Coursera (NYSE:COUR) Cut to Hold at Wall Street Zen

Wall Street Zen lowered shares of Coursera (NYSE:COUR) from a buy rating to a hold rating in a report released on Saturday morning.

Other research analysts also recently issued reports about the company. Needham & Company LLC restated a “buy” rating and set a $10.00 price objective on shares of Coursera in a research report on Wednesday, June 24th. Morgan Stanley set a $7.50 price target on Coursera in a report on Friday, April 24th. Telsey Advisory Group decreased their price objective on Coursera from $14.00 to $10.00 and set an “outperform” rating on the stock in a research note on Friday, April 24th. Royal Bank Of Canada reiterated an “outperform” rating and set a $7.00 price objective on shares of Coursera in a research report on Wednesday, June 24th. Finally, Bank of America cut their target price on shares of Coursera from $8.00 to $7.00 and set a “neutral” rating for the company in a research note on Tuesday, June 30th. Seven equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $8.50.

Coursera Trading Up 4.5%

NYSE:COUR opened at $5.61 on Friday. The company has a market capitalization of $950.62 million, a P/E ratio of -14.77, a price-to-earnings-growth ratio of 1.77 and a beta of 1.23. The firm has a 50-day moving average price of $5.52 and a two-hundred day moving average price of $5.89. Coursera has a twelve month low of $5.00 and a twelve month high of $13.56.

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

Insider Buying and Selling

In related news, major shareholder Insight Holdings Group, Llc sold 1,466,372 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $5.24, for a total value of $7,683,789.28. Following the completion of the sale, the insider directly owned 419,784 shares in the company, valued at approximately $2,199,668.16. The trade was a 77.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Alan B. Cardenas sold 9,139 shares of the company’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $5.52, for a total transaction of $50,447.28. Following the transaction, the senior vice president directly owned 255,934 shares of the company’s stock, valued at $1,412,755.68. This trade represents a 3.45% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 2,009,139 shares of company stock valued at $10,643,180. 16.30% of the stock is owned by insiders.

Institutional Trading of Coursera

Institutional investors and hedge funds have recently made changes to their positions in the company. Baillie Gifford & Co. grew its position 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 acquiring an additional 7,184,167 shares during the period. Invenomic Capital Management LP raised its holdings in shares of Coursera by 207.3% in the 4th quarter. Invenomic Capital Management LP now owns 906,224 shares of the company’s stock worth $6,670,000 after purchasing an additional 611,325 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH raised its holdings in shares of Coursera by 58.2% in the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 1,084,567 shares of the company’s stock worth $7,982,000 after purchasing an additional 398,920 shares during the period. Waterfront Wealth Inc. lifted its stake in shares of Coursera by 98.0% in the 1st quarter. Waterfront Wealth Inc. now owns 364,339 shares of the company’s stock valued at $2,120,000 after purchasing an additional 180,374 shares in the last quarter. Finally, OP Asset Management Ltd acquired a new position in shares of Coursera in the 1st quarter valued at about $1,395,000. 89.55% of the stock is currently owned by institutional investors and hedge funds.

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.