Tiger Global Management LLC Purchases 8,328,148 Shares of Coupang, Inc. $CPNG

Tiger Global Management LLC lifted its position in shares of Coupang, Inc. (NYSE:CPNG) by 31.7% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 34,595,407 shares of the company’s stock after buying an additional 8,328,148 shares during the quarter. Coupang makes up 2.9% of Tiger Global Management LLC’s holdings, making the stock its 12th largest holding. Tiger Global Management LLC owned 1.89% of Coupang worth $653,161,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of CPNG. Sunbelt Securities Inc. purchased a new stake in Coupang in the 3rd quarter worth $26,000. Reflection Asset Management purchased a new position in shares of Coupang in the fourth quarter valued at about $28,000. Webster Bank N. A. boosted its stake in shares of Coupang by 325.8% in the first quarter. Webster Bank N. A. now owns 1,699 shares of the company’s stock worth $32,000 after acquiring an additional 1,300 shares during the period. Main Street Group LTD bought a new position in shares of Coupang in the first quarter worth about $40,000. Finally, Aster Capital Management DIFC Ltd purchased a new stake in shares of Coupang during the fourth quarter worth about $42,000. Institutional investors own 83.72% of the company’s stock.

Analyst Ratings Changes

CPNG has been the topic of several recent analyst reports. Weiss Ratings downgraded Coupang from a “sell (d+)” rating to a “sell (d)” rating in a research note on Thursday, May 7th. Citigroup downgraded Coupang from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $23.00 to $22.20 in a research note on Wednesday, May 6th. Deutsche Bank Aktiengesellschaft lowered shares of Coupang from a “buy” rating to a “hold” rating and set a $23.00 price objective for the company. in a report on Wednesday, May 6th. The Goldman Sachs Group set a $31.00 price objective on shares of Coupang in a research report on Thursday, July 9th. Finally, Bank of America lowered their target price on shares of Coupang from $28.00 to $27.00 and set a “buy” rating on the stock in a report on Wednesday, June 24th. Five analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $26.02.

Coupang Trading Down 0.7%

Shares of CPNG stock opened at $15.52 on Friday. Coupang, Inc. has a 12-month low of $14.92 and a 12-month high of $34.08. The company has a current ratio of 0.97, a quick ratio of 0.76 and a debt-to-equity ratio of 0.16. The stock’s 50-day moving average price is $16.98 and its 200-day moving average price is $18.58. The stock has a market capitalization of $27.85 billion, a price-to-earnings ratio of -172.38 and a beta of 1.11.

Coupang (NYSE:CPNG) last posted 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 return on equity of 3.67% and a negative net margin of 0.47%.The firm had revenue of $8.50 billion during the quarter, compared to analysts’ expectations of $8.48 billion. During the same quarter in the prior year, the firm posted $0.06 earnings per share. Coupang’s quarterly revenue was up 7.5% on a year-over-year basis. Equities research analysts predict that Coupang, Inc. will post -0.33 EPS for the current fiscal year.

Coupang 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.