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

Oaktree Capital Management LP acquired a new position in shares of Coupang, Inc. (NYSE:CPNG) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 241,544 shares of the company’s stock, valued at approximately $5,309,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Level Four Advisory Services LLC bought a new stake in shares of Coupang during the fourth quarter worth about $264,000. Norges Bank bought a new stake in Coupang during the 4th quarter worth approximately $404,896,000. Anthracite Investment Company Inc. acquired a new position in Coupang in the 4th quarter valued at approximately $2,143,000. Banco BTG Pactual S.A. bought a new position in Coupang during the 4th quarter worth $401,000. Finally, Congress Wealth Management LLC DE lifted its holdings in Coupang by 97.7% during the 4th quarter. Congress Wealth Management LLC DE now owns 49,698 shares of the company’s stock worth $1,092,000 after buying an additional 24,554 shares during the period. Institutional investors and hedge funds own 83.72% of the company’s stock.

Coupang Stock Down 5.1 %

Shares of NYSE:CPNG opened at $22.32 on Friday. The firm has a market cap of $40.29 billion, a P/E ratio of 39.15, a PEG ratio of 52.20 and a beta of 1.10. Coupang, Inc. has a 52-week low of $17.67 and a 52-week high of $26.91. The business’s 50 day simple moving average is $23.52 and its two-hundred day simple moving average is $23.95. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.86 and a current ratio of 1.13.

Insider Buying and Selling

In other news, Director Benjamin Sun sold 250,000 shares of the stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $23.43, for a total value of $5,857,500.00. Following the completion of the sale, the director now directly owns 1,719,421 shares of the company’s stock, valued at $40,286,034.03. This represents a 12.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Pranam Kolari sold 8,459 shares of Coupang stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $22.98, for a total value of $194,387.82. Following the transaction, the vice president now directly owns 136,806 shares in the company, valued at approximately $3,143,801.88. The trade was a 5.82 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 259,234 shares of company stock worth $6,069,015 in the last ninety days. Corporate insiders own 13.60% of the company’s stock.

Analyst Upgrades and Downgrades

CPNG has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft raised shares of Coupang from a “hold” rating to a “buy” rating and set a $28.50 price objective on the stock in a research note on Wednesday, February 26th. Mizuho increased their price target on Coupang from $25.00 to $27.00 and gave the stock a “neutral” rating in a report on Wednesday, February 26th. Citigroup dropped their price objective on Coupang from $31.00 to $28.00 and set a “buy” rating on the stock in a research note on Wednesday, January 8th. Finally, Barclays set a $35.00 target price on Coupang and gave the stock an “overweight” rating in a research note on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $29.17.

Coupang Company 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.