Voya Investment Management LLC Reduces Holdings in Coupang, Inc. (NYSE:CPNG)

Voya Investment Management LLC trimmed its stake in Coupang, Inc. (NYSE:CPNG) by 15.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 564,179 shares of the company’s stock after selling 103,230 shares during the period. Voya Investment Management LLC’s holdings in Coupang were worth $12,401,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Price T Rowe Associates Inc. MD increased its stake in shares of Coupang by 29.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 75,686,648 shares of the company’s stock worth $1,663,594,000 after acquiring an additional 17,123,637 shares in the last quarter. FMR LLC increased its stake in shares of Coupang by 9.1% in the 4th quarter. FMR LLC now owns 29,619,581 shares of the company’s stock worth $651,038,000 after acquiring an additional 2,465,973 shares in the last quarter. Dodge & Cox increased its stake in shares of Coupang by 0.6% in the 4th quarter. Dodge & Cox now owns 20,229,320 shares of the company’s stock worth $444,640,000 after acquiring an additional 123,900 shares in the last quarter. Norges Bank bought a new position in shares of Coupang in the 4th quarter worth about $404,896,000. Finally, Coronation Fund Managers Ltd. increased its stake in shares of Coupang by 53.3% in the 4th quarter. Coronation Fund Managers Ltd. now owns 7,383,611 shares of the company’s stock worth $162,292,000 after acquiring an additional 2,566,581 shares in the last quarter. 83.72% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, VP Pranam Kolari sold 8,459 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $22.98, for a total value of $194,387.82. Following the transaction, the vice president now directly owns 136,806 shares of the company’s stock, valued at approximately $3,143,801.88. This trade represents a 5.82 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Benjamin Sun sold 250,000 shares of the firm’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $23.43, for a total value of $5,857,500.00. Following the completion of the transaction, the director now directly owns 1,719,421 shares in the company, valued at approximately $40,286,034.03. This represents a 12.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 13.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CPNG. Mizuho upgraded shares of Coupang to a “hold” rating in a research note on Friday, April 18th. Citigroup dropped their target price on shares of Coupang from $31.00 to $28.00 and set a “buy” rating on the stock in a research note on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft raised shares of Coupang from a “hold” rating to a “buy” rating and set a $28.50 price target for the company in a research report on Wednesday, February 26th. Finally, Barclays set a $35.00 price objective on Coupang and gave the company an “overweight” rating in a research report on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $29.17.

Coupang Price Performance

NYSE CPNG opened at $23.42 on Tuesday. The business’s fifty day moving average price is $22.57 and its 200-day moving average price is $23.45. The stock has a market capitalization of $42.28 billion, a price-to-earnings ratio of 41.09, a PEG ratio of 52.20 and a beta of 1.09. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.13 and a quick ratio of 0.86. Coupang, Inc. has a 1-year low of $18.16 and a 1-year high of $26.91.

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.