RDST Capital LLC Has $68.85 Million Stock Holdings in Coupang, Inc. $CPNG

Key Points

• RDST Capital increased its Coupang stake by 69.3% in the first quarter, owning 3.65 million shares valued at approximately $68.85 million, or 0.20% of Coupang.
• Institutional ownership remains high at 83.72%, with several hedge funds adding shares. Analysts are mixed, resulting in an average “Hold” rating and a consensus price target of $26.02.
• Coupang shares opened at $15.44, near the lower end of their 12-month range. The company’s latest quarter showed revenue growth of 7.5% year over year but an EPS loss of $0.15, missing estimates.

RDST Capital LLC increased its stake in shares of Coupang, Inc. (NYSE:CPNG - Free Report) by 69.3% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,646,900 shares of the company's stock after buying an additional 1,492,500 shares during the period. Coupang comprises about 6.6% of RDST Capital LLC's holdings, making the stock its 4th biggest position. RDST Capital LLC owned about 0.20% of Coupang worth $68,853,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC grew its position in shares of Coupang by 72.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,316 shares of the company's stock valued at $99,000 after acquiring an additional 1,395 shares during the period. Baird Financial Group Inc. raised its holdings in shares of Coupang by 52.8% in the 2nd quarter. Baird Financial Group Inc. now owns 23,471 shares of the company's stock worth $703,000 after purchasing an additional 8,107 shares during the period. Cerity Partners LLC lifted its stake in Coupang by 48.1% in the second quarter. Cerity Partners LLC now owns 45,252 shares of the company's stock valued at $1,356,000 after purchasing an additional 14,703 shares during the last quarter. State Street Corp lifted its stake in Coupang by 8.4% in the second quarter. State Street Corp now owns 15,641,775 shares of the company's stock valued at $468,628,000 after purchasing an additional 1,210,801 shares during the last quarter. Finally, AXA S.A. purchased a new position in Coupang in the second quarter valued at approximately $411,000. Institutional investors own 83.72% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on CPNG shares. Barclays reissued an "overweight" rating and issued a $29.00 target price on shares of Coupang in a research report on Tuesday, July 7th. CLSA initiated coverage on Coupang in a research report on Monday, June 15th. They set an "outperform" rating and a $24.00 price target on the stock. Citigroup downgraded Coupang from a "buy" rating to a "neutral" rating and cut their price target for the stock from $23.00 to $22.20 in a research note on Wednesday, May 6th. Deutsche Bank Aktiengesellschaft lowered 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. Finally, Weiss Ratings cut Coupang from a "sell (d+)" rating to a "sell (d)" rating in a research note on Thursday, May 7th. Five investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Coupang has an average rating of "Hold" and an average target price of $26.02.

Coupang Stock Performance

Shares of CPNG stock opened at $15.44 on Wednesday. The firm's 50 day moving average is $16.99 and its 200 day moving average is $18.44. The stock has a market capitalization of $27.71 billion, a P/E ratio of -171.50 and a beta of 1.11. 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.

Coupang (NYSE:CPNG - Get Free Report) last released its quarterly earnings data on Tuesday, May 5th. The company reported ($0.15) earnings per share 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 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. The firm's quarterly revenue was up 7.5% on a year-over-year basis. On average, sell-side analysts anticipate that Coupang, Inc. will post -0.33 earnings per share 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.

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