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

Oaktree Capital Management LP acquired a new position in Coupang, Inc. (NYSE:CPNG) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & 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 have also recently bought and sold shares of the business. Level Four Advisory Services LLC bought a new stake in shares of Coupang during the 4th quarter worth $264,000. Norges Bank purchased a new stake in Coupang during the fourth quarter worth about $404,896,000. Anthracite Investment Company Inc. bought a new stake in Coupang in the fourth quarter worth about $2,143,000. Banco BTG Pactual S.A. purchased a new position in Coupang in the fourth quarter valued at about $401,000. Finally, Congress Wealth Management LLC DE grew its position in shares of Coupang by 97.7% during the 4th quarter. Congress Wealth Management LLC DE now owns 49,698 shares of the company’s stock valued at $1,092,000 after acquiring an additional 24,554 shares during the period. Institutional investors own 83.72% of the company’s stock.

Insider Buying and Selling

In other Coupang news, VP Pranam Kolari sold 8,459 shares of the business’s 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 completion of the transaction, the vice president now owns 136,806 shares of the company’s stock, valued at $3,143,801.88. The trade was a 5.82 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Benjamin Sun sold 250,000 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $23.43, for a total transaction of $5,857,500.00. Following the completion of the transaction, the director now directly owns 1,719,421 shares in the company, valued at $40,286,034.03. The trade was a 12.69 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 259,234 shares of company stock valued at $6,069,015. Company insiders own 13.60% of the company’s stock.

Coupang Trading Down 5.1 %

Shares of CPNG opened at $22.32 on Friday. The business’s 50-day moving average price is $23.52 and its 200-day moving average price is $23.95. The company has a quick ratio of 0.86, a current ratio of 1.13 and a debt-to-equity ratio of 0.28. Coupang, Inc. has a twelve month low of $17.67 and a twelve month high of $26.91. The stock has a market cap of $40.29 billion, a PE ratio of 39.15, a P/E/G ratio of 52.20 and a beta of 1.10.

Analysts Set New Price Targets

CPNG has been the topic of several research analyst reports. 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. Barclays set a $35.00 price target on Coupang and gave the company an “overweight” rating in a research report on Thursday, February 27th. Deutsche Bank Aktiengesellschaft raised Coupang from a “hold” rating to a “buy” rating and set a $28.50 price objective for the company in a report on Wednesday, February 26th. Finally, Mizuho increased their target price on shares of Coupang from $25.00 to $27.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 26th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average 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.