Tiger Cub Chase Coleman is Selling These 5 Tech Stocks

3. Coupang, Inc. (NYSE:CPNG)

Number of Hedge Fund Holders: 29

Coupang, Inc. (NYSE:CPNG) was incorporated in 2010 and is headquartered in Seoul, South Korea. The company runs an e-commerce platform in South Korea, operating via Product Commerce and Growth Initiatives segments. Chase Coleman owned 3.5 million shares of Coupang, Inc. (NYSE:CPNG) in Q4 2021, and he discarded the position entirely in the first quarter of 2022. 

Mizuho analyst James Lee on May 16 lowered the price target on Coupang, Inc. (NYSE:CPNG) to $18 from $28 and kept a Neutral rating on the shares. As per the analyst, Coupang, Inc. (NYSE:CPNG) reported notably lower than projected EBITDA losses owing to its disciplined investment approach in the last quarter. However, the fiscal 2022 EBITDA guidance remained unchanged, given supply chain challenges and inflationary pressure.

The Q4 database of Insider Monkey suggests that 29 hedge funds were bullish on Coupang, Inc. (NYSE:CPNG), down from 45 funds in the preceding quarter. Lee Ainslie’s Maverick Capital is a notable shareholder of the company as of Q1 2022, with 86.3 million shares worth $1.5 billion.