Coupang, Inc. $CPNG Shares Purchased by Altimeter Capital Management LP

Altimeter Capital Management LP boosted its position in Coupang, Inc. (NYSE:CPNG) by 56.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,676,794 shares of the company’s stock after purchasing an additional 5,652,210 shares during the period. Coupang comprises approximately 5.6% of Altimeter Capital Management LP’s holdings, making the stock its 8th largest position. Altimeter Capital Management LP’s holdings in Coupang were worth $369,816,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of Coupang by 3.3% during the 4th quarter. Vanguard Group Inc. now owns 29,547,637 shares of the company’s stock valued at $697,029,000 after acquiring an additional 951,812 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its position in shares of Coupang by 112.5% during the 3rd quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 218,000 shares of the company’s stock valued at $7,020,000 after acquiring an additional 115,426 shares during the period. Ethic Inc. lifted its position in shares of Coupang by 383.2% during the 4th quarter. Ethic Inc. now owns 126,154 shares of the company’s stock valued at $2,976,000 after acquiring an additional 100,047 shares during the period. William Blair Investment Management LLC lifted its position in shares of Coupang by 114.6% during the 3rd quarter. William Blair Investment Management LLC now owns 2,205,332 shares of the company’s stock valued at $71,012,000 after acquiring an additional 1,177,875 shares during the period. Finally, Gavilan Investment Partners LLC lifted its position in shares of Coupang by 9.5% during the 3rd quarter. Gavilan Investment Partners LLC now owns 1,265,000 shares of the company’s stock valued at $40,733,000 after acquiring an additional 110,000 shares during the period. Institutional investors and hedge funds own 83.72% of the company’s stock.

Analysts Set New Price Targets

CPNG has been the subject of a number of research reports. Barclays lifted their price target on shares of Coupang from $24.00 to $30.00 and gave the company an “overweight” rating in a research report on Thursday, April 23rd. UBS Group set a $25.00 price target on shares of Coupang in a research report on Thursday, February 19th. Nomura dropped their price objective on shares of Coupang from $22.00 to $20.00 and set a “neutral” rating for the company in a research note on Monday, March 2nd. Weiss Ratings cut shares of Coupang from a “sell (d+)” rating to a “sell (d)” rating in a research note on Thursday, May 7th. Finally, Citigroup cut shares of Coupang from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $23.00 to $22.20 in a research note on Wednesday, May 6th. Five equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $26.65.

Coupang Stock Up 4.6%

CPNG stock opened at $18.87 on Thursday. The stock has a market capitalization of $33.87 billion, a P/E ratio of -209.60 and a beta of 1.12. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.76 and a current ratio of 0.97. Coupang, Inc. has a one year low of $14.92 and a one year high of $34.08. The company has a 50 day moving average price of $17.95 and a two-hundred day moving average price of $19.91.

Coupang (NYSE:CPNG) last released its earnings results on Tuesday, May 5th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate 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 period in the previous year, the firm posted $0.06 earnings per share. The firm’s revenue was up 7.5% on a year-over-year basis. As a group, sell-side analysts expect that Coupang, Inc. will post -0.17 EPS for the current year.

About Coupang

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.