Long Walk Management LP Acquires 346,500 Shares of Coupang, Inc. (NYSE:CPNG)

Long Walk Management LP grew its position in shares of Coupang, Inc. (NYSE:CPNG - Free Report) by 36.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,296,500 shares of the company's stock after buying an additional 346,500 shares during the quarter. Coupang makes up about 10.4% of Long Walk Management LP's investment portfolio, making the stock its 4th largest holding. Long Walk Management LP owned approximately 0.07% of Coupang worth $28,497,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Atria Investments Inc boosted its position in Coupang by 4.2% during the third quarter. Atria Investments Inc now owns 23,111 shares of the company's stock worth $567,000 after purchasing an additional 937 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its position in Coupang by 0.3% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 374,807 shares of the company's stock worth $9,202,000 after purchasing an additional 1,135 shares during the period. Aigen Investment Management LP bought a new stake in Coupang during the third quarter worth approximately $266,000. Victory Capital Management Inc. boosted its position in 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 purchasing an additional 1,024 shares during the period. Finally, Oppenheimer & Co. Inc. boosted its position in Coupang by 10.6% during the third quarter. Oppenheimer & Co. Inc. now owns 11,265 shares of the company's stock worth $277,000 after purchasing an additional 1,082 shares during the period. 83.72% of the stock is currently owned by institutional investors and hedge funds.

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Analyst Upgrades and Downgrades

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

Coupang Trading Down 0.9 %

Coupang stock traded down $0.21 during mid-day trading on Thursday, hitting $23.34. The stock had a trading volume of 3,729,120 shares, compared to its average volume of 8,358,331. The stock has a 50-day simple moving average of $23.34 and a two-hundred day simple moving average of $23.91. The stock has a market capitalization of $42.13 billion, a PE ratio of 40.94, a P/E/G ratio of 52.20 and a beta of 1.10. Coupang, Inc. has a 12 month low of $17.34 and a 12 month high of $26.91. The company has a current ratio of 1.13, a quick ratio of 0.86 and a debt-to-equity ratio of 0.28.

Insider Activity at Coupang

In other Coupang news, VP Pranam Kolari sold 8,459 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $22.98, for a total value of $194,387.82. Following the transaction, the vice president now 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Benjamin Sun sold 250,000 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $23.43, for a total value of $5,857,500.00. Following the completion of the transaction, the director now directly owns 1,719,421 shares in the company, valued at $40,286,034.03. The trade was a 12.69 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 259,234 shares of company stock worth $6,069,015 over the last 90 days. Insiders own 13.60% of the company's stock.

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.