Coupang, Inc. (NYSE:CPNG) Stake Increased by Long Walk Management LP

Long Walk Management LP raised its holdings in shares of Coupang, Inc. (NYSE:CPNG) by 36.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,296,500 shares of the company’s stock after buying an additional 346,500 shares during the period. Coupang comprises approximately 10.4% of Long Walk Management LP’s investment portfolio, making the stock its 4th biggest position. Long Walk Management LP owned 0.07% of Coupang worth $28,497,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of CPNG. Atria Investments Inc boosted its stake in shares of Coupang by 4.2% during the third quarter. Atria Investments Inc now owns 23,111 shares of the company’s stock valued at $567,000 after purchasing an additional 937 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its position in Coupang by 0.3% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 374,807 shares of the company’s stock valued at $9,202,000 after buying an additional 1,135 shares during the period. Aigen Investment Management LP bought a new position in Coupang in the 3rd quarter worth about $266,000. Victory Capital Management Inc. increased its position in shares of Coupang by 0.9% during the third quarter. Victory Capital Management Inc. now owns 112,567 shares of the company’s stock worth $2,764,000 after acquiring an additional 1,024 shares during the period. Finally, Oppenheimer & Co. Inc. raised its stake in shares of Coupang by 10.6% during the third quarter. Oppenheimer & Co. Inc. now owns 11,265 shares of the company’s stock valued at $277,000 after acquiring an additional 1,082 shares in the last quarter. Institutional investors own 83.72% of the company’s stock.

Insider Buying and Selling at Coupang

In other news, VP Pranam Kolari sold 8,459 shares of the company’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $22.98, for a total transaction of $194,387.82. Following the transaction, the vice president now directly owns 136,806 shares of the company’s stock, valued at approximately $3,143,801.88. This represents a 5.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 13.60% of the company’s stock.

Coupang Price Performance

Shares of CPNG stock opened at $22.49 on Friday. The stock’s 50-day moving average is $23.28 and its 200 day moving average is $23.89. Coupang, Inc. has a 1-year low of $17.34 and a 1-year high of $26.91. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.13 and a quick ratio of 0.86. The company has a market cap of $40.60 billion, a P/E ratio of 39.45, a PEG ratio of 52.20 and a beta of 1.10.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on CPNG shares. Mizuho increased their price objective on Coupang from $25.00 to $27.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 26th. Barclays set a $35.00 price target on Coupang and gave the stock an “overweight” rating in a research report on Thursday, February 27th. Citigroup cut their price target on Coupang from $31.00 to $28.00 and set a “buy” rating on the stock in a research note on Wednesday, January 8th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Coupang from a “hold” rating to a “buy” rating and set a $28.50 price objective for the company in a research note on Wednesday, February 26th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $29.17.

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.