Greenoaks Capital Reports a $54 Million CPNG Purchase

In a significant move, Greenoaks Capital just revealed a $54 million purchase of Coupang $CPNG shares in a Form 4 filing.

The investment firm is known for its focus on high-growth tech companies, having previously backed game-changers like Discord and Stripe.

With this purchase, Greenoaks is betting big that Coupang is positioned for further upside.

We mentioned CPNG in our Screamin' Hot Report back in August, when the stock was resolving higher from a bottoming formation.

Fast-forward to today, and the stock looks poised to continue grinding higher, with a valid trend reversal in place. 

As long as we’re above 21, we want to err in the direction of the underlying trend.

The Greenoaks filing is just additional confirmation that we’re onto something good with this name. 

Here’s The Hot Corner, with data from November 12, 2024:

The CEO of WisdomTree Inc $WT and HighPeak Energy $HPK both filed Form 4s revealing purchases of their own stock.

CEOs know their companies as well as anybody. 

When they step in, it signals strong confidence—suggesting they see the stock as undervalued and expect the price to rise.

In another Form 4, the senior vice president and CFO of Rockwell Automation $ROK, revealed a purchase of $2,000,901.

CFO purchases have the best track record of any executive – even better than CEO purchases. 

These always stand out to me, as the CFO knows the company’s financial position better than anyone. They are the smartest guys in the room. 

They also know how the market is likely to react to company results and news. It’s their job. They are the top corporate insiders. 

There was also insider activity in Noble Corporation $NE, Semler Scientific $SMLR, Diamondback Energy $FANG and FB Financial Corporation $FBK.