1,121,080 Shares in Coursera, Inc. $COUR Bought by Readystate Asset Management LP

Readystate Asset Management LP bought a new stake in shares of Coursera, Inc. (NYSE:COUR) during the 1st quarter, Holdings Channel reports. The firm bought 1,121,080 shares of the company’s stock, valued at approximately $6,525,000.

Several other hedge funds have also bought and sold shares of COUR. Aster Capital Management DIFC Ltd purchased a new position in shares of Coursera during the 4th quarter valued at about $25,000. Caitong International Asset Management Co. Ltd increased its holdings in Coursera by 224.1% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 4,939 shares of the company’s stock worth $36,000 after acquiring an additional 3,415 shares in the last quarter. Clearstead Trust LLC purchased a new stake in Coursera in the 4th quarter worth approximately $39,000. Quarry LP raised its stake in Coursera by 619.9% during the 3rd quarter. Quarry LP now owns 4,024 shares of the company’s stock worth $47,000 after acquiring an additional 3,465 shares during the period. Finally, Falcon Wealth Planning bought a new stake in Coursera during the 1st quarter worth approximately $60,000. Institutional investors own 89.55% of the company’s stock.

Coursera Stock Up 3.7%

COUR opened at $5.84 on Wednesday. The company has a market capitalization of $988.55 million, a PE ratio of -15.36, a price-to-earnings-growth ratio of 2.27 and a beta of 1.23. The firm has a 50-day simple moving average of $5.53 and a two-hundred day simple moving average of $5.88. Coursera, Inc. has a 52 week low of $5.00 and a 52 week high of $12.93.

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

Insider Transactions at Coursera

In other Coursera news, major shareholder Insight Holdings Group, Llc sold 1,466,372 shares of Coursera stock in a transaction that occurred on 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. The trade was a 77.74% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Alan B. Cardenas sold 9,139 shares of the stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $5.52, for a total value of $50,447.28. Following 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 SEC filing for this sale provides additional information. Insiders sold 2,009,139 shares of company stock worth $10,643,180 over the last quarter. 16.30% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $7.00 target price on shares of Coursera in a report on Wednesday, June 24th. Telsey Advisory Group cut their target price on Coursera from $14.00 to $10.00 and set an “outperform” rating for the company in a research report on Friday, April 24th. Wall Street Zen downgraded Coursera from a “buy” rating to a “hold” rating in a research note on Saturday. Weiss Ratings downgraded Coursera from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, May 21st. Finally, Morgan Stanley set a $7.50 price objective on shares of Coursera in a report on Friday, April 24th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $8.50.

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.