Voya Investment Management LLC Buys 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 grew its position in shares of Coupang, Inc. (NYSE:CPNG - Free Report) by 5.2% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund 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 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. Cetera Investment Advisers raised its holdings in Coupang by 2.2% in the fourth quarter. Cetera Investment Advisers now owns 77,458 shares of the company's stock valued at $1,703,000 after buying an additional 1,666 shares during the period. Deutsche Bank AG increased its stake in shares of Coupang by 25.7% in the fourth quarter. Deutsche Bank AG now owns 90,833 shares of the company's stock worth $1,997,000 after buying an additional 18,593 shares during the last quarter. Janus Henderson Group PLC increased its stake in shares of Coupang by 13.8% in the fourth quarter. Janus Henderson Group PLC now owns 39,359 shares of the company's stock worth $865,000 after buying an additional 4,761 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Coupang by 5.0% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 33,696 shares of the company's stock worth $741,000 after purchasing an additional 1,590 shares during the period. Finally, Royal Bank of Canada boosted its holdings in Coupang by 6.7% in the fourth quarter. Royal Bank of Canada now owns 782,270 shares of the company's stock worth $17,194,000 after purchasing an additional 48,866 shares during the period. 83.72% of the stock is owned by institutional investors and hedge funds.

Coupang Trading Down 1.4%

CPNG traded down $0.47 during midday trading on Friday, reaching $32.95. 111,558,696 shares of the company's stock traded hands, compared to its average volume of 12,638,589. Coupang, Inc. has a 52 week low of $19.02 and a 52 week high of $34.08. The firm has a fifty day moving average of $29.94 and a two-hundred day moving average of $26.97. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.09 and a quick ratio of 0.84. The stock has a market capitalization of $60.07 billion, a price-to-earnings ratio of 164.76 and a beta of 1.15.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft downgraded shares of Coupang from a "buy" rating to a "hold" rating and set a $27.00 price target for the company. in a report on Wednesday, August 6th. Wall Street Zen cut Coupang from a "buy" rating to a "hold" rating in a research report on Sunday, July 20th. Arete assumed coverage on Coupang in a report on Thursday. They issued a "buy" rating and a $40.00 price target for the company. Morgan Stanley lifted their price objective on Coupang from $32.00 to $35.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 20th. Finally, Nomura Securities upgraded Coupang to a "strong-buy" rating in a research report on Wednesday, August 6th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Coupang currently has a consensus rating of "Moderate Buy" and an average target price of $33.11.

Insider Buying and Selling at Coupang

In other Coupang news, insider Harold Rogers sold 64,755 shares of the company's stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $32.06, for a total value of $2,076,045.30. Following the sale, the insider directly owned 449,569 shares of the company's stock, valued at approximately $14,413,182.14. This represents a 12.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Benjamin Sun sold 815,797 shares of the stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $31.88, for a total transaction of $26,007,608.36. Following the sale, the director directly owned 503,624 shares in the company, valued at approximately $16,055,533.12. The trade was a 61.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 988,983 shares of company stock valued at $31,203,966. 12.78% of the stock is owned by company insiders.

Coupang Profile

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.