Long Walk Management LP Makes New $23.32 Million Investment in Coupang, Inc. (NYSE:CPNG)

Long Walk Management LP bought a new stake in shares of Coupang, Inc. (NYSE:CPNG) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 950,000 shares of the company’s stock, valued at approximately $23,322,000. Coupang makes up about 9.7% of Long Walk Management LP’s portfolio, making the stock its 5th largest position.

A number of other hedge funds and other institutional investors have also modified their holdings of CPNG. Van ECK Associates Corp increased its position in shares of Coupang by 63.1% in the 3rd quarter. Van ECK Associates Corp now owns 1,251 shares of the company’s stock worth $32,000 after purchasing an additional 484 shares during the last quarter. Baader Bank Aktiengesellschaft raised its stake in Coupang by 5.7% during the second quarter. Baader Bank Aktiengesellschaft now owns 10,567 shares of the company’s stock valued at $219,000 after buying an additional 567 shares in the last quarter. Covestor Ltd lifted its holdings in Coupang by 10.4% during the 3rd quarter. Covestor Ltd now owns 6,479 shares of the company’s stock worth $159,000 after buying an additional 612 shares during the last quarter. Resonant Capital Advisors LLC lifted its holdings in Coupang by 6.0% during the 2nd quarter. Resonant Capital Advisors LLC now owns 11,197 shares of the company’s stock worth $235,000 after buying an additional 635 shares during the last quarter. Finally, National Bank of Canada FI grew its position in shares of Coupang by 15.4% in the 2nd quarter. National Bank of Canada FI now owns 6,687 shares of the company’s stock worth $141,000 after acquiring an additional 890 shares in the last quarter. 83.72% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on CPNG shares. CLSA upgraded Coupang from a “hold” rating to an “outperform” rating and raised their price objective for the stock from $18.00 to $31.00 in a research note on Wednesday, September 4th. Sanford C. Bernstein upgraded shares of Coupang from an “underperform” rating to an “outperform” rating and set a $30.00 price target on the stock in a research report on Monday, October 7th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $27.56.

Insider Activity

In related news, Director Greenoaks Capital Partners Llc bought 100,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were acquired at an average cost of $22.39 per share, for a total transaction of $2,239,000.00. Following the acquisition, the director now directly owns 50,376,224 shares of the company’s stock, valued at $1,127,923,655.36. The trade was a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, Director Greenoaks Capital Partners Llc purchased 100,000 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were acquired at an average price of $22.39 per share, for a total transaction of $2,239,000.00. Following the completion of the acquisition, the director now directly owns 50,376,224 shares of the company’s stock, valued at $1,127,923,655.36. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Benjamin Sun sold 200,000 shares of Coupang stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $23.36, for a total transaction of $4,672,000.00. Following the transaction, the director now owns 1,969,421 shares in the company, valued at approximately $46,005,674.56. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders purchased 451,300 shares of company stock worth $10,208,354 and sold 400,956 shares worth $9,245,164. Insiders own 13.60% of the company’s stock.

Coupang Trading Down 3.7 %

NYSE:CPNG opened at $24.17 on Friday. The stock has a market cap of $43.35 billion, a price-to-earnings ratio of 42.40 and a beta of 1.10. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.87 and a current ratio of 1.12. Coupang, Inc. has a 1 year low of $13.51 and a 1 year high of $26.91. The business has a fifty day moving average of $24.68 and a 200-day moving average of $22.83.

Coupang (NYSE:CPNG) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.05. Coupang had a net margin of 3.57% and a return on equity of 11.65%. The company had revenue of $7.87 billion during the quarter, compared to analyst estimates of $7.76 billion. During the same period in the prior year, the business posted $0.05 EPS. The business’s revenue for the quarter was up 27.2% compared to the same quarter last year. Equities analysts predict that Coupang, Inc. will post -0.03 earnings per share for the current year.

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.