Long Walk Management LP Acquires 413,375 Shares of Coupang, Inc. $CPNG

Long Walk Management LP raised its holdings in Coupang, Inc. (NYSE:CPNG) by 16.4% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 2,935,000 shares of the company’s stock after acquiring an additional 413,375 shares during the quarter. Coupang accounts for 19.1% of Long Walk Management LP’s investment portfolio, making the stock its biggest holding. Long Walk Management LP’s holdings in Coupang were worth $94,507,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of CPNG. Vanguard Group Inc. increased its stake in shares of Coupang by 343.5% in the 3rd quarter. Vanguard Group Inc. now owns 28,595,825 shares of the company’s stock valued at $920,786,000 after acquiring an additional 22,147,432 shares in the last quarter. Norges Bank bought a new stake in Coupang in the second quarter valued at $587,186,000. Eminence Capital LP acquired a new position in shares of Coupang during the second quarter valued at about $204,840,000. Dodge & Cox boosted its position in shares of Coupang by 14.3% during the 2nd quarter. Dodge & Cox now owns 46,614,520 shares of the company’s stock worth $1,396,571,000 after purchasing an additional 5,829,600 shares in the last quarter. Finally, Marshall Wace LLP grew its stake in shares of Coupang by 115.9% in the 2nd quarter. Marshall Wace LLP now owns 6,360,239 shares of the company’s stock valued at $190,553,000 after buying an additional 3,414,359 shares during the period. Institutional investors and hedge funds own 83.72% of the company’s stock.

Insider Activity

In related news, CAO Jonathan D. Lee sold 2,679 shares of the firm’s stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $23.62, for a total transaction of $63,277.98. Following the transaction, the chief accounting officer directly owned 122,096 shares of the company’s stock, valued at $2,883,907.52. This trade represents a 2.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 12.78% of the stock is currently owned by insiders.

Coupang Trading Down 0.8%

Shares of Coupang stock opened at $16.99 on Tuesday. The company has a market capitalization of $31.04 billion, a P/E ratio of 80.91 and a beta of 1.20. The stock has a fifty day simple moving average of $21.55 and a 200 day simple moving average of $27.02. Coupang, Inc. has a 12-month low of $16.74 and a 12-month high of $34.08. The company has a current ratio of 1.06, a quick ratio of 0.82 and a debt-to-equity ratio of 0.13.

Analyst Ratings Changes

A number of research firms recently weighed in on CPNG. Citigroup dropped their price target on Coupang from $27.00 to $24.00 and set a “buy” rating on the stock in a research note on Tuesday, February 10th. Nomura downgraded Coupang from a “buy” rating to a “neutral” rating and set a $22.00 price objective for the company. in a report on Monday, January 12th. Bank of America increased their target price on Coupang from $36.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, November 5th. Zacks Research upgraded shares of Coupang from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 4th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Coupang in a report on Wednesday, January 21st. Six research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $29.89.

Coupang Company Profile

Coupang, listed on the New York Stock Exchange under the ticker CPNG, is a South Korean e-commerce company headquartered in Seoul. Founded in 2010 by Bom Kim, the company grew rapidly by combining an online marketplace with a large direct-retail business model. Coupang completed a primary listing in the United States in 2021, and it has become one of South Korea’s leading online retailers by focusing on convenience, speed and a wide product assortment across consumer categories.

The company operates a vertically integrated e-commerce platform that includes a customer-facing marketplace and an extensive logistics and fulfillment network.