Readystate Asset Management LP Purchases New Holdings in Coursera, Inc. $COUR

Readystate Asset Management LP acquired a new position in shares of Coursera, Inc. (NYSE:COUR) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,121,080 shares of the company’s stock, valued at approximately $6,525,000. Readystate Asset Management LP owned approximately 0.66% of Coursera at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Baillie Gifford & Co. increased its position in shares of 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 in the last quarter. Invenomic Capital Management LP increased 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 in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH raised its stake in shares of Coursera by 58.2% in the fourth 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 last quarter. Waterfront Wealth Inc. raised its stake in shares of Coursera by 98.0% in the first 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 during the last quarter. Finally, OP Asset Management Ltd bought a new position in shares of Coursera during the first quarter valued at $1,395,000. 89.55% of the stock is owned by institutional investors.

Insider Transactions at Coursera

In other Coursera news, major shareholder Insight Holdings Group, Llc sold 1,466,372 shares of the stock in a transaction dated 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 transaction, the insider owned 419,784 shares of the company’s stock, valued at approximately $2,199,668.16. This represents a 77.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Alan B. Cardenas sold 9,139 shares of the firm’s stock in a transaction dated Monday, May 18th. The stock was 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 directly owned 255,934 shares in the company, valued at $1,412,755.68. The trade was a 3.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 2,009,139 shares of company stock worth $10,643,180. 16.30% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on COUR shares. Needham & Company LLC reiterated a “buy” rating and issued a $10.00 price objective on shares of Coursera in a report on Wednesday, June 24th. Royal Bank Of Canada restated an “outperform” rating and set a $7.00 target price on shares of Coursera in a research note on Wednesday, June 24th. JPMorgan Chase & Co. dropped their price target on shares of Coursera from $10.00 to $8.00 and set an “overweight” rating on the stock in a report on Friday, April 24th. KeyCorp reiterated an “overweight” rating on shares of Coursera in a research note on Wednesday, June 24th. Finally, Wall Street Zen cut shares of Coursera from a “buy” rating to a “hold” rating in a report on Saturday. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $8.50.

Coursera Price Performance

COUR stock opened at $5.84 on Wednesday. Coursera, Inc. has a 1 year low of $5.00 and a 1 year high of $12.93. The company has a market cap of $988.55 million, a P/E ratio of -15.36, a price-to-earnings-growth ratio of 2.27 and a beta of 1.23. The stock’s fifty day moving average price is $5.53 and its 200-day moving average price is $5.88.

Coursera announced that its Board of Directors has approved a share buyback plan on Monday, May 18th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to purchase up to 55.9% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.

Coursera 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.