Altimeter Capital Management LP Acquires 5,652,210 Shares of Coupang, Inc. $CPNG

Altimeter Capital Management LP grew its position in shares of Coupang, Inc. (NYSE:CPNG) by 56.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,676,794 shares of the company’s stock after purchasing an additional 5,652,210 shares during the period. Coupang makes up about 5.6% of Altimeter Capital Management LP’s holdings, making the stock its 8th largest holding. Altimeter Capital Management LP owned about 0.86% of Coupang worth $369,816,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Sunbelt Securities Inc. acquired a new position in Coupang during the third quarter worth $26,000. Fifth Third Bancorp lifted its stake in Coupang by 1,250.0% during the third quarter. Fifth Third Bancorp now owns 1,080 shares of the company’s stock worth $35,000 after purchasing an additional 1,000 shares in the last quarter. Aster Capital Management DIFC Ltd acquired a new position in Coupang during the fourth quarter worth $42,000. EFG International AG acquired a new position in Coupang during the fourth quarter worth $44,000. Finally, Colonial Trust Advisors acquired a new position in Coupang during the third quarter worth $48,000. 83.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CPNG has been the topic of a number of research reports. Nomura decreased their price target on Coupang from $22.00 to $20.00 and set a “neutral” rating on the stock in a research note on Monday, March 2nd. Mizuho decreased their price target on Coupang from $32.00 to $25.00 and set a “neutral” rating on the stock in a research note on Friday, February 27th. Deutsche Bank Aktiengesellschaft cut Coupang from a “buy” rating to a “hold” rating and set a $23.00 price target on the stock. in a research note on Wednesday, May 6th. CLSA began coverage on Coupang in a research note on Monday. They issued an “outperform” rating and a $24.00 price objective on the stock. Finally, Morgan Stanley reduced their price objective on Coupang from $31.00 to $29.00 and set an “overweight” rating on the stock in a research note on Monday, March 2nd. Five analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $26.65.

Coupang Stock Performance

NYSE:CPNG opened at $18.87 on Thursday. The firm has a market capitalization of $33.87 billion, a PE ratio of -209.60 and a beta of 1.12. The business’s fifty day moving average price is $17.95 and its 200 day moving average price is $19.91. 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, Inc. has a 12 month low of $14.92 and a 12 month high of $34.08.

Coupang (NYSE:CPNG) last issued its quarterly earnings data on Tuesday, May 5th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.06). The firm had revenue of $8.50 billion for the quarter, compared to analysts’ expectations of $8.48 billion. Coupang had a negative return on equity of 3.67% and a negative net margin of 0.47%.The business’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.06 EPS. On average, sell-side analysts anticipate that Coupang, Inc. will post -0.17 earnings per share for the current fiscal 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.