Long Walk Management LP acquired a new position in Coupang, Inc. (NYSE:CPNG - Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 950,000 shares of the company's stock, valued at approximately $23,322,000. Coupang makes up 9.7% of Long Walk Management LP's portfolio, making the stock its 5th biggest holding. Long Walk Management LP owned about 0.05% of Coupang as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also made changes to their positions in the stock. Price T Rowe Associates Inc. MD raised its holdings in Coupang by 31.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 78,865,294 shares of the company's stock worth $1,403,015,000 after purchasing an additional 18,894,909 shares during the last quarter. Coronation Fund Managers Ltd. raised its stake in shares of Coupang by 139.1% during the 3rd quarter. Coronation Fund Managers Ltd. now owns 4,817,030 shares of the company's stock worth $118,258,000 after buying an additional 2,802,325 shares during the last quarter. Baillie Gifford & Co. boosted its position in shares of Coupang by 1.6% in the 2nd quarter. Baillie Gifford & Co. now owns 171,350,025 shares of the company's stock worth $3,589,783,000 after buying an additional 2,749,027 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in shares of Coupang by 2,570.0% in the 2nd quarter. Envestnet Asset Management Inc. now owns 2,049,227 shares of the company's stock worth $42,931,000 after buying an additional 1,972,476 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its stake in Coupang by 55.5% in the 2nd quarter. Assenagon Asset Management S.A. now owns 4,524,994 shares of the company's stock valued at $94,799,000 after acquiring an additional 1,615,448 shares during the last quarter. Hedge funds and other institutional investors own 83.72% of the company's stock.
Several analysts have recently commented on the stock. CLSA upgraded shares of Coupang from a "hold" rating to an "outperform" rating and increased their price target for the company from $18.00 to $31.00 in a research report on Wednesday, September 4th. Sanford C. Bernstein upgraded Coupang from an "underperform" rating to an "outperform" rating and set a $30.00 target price on the stock in a report on Monday, October 7th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, Coupang currently has a consensus rating of "Moderate Buy" and a consensus target price of $27.56.
View Our Latest Stock Analysis on CPNG
In other news, Director Greenoaks Capital Partners Llc acquired 251,300 shares of Coupang stock in a transaction dated Tuesday, August 13th. The shares were acquired at an average cost of $22.58 per share, with a total value of $5,674,354.00. Following the purchase, the director now directly owns 50,126,224 shares of the company's stock, valued at approximately $1,131,850,137.92. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Coupang news, Director Greenoaks Capital Partners Llc bought 251,300 shares of Coupang stock in a transaction that occurred on Tuesday, August 13th. The shares were acquired at an average price of $22.58 per share, for a total transaction of $5,674,354.00. Following the acquisition, the director now owns 50,126,224 shares of the company's stock, valued at $1,131,850,137.92. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Benjamin Sun sold 200,000 shares of the company's stock in a transaction 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 sale, the director now directly owns 1,969,421 shares of the company's stock, valued at approximately $46,005,674.56. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders bought 451,300 shares of company stock valued at $10,208,354 and sold 400,956 shares valued at $9,245,164. 13.60% of the stock is owned by company insiders.
CPNG opened at $24.17 on Friday. Coupang, Inc. has a 1 year low of $13.51 and a 1 year high of $26.91. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.87 and a current ratio of 1.12. The company's 50 day simple moving average is $24.68 and its 200 day simple moving average is $22.83. The stock has a market capitalization of $43.35 billion, a PE ratio of 42.40 and a beta of 1.10.
Coupang (NYSE:CPNG - Get Free Report) last announced its quarterly earnings results on Tuesday, November 5th. The company reported $0.06 earnings per share for the quarter, beating analysts' consensus estimates of $0.01 by $0.05. The company had revenue of $7.87 billion for the quarter, compared to analyst estimates of $7.76 billion. Coupang had a net margin of 3.57% and a return on equity of 11.65%. Coupang's revenue for the quarter was up 27.2% on a year-over-year basis. During the same quarter last year, the business earned $0.05 EPS. As a group, sell-side analysts expect that Coupang, Inc. will post -0.03 EPS for the current year.
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.
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