Tiger Global Management LLC Grows Stock Holdings in Coupang, Inc. $CPNG

Tiger Global Management LLC raised its holdings in shares of Coupang, Inc. (NYSE:CPNG) by 31.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 34,595,407 shares of the company’s stock after purchasing an additional 8,328,148 shares during the quarter. Coupang accounts for about 2.9% of Tiger Global Management LLC’s portfolio, making the stock its 12th largest position. Tiger Global Management LLC’s holdings in Coupang were worth $653,161,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. grew its position in Coupang by 3.3% in the fourth quarter. Vanguard Group Inc. now owns 29,547,637 shares of the company’s stock worth $697,029,000 after acquiring an additional 951,812 shares in the last quarter. Ethic Inc. raised its position in Coupang by 383.2% during the fourth quarter. Ethic Inc. now owns 126,154 shares of the company’s stock valued at $2,976,000 after purchasing an additional 100,047 shares during the period. Geode Capital Management LLC raised its position in Coupang by 7.5% during the fourth quarter. Geode Capital Management LLC now owns 24,327,724 shares of the company’s stock valued at $574,068,000 after purchasing an additional 1,689,293 shares during the period. M&T Bank Corp raised its position in Coupang by 22.7% during the fourth quarter. M&T Bank Corp now owns 318,971 shares of the company’s stock valued at $7,525,000 after purchasing an additional 59,013 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its stake in shares of Coupang by 8.2% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 12,132,629 shares of the company’s stock valued at $286,209,000 after purchasing an additional 917,487 shares during the last quarter. 83.72% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Bank of America dropped their target price on Coupang from $28.00 to $27.00 and set a “buy” rating for the company in a report on Wednesday, June 24th. Weiss Ratings lowered Coupang from a “sell (d+)” rating to a “sell (d)” rating in a report on Thursday, May 7th. Deutsche Bank Aktiengesellschaft downgraded Coupang from a “buy” rating to a “hold” rating and set a $23.00 price target for the company. in a research report on Wednesday, May 6th. The Goldman Sachs Group set a $31.00 price objective on shares of Coupang in a research note on Thursday, July 9th. Finally, Citigroup cut shares of Coupang from a “buy” rating to a “neutral” rating and cut their price objective for the company from $23.00 to $22.20 in a research report on Wednesday, May 6th. Five investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Coupang has a consensus rating of “Hold” and a consensus target price of $26.02.

Coupang Stock Down 0.7%

Shares of NYSE:CPNG opened at $15.52 on Friday. Coupang, Inc. has a 1 year low of $14.92 and a 1 year high of $34.08. The business has a 50 day simple moving average of $16.98 and a two-hundred day simple moving average of $18.58. The firm has a market capitalization of $27.85 billion, a PE ratio of -172.38 and a beta of 1.11. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.97 and a quick ratio of 0.76.

Coupang (NYSE:CPNG) last released its earnings results on Tuesday, May 5th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.06). Coupang had a negative net margin of 0.47% and a negative return on equity of 3.67%. The business had revenue of $8.50 billion for the quarter, compared to the consensus estimate of $8.48 billion. During the same period in the prior year, the company posted $0.06 EPS. The company’s quarterly revenue was up 7.5% compared to the same quarter last year. On average, equities analysts predict that Coupang, Inc. will post -0.33 EPS for the current year.

Coupang Company 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.