Voya Investment Management LLC Purchases 29,436 Shares of Coupang, Inc. $CPNG

Key Points

• Voya Investment Management LLC increased its stake in Coupang, Inc. by 5.2% during Q1, acquiring an additional 29,436 shares, bringing its total holdings to 593,615 shares worth approximately $13 million.
• Coupang recently announced earnings that missed analysts' expectations, reporting $0.02 EPS, compared to a consensus estimate of $0.07, despite an increase in revenue to $8.52 billion.
• Insider trading activity has been notable, with CFO Gaurav Anand selling 75,350 shares and a director, Benjamin Sun, selling over 815,797 shares in recent months.

Voya Investment Management LLC lifted its holdings in shares of Coupang, Inc. (NYSE:CPNG - Free Report) by 5.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 593,615 shares of the company's stock after buying an additional 29,436 shares during the quarter. Voya Investment Management LLC's holdings in Coupang were worth $13,018,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. SVB Wealth LLC bought a new position in Coupang in the first quarter valued at approximately $28,000. Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of Coupang in the first quarter valued at $30,000. Grove Bank & Trust acquired a new position in shares of Coupang in the first quarter valued at about $33,000. Brooklyn Investment Group grew its stake in shares of Coupang by 43.1% in the first quarter. Brooklyn Investment Group now owns 1,680 shares of the company's stock valued at $37,000 after acquiring an additional 506 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its position in Coupang by 600.3% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 2,507 shares of the company's stock worth $55,000 after purchasing an additional 2,149 shares during the period. Institutional investors own 83.72% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently commented on CPNG shares. Deutsche Bank Aktiengesellschaft cut shares of Coupang from a "buy" rating to a "hold" rating and set a $27.00 target price for the company. in a report on Wednesday, August 6th. Arete began coverage on shares of Coupang in a research report on Thursday. They issued a "buy" rating and a $40.00 price target for the company. Morgan Stanley lifted their target price on Coupang from $32.00 to $35.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 20th. Arete Research began coverage on Coupang in a research note on Thursday. They issued a "buy" rating and a $40.00 price objective on the stock. Finally, Nomura Securities raised Coupang to a "strong-buy" rating in a report on Wednesday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Coupang presently has an average rating of "Moderate Buy" and an average target price of $33.11.

Insider Buying and Selling

In other news, Director Benjamin Sun sold 815,797 shares of the firm's stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $31.88, for a total value of $26,007,608.36. Following the transaction, the director owned 503,624 shares of the company's stock, valued at $16,055,533.12. This trade represents a 61.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Pedro Franceschi sold 21,428 shares of the firm's stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $32.05, for a total value of $686,767.40. The disclosure for this sale can be found here. Insiders have sold 988,983 shares of company stock valued at $31,203,966 in the last 90 days. Insiders own 12.78% of the company's stock.

Coupang Stock Performance

CPNG stock traded down $0.07 during trading on Thursday, reaching $33.46. The stock had a trading volume of 10,377,978 shares, compared to its average volume of 9,896,742. Coupang, Inc. has a 52 week low of $19.02 and a 52 week high of $34.08. The stock's 50 day moving average is $29.83 and its two-hundred day moving average is $26.84. The company has a current ratio of 1.09, a quick ratio of 0.84 and a debt-to-equity ratio of 0.18. The firm has a market cap of $61.00 billion, a PE ratio of 167.31 and a beta of 1.15.

Coupang (NYSE:CPNG - Get Free Report) last posted its earnings results on Tuesday, August 5th. The company reported $0.02 earnings per share for the quarter, missing analysts' consensus estimates of $0.07 by ($0.05). Coupang had a net margin of 1.13% and a return on equity of 7.47%. The firm had revenue of $8.52 billion during the quarter, compared to the consensus estimate of $8.34 billion. During the same period in the prior year, the company posted $0.07 EPS. The firm's revenue was up 16.4% compared to the same quarter last year. As a group, equities analysts anticipate that Coupang, Inc. will post 0.17 earnings per share for the current year.

About Coupang

Coupang, Inc, together with its subsidiaries owns and operates retail business through its mobile applications and Internet websites primarily in South Korea. The company operates through Product Commerce and Developing Offerings segments. It sells various products and services in the categories of home goods and décor products, apparel, beauty products, fresh food and groceries, sporting goods, electronics, and everyday consumables, as well as travel, and restaurant order and delivery services.