Voya Investment Management LLC Lowers Stake in Coupang, Inc. (NYSE:CPNG)

Voya Investment Management LLC trimmed its stake in Coupang, Inc. (NYSE:CPNG - Free Report) by 15.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 564,179 shares of the company's stock after selling 103,230 shares during the quarter. Voya Investment Management LLC's holdings in Coupang were worth $12,401,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of CPNG. Integrated Wealth Concepts LLC grew its position in Coupang by 473.7% during the 4th quarter. Integrated Wealth Concepts LLC now owns 69,478 shares of the company's stock worth $1,527,000 after acquiring an additional 57,368 shares during the last quarter. Kerrisdale Advisers LLC bought a new position in Coupang during the fourth quarter valued at about $1,790,000. White Oak Capital Partners Pte. Ltd. bought a new stake in shares of Coupang in the fourth quarter valued at $512,000. Pinebridge Investments L.P. lifted its holdings in Coupang by 53.5% during the fourth quarter. Pinebridge Investments L.P. now owns 90,187 shares of the company's stock valued at $1,982,000 after purchasing an additional 31,423 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in Coupang by 29.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 75,686,648 shares of the company's stock valued at $1,663,594,000 after acquiring an additional 17,123,637 shares during the period. Institutional investors and hedge funds own 83.72% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on CPNG shares. Deutsche Bank Aktiengesellschaft upgraded Coupang from a "hold" rating to a "buy" rating and set a $28.50 price objective on the stock in a research report on Wednesday, February 26th. Barclays set a $35.00 price objective on Coupang and gave the stock an "overweight" rating in a report on Thursday, February 27th. Citigroup reduced their target price on Coupang from $31.00 to $28.00 and set a "buy" rating for the company in a report on Wednesday, January 8th. Finally, Mizuho raised shares of Coupang to a "hold" rating in a research report on Friday, April 18th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $29.17.

Coupang Trading Up 2.7 %

CPNG traded up $0.64 on Friday, hitting $24.11. The company had a trading volume of 5,618,806 shares, compared to its average volume of 7,727,666. The company has a current ratio of 1.13, a quick ratio of 0.86 and a debt-to-equity ratio of 0.28. The firm has a market cap of $43.53 billion, a P/E ratio of 42.30, a PEG ratio of 52.20 and a beta of 1.09. The company's fifty day moving average price is $22.49 and its 200 day moving average price is $23.44. Coupang, Inc. has a 1 year low of $18.16 and a 1 year high of $26.91.

Insiders Place Their Bets

In other news, VP Pranam Kolari sold 8,459 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $22.98, for a total value of $194,387.82. Following the completion of the transaction, the vice president now owns 136,806 shares in the company, valued at $3,143,801.88. This trade represents a 5.82 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Benjamin Sun sold 250,000 shares of the company's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $23.43, for a total value of $5,857,500.00. Following the completion of the sale, the director now directly owns 1,719,421 shares in the company, valued at $40,286,034.03. This trade represents a 12.69 % decrease in their position. The disclosure for this sale can be found here. 13.60% of the stock is owned by company insiders.

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.