Key Points
- Insight Holdings Group sold 455,000 shares of Coursera at an average price of $5.41, totaling about $2.46 million, and reduced its ownership by roughly 50.8%.
- The insider also sold additional Coursera shares in nearby trades on May 18 and May 20, bringing the recent selling activity to more than 2 million shares across the three transactions.
- Coursera recently announced a $500 million share repurchase program, even as the company posted mixed quarterly results with EPS of $0.07, slightly below estimates, and revenue that rose 9.1% year over year.
Coursera, Inc. (NYSE:COUR - Get Free Report) major shareholder Insight Holdings Group, Llc sold 455,000 shares of Coursera stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $5.41, for a total transaction of $2,461,550.00. Following the transaction, the insider directly owned 441,439 shares in the company, valued at approximately $2,388,184.99. This trade represents a 50.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Large shareholders that own at least 10% of a company's stock are required to disclose their transactions with the SEC.
Insight Holdings Group, Llc also recently made the following trade(s):
- On Wednesday, May 20th, Insight Holdings Group, Llc sold 1,466,372 shares of Coursera stock. The shares were sold at an average price of $5.24, for a total transaction of $7,683,789.28.
- On Monday, May 18th, Insight Holdings Group, Llc sold 78,628 shares of Coursera stock. The shares were sold at an average price of $5.69, for a total transaction of $447,393.32.
Coursera Stock Up 8.3%
COUR opened at $5.84 on Tuesday. The firm has a market capitalization of $988.04 million, a P/E ratio of -15.35 and a beta of 1.25. The firm's 50 day moving average is $5.77 and its 200-day moving average is $6.54. Coursera, Inc. has a 52-week low of $5.00 and a 52-week high of $13.56.
Coursera (NYSE:COUR - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $195.70 million for the quarter, compared to analysts' expectations of $195.17 million. Coursera had a negative net margin of 8.23% and a negative return on equity of 5.41%. The company's revenue for the quarter was up 9.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.12 EPS. Equities analysts expect that Coursera, Inc. will post -0.09 earnings per share for the current fiscal year.
Coursera announced that its board has initiated a share repurchase plan on Monday, May 18th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 55.9% of its stock through open market purchases. Stock buyback plans are typically a sign that the company's leadership believes its stock is undervalued.
Institutional Trading of Coursera
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in Coursera by 2.6% during the third quarter. Vanguard Group Inc. now owns 13,921,600 shares of the company's stock valued at $163,022,000 after purchasing an additional 357,264 shares during the last quarter. Baillie Gifford & Co. increased its stake in Coursera by 97.0% during the fourth quarter. Baillie Gifford & Co. now owns 14,590,942 shares of the company's stock valued at $107,389,000 after purchasing an additional 7,184,167 shares during the last quarter. Cannell & Spears LLC bought a new stake in Coursera during the third quarter valued at $6,576,000. Universal Beteiligungs und Servicegesellschaft mbH increased its stake in Coursera by 58.2% during the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 1,084,567 shares of the company's stock valued at $7,982,000 after purchasing an additional 398,920 shares during the last quarter. Finally, Algert Global LLC increased its stake in Coursera by 40.1% during the third quarter. Algert Global LLC now owns 1,161,981 shares of the company's stock valued at $13,607,000 after purchasing an additional 332,409 shares during the last quarter. Institutional investors own 89.55% of the company's stock.
Wall Street Analyst Weigh In
A number of analysts have recently issued reports on the stock. Royal Bank Of Canada dropped their price objective on shares of Coursera from $8.00 to $7.00 and set an "outperform" rating on the stock in a research note on Friday, April 24th. Morgan Stanley set a $7.50 price objective on shares of Coursera in a research note on Friday, April 24th. Telsey Advisory Group dropped their price objective on shares of Coursera from $14.00 to $10.00 and set an "outperform" rating on the stock in a research note on Friday, April 24th. JPMorgan Chase & Co. dropped their price objective on shares of Coursera from $10.00 to $8.00 and set an "overweight" rating on the stock in a research note on Friday, April 24th. Finally, Wall Street Zen lowered shares of Coursera from a "buy" rating to a "hold" rating in a research note on Saturday, April 25th. Eight investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $9.50.
Read Our Latest Research Report on COUR
About Coursera
(
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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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