OP Asset Management Ltd bought a new stake in shares of Coursera, Inc. (NYSE:COUR – Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 239,773 shares of the company’s stock, valued at approximately $1,395,000.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Baillie Gifford & Co. boosted its stake in shares of Coursera by 97.0% during the 4th quarter. Baillie Gifford & Co. now owns 14,590,942 shares of the company’s stock worth $107,389,000 after acquiring an additional 7,184,167 shares during the last quarter. Mak Capital One LLC purchased a new stake in shares of Coursera in the 4th quarter worth $27,610,000. Caledonia Private Investments Pty Ltd increased its stake in shares of Coursera by 29.4% in the 4th quarter. Caledonia Private Investments Pty Ltd now owns 12,052,670 shares of the company’s stock worth $88,708,000 after purchasing an additional 2,739,039 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in Coursera by 341.6% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 2,955,723 shares of the company’s stock worth $34,612,000 after purchasing an additional 2,286,395 shares during the period. Finally, Vanguard Group Inc. raised its holdings in Coursera by 15.8% in the 4th quarter. Vanguard Group Inc. now owns 16,116,748 shares of the company’s stock worth $118,619,000 after purchasing an additional 2,195,148 shares during the period. 89.55% of the stock is owned by hedge funds and other institutional investors.
Insider Transactions at Coursera
In other news, SVP Alan B. Cardenas sold 9,139 shares of the company’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $5.52, for a total value of $50,447.28. Following the completion of the transaction, the senior vice president owned 255,934 shares of the company’s stock, valued at $1,412,755.68. This represents a 3.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Insight Holdings Group, Llc sold 1,466,372 shares of the stock in a transaction dated 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 sale, the insider owned 419,784 shares of the company’s stock, valued at $2,199,668.16. This represents a 77.74% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 2,009,139 shares of company stock valued at $10,643,180. Corporate insiders own 16.30% of the company’s stock.
Coursera Stock Performance
Coursera (NYSE:COUR – Get Free Report) last issued its quarterly earnings results on Thursday, April 23rd. The company reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.01). The business had revenue of $195.70 million during the quarter, compared to analysts’ expectations of $195.17 million. Coursera had a negative return on equity of 5.41% and a negative net margin of 8.23%.The company’s quarterly revenue was up 9.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.12 EPS. On average, equities research analysts predict that Coursera, Inc. will post 0.11 earnings per share for the current year.
Coursera announced that its board has initiated a stock repurchase plan on Monday, May 18th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 55.9% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its stock is undervalued.
Wall Street Analyst Weigh In
Several research firms recently weighed in on COUR. Weiss Ratings downgraded Coursera from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, May 21st. BMO Capital Markets decreased their price objective on Coursera from $8.00 to $7.00 and set an “outperform” rating on the stock in a research note on Monday, April 27th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $7.00 price objective on shares of Coursera in a research report on Wednesday, June 24th. JPMorgan Chase & Co. cut their price objective on Coursera from $10.00 to $8.00 and set an “overweight” rating for the company in a research note on Friday, April 24th. Finally, Morgan Stanley set a $7.50 target price on shares of Coursera in a report on Friday, April 24th. Eight equities 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 stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $9.50.
Get Our Latest Analysis on COUR
Coursera Company Profile
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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