Oaktree Capital Management LP Takes $5.31 Million Position in Coupang, Inc. (NYSE:CPNG)

Oaktree Capital Management LP acquired a new stake in shares of Coupang, Inc. (NYSE:CPNG - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 241,544 shares of the company's stock, valued at approximately $5,309,000.

Other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of Coupang in the 4th quarter worth $404,896,000. Wellington Management Group LLP grew its holdings in Coupang by 43.2% during the third quarter. Wellington Management Group LLP now owns 8,630,058 shares of the company's stock valued at $211,868,000 after purchasing an additional 2,603,046 shares during the period. Coronation Fund Managers Ltd. increased its position in Coupang by 53.3% in the fourth quarter. Coronation Fund Managers Ltd. now owns 7,383,611 shares of the company's stock worth $162,292,000 after buying an additional 2,566,581 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its stake in shares of Coupang by 762.2% in the third quarter. Jacobs Levy Equity Management Inc. now owns 2,798,782 shares of the company's stock worth $68,710,000 after buying an additional 2,474,175 shares during the period. Finally, Ninety One UK Ltd bought a new position in shares of Coupang in the fourth quarter worth about $46,388,000. Institutional investors own 83.72% of the company's stock.

Analyst Upgrades and Downgrades

CPNG has been the subject of several analyst reports. Barclays set a $35.00 target price on shares of Coupang and gave the stock an "overweight" rating in a report on Thursday, February 27th. 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. Mizuho raised their price objective on shares of Coupang from $25.00 to $27.00 and gave the company a "neutral" rating in a research report on Wednesday, February 26th. Finally, Citigroup dropped their target price on shares of Coupang from $31.00 to $28.00 and set a "buy" rating for the company in a report on Wednesday, January 8th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $29.17.

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Insider Buying and Selling at Coupang

In other news, VP Pranam Kolari sold 8,459 shares of the stock in a transaction that occurred 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 completion of the transaction, the vice president now directly owns 136,806 shares in the company, valued at approximately $3,143,801.88. This represents a 5.82 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Benjamin Sun sold 250,000 shares of the business's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $23.43, for a total transaction of $5,857,500.00. Following the completion of the sale, the director now owns 1,719,421 shares in the company, valued at $40,286,034.03. This represents a 12.69 % decrease in their position. The disclosure for this sale can be found here. Insiders own 13.60% of the company's stock.

Coupang Price Performance

CPNG traded down $0.89 during trading on Thursday, hitting $21.60. 4,630,345 shares of the company traded hands, compared to its average volume of 8,004,121. 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 company has a market cap of $39.00 billion, a PE ratio of 37.90, a P/E/G ratio of 52.20 and a beta of 1.10. The stock's 50-day simple moving average is $23.52 and its two-hundred day simple moving average is $23.91. Coupang, Inc. has a 1 year low of $18.16 and a 1 year high of $26.91.

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.