Shares of Coursera, Inc. (NYSE:COUR – Get Free Report) shot up 7.9% during trading on Wednesday . The stock traded as high as $5.98 and last traded at $5.8360. Approximately 2,297,332 shares changed hands during mid-day trading, a decline of 60% from the average session volume of 5,694,227 shares. The stock had previously closed at $5.41.
Analyst Ratings Changes
COUR has been the subject of a number of recent analyst reports. Weiss Ratings downgraded shares of Coursera from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, May 21st. Morgan Stanley set a $7.50 price objective on shares of Coursera in a research report on Friday, April 24th. Royal Bank Of Canada restated an “outperform” rating and set a $7.00 target price on shares of Coursera in a research note on Wednesday. KeyCorp reaffirmed an “overweight” rating on shares of Coursera in a report on Wednesday. Finally, BMO Capital Markets decreased their price target on Coursera from $8.00 to $7.00 and set an “outperform” rating on the stock in a research note on Monday, April 27th. Eight research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $9.50.
Check Out Our Latest Stock Report on Coursera
Coursera Trading Up 11.0%
Coursera (NYSE:COUR – Get Free Report) last issued its earnings results on Thursday, April 23rd. The company reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.01). The company had revenue of $195.70 million during the quarter, compared to analyst estimates of $195.17 million. Coursera had a negative net margin of 8.23% and a negative return on equity of 5.41%. The business’s quarterly revenue was up 9.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.12 EPS. On average, equities research analysts anticipate that Coursera, Inc. will post -0.09 EPS for the current fiscal year.
Coursera declared that its Board of Directors has approved a stock buyback program on Monday, May 18th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 55.9% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.
Insider Activity
In other news, SVP Alan B. Cardenas sold 9,139 shares of the firm’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $5.52, for a total transaction of $50,447.28. Following the completion of the transaction, the senior vice president directly owned 255,934 shares in the company, valued at $1,412,755.68. This trade represents a 3.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Insight Holdings Group, Llc sold 1,466,372 shares of Coursera stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $5.24, for a total value of $7,683,789.28. Following the completion of the transaction, the insider directly owned 419,784 shares in the company, valued at approximately $2,199,668.16. This represents a 77.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 2,009,139 shares of company stock valued at $10,643,180. Insiders own 16.30% of the company’s stock.
Institutional Investors Weigh In On Coursera
Several institutional investors and hedge funds have recently made changes to their positions in COUR. Aster Capital Management DIFC Ltd bought a new position in shares of Coursera during the 4th quarter worth approximately $25,000. Optiver Holding B.V. bought a new stake in shares of Coursera in the 1st quarter valued at $31,000. Caitong International Asset Management Co. Ltd lifted its position in shares of Coursera by 224.1% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 4,939 shares of the company’s stock valued at $36,000 after acquiring an additional 3,415 shares during the period. Clearstead Trust LLC acquired a new position in shares of Coursera during the 4th quarter valued at $39,000. Finally, Quarry LP boosted its stake in Coursera by 619.9% during the third quarter. Quarry LP now owns 4,024 shares of the company’s stock worth $47,000 after acquiring an additional 3,465 shares in the last quarter. Institutional investors own 89.55% of the company’s stock.
About Coursera
Coursera, Inc (NYSE:COUR) operates a leading online learning platform that delivers courses, specializations, professional certificates and fully accredited degree programs in collaboration with top universities and industry partners. Founded in 2012 by Stanford University professors Andrew Ng and Daphne Koller, Coursera’s mission is to provide universal access to world-class education and bridge skill gaps in a rapidly evolving job market.
The platform features more than 6,000 offerings created by over 275 academic institutions and corporate entities, spanning fields such as data science, business, technology, health care and the arts.
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