Coupang, Inc. $CPNG Shares Bought by Long Walk Management LP

Long Walk Management LP grew its stake in shares of Coupang, Inc. (NYSE:CPNG) by 16.4% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 2,935,000 shares of the company’s stock after acquiring an additional 413,375 shares during the quarter. Coupang comprises about 19.1% of Long Walk Management LP’s portfolio, making the stock its biggest holding. Long Walk Management LP owned approximately 0.16% of Coupang worth $94,507,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of CPNG. Orion Capital Management LLC bought a new stake in Coupang during the third quarter worth about $32,000. Hilltop National Bank bought a new stake in shares of Coupang during the 3rd quarter worth approximately $34,000. Fifth Third Bancorp boosted its position in shares of Coupang by 1,250.0% during the 3rd quarter. Fifth Third Bancorp now owns 1,080 shares of the company’s stock worth $35,000 after acquiring an additional 1,000 shares in the last quarter. Root Financial Partners LLC acquired a new stake in shares of Coupang during the 3rd quarter worth approximately $40,000. Finally, Loomis Sayles & Co. L P acquired a new stake in shares of Coupang in the 2nd quarter valued at $45,000. Institutional investors own 83.72% of the company’s stock.

Coupang Trading Down 0.8%

Shares of NYSE CPNG opened at $16.99 on Tuesday. The firm has a 50 day moving average price of $21.55 and a two-hundred day moving average price of $27.02. The stock has a market cap of $31.04 billion, a P/E ratio of 80.91 and a beta of 1.20. Coupang, Inc. has a 52-week low of $16.74 and a 52-week high of $34.08. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.82 and a current ratio of 1.06.

Insider Transactions at Coupang

In other Coupang news, CAO Jonathan D. Lee sold 2,679 shares of Coupang stock in a transaction dated Friday, January 2nd. The stock was 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 approximately $2,883,907.52. The trade was a 2.15% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 12.78% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have recently commented on CPNG. Bank of America boosted their price target on Coupang from $36.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, November 5th. Weiss Ratings restated a “hold (c)” rating on shares of Coupang in a research note on Wednesday, January 21st. Deutsche Bank Aktiengesellschaft raised shares of Coupang from a “hold” rating to a “buy” rating and set a $25.00 price target on the stock in a report on Friday, January 16th. Zacks Research upgraded shares of Coupang from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 4th. Finally, Sanford C. Bernstein began coverage on shares of Coupang in a report on Thursday, February 5th. They set an “underperform” rating and a $17.00 price target for the company. Six analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $29.89.

Coupang 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.