RDST Capital LLC increased its position in Coupang, Inc. (NYSE:CPNG – Free Report) by 69.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,646,900 shares of the company’s stock after acquiring an additional 1,492,500 shares during the quarter. Coupang comprises about 6.6% of RDST Capital LLC’s holdings, making the stock its 4th biggest holding. RDST Capital LLC’s holdings in Coupang were worth $68,853,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Empowered Funds LLC bought a new stake in Coupang during the 1st quarter worth approximately $405,000. Quantinno Capital Management LP boosted its holdings in Coupang by 40.6% in the 1st quarter. Quantinno Capital Management LP now owns 730,966 shares of the company’s stock valued at $13,801,000 after purchasing an additional 211,260 shares during the period. Tiger Global Management LLC grew its position in shares of Coupang by 31.7% during the 1st quarter. Tiger Global Management LLC now owns 34,595,407 shares of the company’s stock valued at $653,161,000 after purchasing an additional 8,328,148 shares in the last quarter. Lombard Odier Asset Management USA Corp purchased a new position in shares of Coupang during the 1st quarter valued at $258,000. Finally, Archon Partners LLC bought a new position in shares of Coupang in the first quarter worth $4,154,000. Hedge funds and other institutional investors own 83.72% of the company’s stock.
Coupang Stock Performance
Coupang stock opened at $15.44 on Wednesday. Coupang, Inc. has a fifty-two week low of $14.92 and a fifty-two week high of $34.08. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.76 and a current ratio of 0.97. The stock has a market cap of $27.71 billion, a P/E ratio of -171.50 and a beta of 1.11. The firm’s fifty day moving average price is $16.99 and its 200-day moving average price is $18.44.
Analyst Ratings Changes
CPNG has been the topic of a number of recent analyst reports. The Goldman Sachs Group set a $31.00 price objective on Coupang in a research report on Thursday, July 9th. Deutsche Bank Aktiengesellschaft cut Coupang from a “buy” rating to a “hold” rating and set a $23.00 target price for the company. in a research report on Wednesday, May 6th. Weiss Ratings cut Coupang from a “sell (d+)” rating to a “sell (d)” rating in a report on Thursday, May 7th. Citigroup cut Coupang from a “buy” rating to a “neutral” rating and lowered their price target for the company from $23.00 to $22.20 in a report on Wednesday, May 6th. Finally, CLSA began coverage on Coupang in a report on Monday, June 15th. They set an “outperform” rating and a $24.00 price objective for the company. Five investment 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. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $26.02.
Read Our Latest Report on CPNG
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.
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