Should You Invest in Coupang (CPNG)?

Baron Funds, an investment management company, released its “Baron Fifth Avenue Growth Fund” fourth quarter 2023 investor letter. A copy of the same can be downloaded here. The fund increased 17.6% (Institutional Shares) in the fourth quarter compared to a 14.2% gain for the Russell 1000 Growth Index and an 11.7% increase for the S&P 500 Index. For the full year, the fund appreciated 57.6% compared to 42.7% and 26.3% returns for the indexes, respectively. In addition, please check the fund’s top five holdings to know its best picks in 2023.

Baron Fifth Avenue Growth Fund featured stocks such as Coupang, Inc. (NYSE:CPNG) in the fourth quarter 2023 investor letter. Based in Seattle, Washington, Coupang, Inc. (NYSE:CPNG) owns and operates an e-commerce business. On February 22, 2024, Coupang, Inc. (NYSE:CPNG) stock closed at $16.24 per share. One-month return of Coupang, Inc. (NYSE:CPNG) was 11.85%, and its shares gained 7.69% of their value over the last 52 weeks. Coupang, Inc. (NYSE:CPNG) has a market capitalization of $29.034 billion.

Baron Fifth Avenue Growth Fund stated the following regarding Coupang, Inc. (NYSE:CPNG) in its fourth quarter 2023 investor letter:

“We also took advantage of stock price volatility and slightly added to several existing positions: The Korean e-commerce platform, Coupang, Inc. (NYSE:CPNG), whose stock corrected during the quarter following a miss on EBITDA margins, which we don’t view as structural. The company continues to gain market share while holding significant competitive advantages thanks to its robust delivery network.”

A woman holding a laptop, wearing a graphic t-shirt, casually checking her e-commerce order.

Coupang, Inc. (NYSE:CPNG) is not on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, Coupang, Inc. (NYSE:CPNG) was held by 53 hedge fund portfolios, down from 55 in the previous quarter, according to our database.

We discussed Coupang, Inc. (NYSE:CPNG) in another article and shared the list of fastest growing e-commerce companies in 2024. In addition, please check out our hedge fund investor letters Q4 2023 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.