Quantedge Capital Pte Ltd Decreases Stock Position in Coursera, Inc. $COUR

Quantedge Capital Pte Ltd trimmed its holdings in Coursera, Inc. (NYSE:COUR) by 54.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 256,900 shares of the company’s stock after selling 309,900 shares during the period. Coursera accounts for about 0.8% of Quantedge Capital Pte Ltd’s investment portfolio, making the stock its 26th largest position. Quantedge Capital Pte Ltd owned about 0.15% of Coursera worth $1,495,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Swiss National Bank raised its position in Coursera by 3.0% during the first quarter. Swiss National Bank now owns 282,400 shares of the company’s stock worth $1,644,000 after acquiring an additional 8,100 shares during the last quarter. Principal Financial Group Inc. grew its position in shares of Coursera by 273.9% in the first quarter. Principal Financial Group Inc. now owns 331,500 shares of the company’s stock valued at $1,929,000 after purchasing an additional 242,850 shares during the last quarter. Chicago Partners Investment Group LLC acquired a new stake in shares of Coursera in the first quarter valued at approximately $76,000. Waterfront Wealth Inc. increased its stake in shares of Coursera by 98.0% during the 1st quarter. Waterfront Wealth Inc. now owns 364,339 shares of the company’s stock worth $2,120,000 after purchasing an additional 180,374 shares in the last quarter. Finally, Inspire Investing LLC increased its stake in shares of Coursera by 13.5% during the 1st quarter. Inspire Investing LLC now owns 87,187 shares of the company’s stock worth $507,000 after purchasing an additional 10,363 shares in the last quarter. 89.55% of the stock is currently owned by hedge funds and other institutional investors.

Coursera Price Performance

Shares of NYSE COUR opened at $5.34 on Wednesday. The company has a 50-day simple moving average of $5.51 and a 200-day simple moving average of $5.94. The company has a market cap of $905.08 million, a PE ratio of -14.07, a price-to-earnings-growth ratio of 1.80 and a beta of 1.23. Coursera, Inc. has a 12 month low of $5.00 and a 12 month high of $13.56.

Coursera (NYSE:COUR) last announced its quarterly earnings data on Thursday, April 23rd. The company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $195.70 million for the quarter, compared to analysts’ expectations of $195.17 million. During the same period in the previous year, the company posted $0.12 EPS. The business’s quarterly revenue was up 9.1% on a year-over-year basis. On average, analysts anticipate that Coursera, Inc. will post 0.07 EPS for the current year.

Coursera announced that its board has approved a stock repurchase plan on Monday, May 18th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to reacquire up to 55.9% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

Several brokerages recently issued reports on COUR. 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. BMO Capital Markets increased their target price on Coursera from $7.00 to $8.00 and gave the company an “outperform” rating in a report on Monday, July 6th. Wall Street Zen raised Coursera from a “hold” rating to a “buy” rating in a research report on Sunday, July 12th. JPMorgan Chase & Co. cut their price target on Coursera from $10.00 to $8.00 and set an “overweight” rating for the company in a report on Friday, April 24th. Finally, Weiss Ratings downgraded Coursera from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, May 21st. Eight research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Coursera presently has a consensus rating of “Hold” and an average price target of $9.19.

Insider Buying and Selling at Coursera

In other news, major shareholder Insight Holdings Group, Llc sold 1,466,372 shares of Coursera stock in a transaction 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 completion of 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Alan B. Cardenas sold 9,139 shares of the company’s stock in a transaction 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 completion of the transaction, the senior vice president owned 255,934 shares of the company’s stock, valued at $1,412,755.68. The trade was a 3.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 2,009,139 shares of company stock valued at $10,643,180 over the last quarter. 16.30% of the stock is currently owned by insiders.

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.