moving average of $23.01. The company has a market cap of $45.82 billion, a price-to-earnings ratio of 44.68, a price-to-earnings-growth ratio of 229.25 and a beta of 1.10. Coupang, Inc. has a 12-month low of $13.51 and a 12-month high of $26.91.

Coupang (NYSE:CPNG) last released its quarterly earnings data on Tuesday, November 5th. The company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate 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 in the prior year, the business posted $0.05 earnings per share. Coupang’s revenue was up 27.2% compared to the same quarter last year. On average, equities analysts forecast that Coupang, Inc. will post 0.11 EPS for the current year.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In related news, Director Greenoaks Capital Partners Llc purchased 687,700 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was bought at an average cost of $24.08 per share, with a total value of $16,559,816.00. Following the completion of the acquisition, the director now directly owns 52,726,423 shares in the company, valued at $1,269,652,265.84. The trade was 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 Coupang 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 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. 13.60% of the stock is owned by insiders.

About Coupang

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.