Key Points
- Coursera major shareholder Insight Holdings Group sold 78,628 shares on May 18 at an average price of $5.69, totaling about $447,393. The sale was disclosed in an SEC filing.
- The company also announced a $500 million share repurchase authorization on the same day, a move that can signal management believes the stock is undervalued.
- Coursera shares were down about 3.2% and recently traded near $5.23, close to their 1-year low of $5.00. The company missed quarterly EPS estimates by $0.01 even though revenue rose 9.1% year over year.
Coursera, Inc. (NYSE:COUR - Get Free Report) major shareholder Insight Holdings Group, Llc sold 78,628 shares of the business's stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $5.69, for a total value of $447,393.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own 10% or more of a company's stock are required to disclose their transactions with the SEC.
Coursera Trading Down 3.2%
NYSE COUR opened at $5.23 on Thursday. Coursera, Inc. has a 1-year low of $5.00 and a 1-year high of $13.56. The stock has a 50-day moving average of $5.87 and a 200-day moving average of $6.70. The firm has a market cap of $884.76 million, a PE ratio of -13.75 and a beta of 1.30.
Coursera (NYSE:COUR - Get Free Report) last released 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). Coursera had a negative net margin of 8.23% and a negative return on equity of 5.41%. The company had revenue of $195.70 million during the quarter, compared to the consensus estimate of $195.17 million. During the same period last year, the firm posted $0.12 EPS. The company's revenue was up 9.1% on a year-over-year basis. As a group, equities research analysts forecast that Coursera, Inc. will post -0.09 earnings per share for the current fiscal year.
Coursera announced that its board has authorized a share repurchase plan on Monday, May 18th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to buy up to 55.9% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's management believes its stock is undervalued.
Analysts Set New Price Targets
A number of research firms have recently weighed in on COUR. JPMorgan Chase & Co. lowered their target price on Coursera from $10.00 to $8.00 and set an "overweight" rating for the company in a research note on Friday, April 24th. BMO Capital Markets reduced their price target on Coursera from $8.00 to $7.00 and set an "outperform" rating on the stock in a report on Monday, April 27th. Morgan Stanley set a $7.50 price target on Coursera in a report on Friday, April 24th. The Goldman Sachs Group reduced their price target on Coursera from $9.00 to $6.00 and set a "sell" rating on the stock in a report on Saturday, February 7th. Finally, Wall Street Zen downgraded Coursera from a "buy" rating to a "hold" rating in a report on Saturday, April 25th. Eight investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $9.50.
Get Our Latest Research Report on COUR
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently made changes to their positions in COUR. Pale Fire Capital SE purchased a new position in shares of Coursera during the 1st quarter worth approximately $61,178,000. Baillie Gifford & Co. lifted its position in Coursera by 97.0% in the 4th quarter. Baillie Gifford & Co. now owns 14,590,942 shares of the company's stock valued at $107,389,000 after acquiring an additional 7,184,167 shares in the last quarter. Mak Capital One LLC bought a new position in Coursera in the 4th quarter valued at approximately $27,610,000. Caledonia Private Investments Pty Ltd lifted its position in Coursera by 29.4% in the 4th quarter. Caledonia Private Investments Pty Ltd now owns 12,052,670 shares of the company's stock valued at $88,708,000 after acquiring an additional 2,739,039 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its position in Coursera by 341.6% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 2,955,723 shares of the company's stock valued at $34,612,000 after acquiring an additional 2,286,395 shares in the last quarter. Hedge funds and other institutional investors own 89.55% of the company's stock.
Coursera Company Profile
(
Get 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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