Readystate Asset Management LP Grows Position in Coursera, Inc. $COUR

Readystate Asset Management LP grew its holdings in shares of Coursera, Inc. (NYSE:COUR – Free Report) by 259.2% in the second quarter, HoldingsChannel.com reports. The fund owned 4,027,181 shares of the company’s stock after purchasing an additional 2,906,101 shares during the period. Readystate Asset Management LP’s holdings in Coursera were worth $22,713,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of COUR. BlackRock Inc. purchased a new position in Coursera in the second quarter worth $116,245,000. Caledonia Private Investments Pty Ltd purchased a new position in Coursera in the 2nd quarter worth $114,918,000. Pale Fire Capital SE bought a new stake in Coursera in the first quarter worth $61,178,000. Mak Capital One LLC purchased a new stake in Coursera during the fourth quarter valued at about $27,610,000. Finally, Arrowstreet Capital Limited Partnership grew its stake in shares of Coursera by 341.6% during the third quarter. Arrowstreet Capital Limited Partnership now owns 2,955,723 shares of the company’s stock valued at $34,612,000 after buying an additional 2,286,395 shares during the last quarter. 89.55% of the stock is currently owned by institutional investors.

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Insider Buying and Selling

In other Coursera news, SVP Alan Cardenas sold 9,139 shares of the company’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $5.71, for a total transaction of $52,183.69. Following the transaction, the senior vice president owned 236,237 shares in the company, valued at approximately $1,348,913.27. This represents a 3.72% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 16.30% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on COUR. Royal Bank Of Canada restated an “outperform” rating and set a $7.00 price target on shares of Coursera in a research report on Wednesday, June 24th. Wall Street Zen downgraded shares of Coursera from a “buy” rating to a “hold” rating in a research note on Saturday, August 29th. Weiss Ratings upgraded shares of Coursera from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, August 28th. The Goldman Sachs Group raised shares of Coursera from a “sell” rating to a “neutral” rating and increased their price target for the company from $5.50 to $6.50 in a research report on Monday, August 3rd. Finally, Needham & Company LLC reissued a “buy” rating and issued a $10.00 price target on shares of Coursera in a report on Wednesday, June 24th. Seven equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Coursera has an average rating of “Moderate Buy” and an average price target of $8.55.

Read Our Latest Analysis on Coursera

Coursera Stock Down 0.3%

NYSE:COUR opened at $5.78 on Monday. The firm’s fifty day simple moving average is $5.80 and its 200 day simple moving average is $5.80. The stock has a market cap of $1.53 billion, a P/E ratio of -8.63, a price-to-earnings-growth ratio of 0.73 and a beta of 1.26. Coursera, Inc. has a twelve month low of $5.00 and a twelve month high of $12.32.

Coursera (NYSE:COUR – Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.10 by $0.07. Coursera had a negative net margin of 15.39% and a negative return on equity of 1.72%. The business had revenue of $298.60 million during the quarter, compared to analyst estimates of $293.61 million. During the same period in the prior year, the business earned $0.12 EPS. The company’s revenue for the quarter was up 59.6% on a year-over-year basis. On average, analysts expect that Coursera, Inc. will post 0.16 EPS for the current fiscal year.

Coursera announced that its board has approved a stock repurchase program on Monday, May 18th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the company to buy up to 55.9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.

Coursera Profile

(Free Report)

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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