Lazard Asset Management LLC Decreases Stock Position in Coursera, Inc. $COUR

Lazard Asset Management LLC trimmed its position in shares of Coursera, Inc. (NYSE:COUR) by 95.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,540 shares of the company’s stock after selling 259,223 shares during the period. Lazard Asset Management LLC’s holdings in Coursera were worth $67,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Aster Capital Management DIFC Ltd acquired a new position in Coursera in the 4th quarter worth $25,000. Caitong International Asset Management Co. Ltd grew its stake in shares of Coursera by 224.1% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 4,939 shares of the company’s stock valued at $36,000 after acquiring an additional 3,415 shares in the last quarter. Clearstead Trust LLC purchased a new stake in shares of Coursera during the fourth quarter worth about $39,000. Quarry LP increased its position in shares of Coursera by 619.9% during the third 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 last quarter. Finally, Falcon Wealth Planning acquired a new position in shares of Coursera in the first quarter worth about $60,000. Hedge funds and other institutional investors own 89.55% of the company’s stock.

Coursera Trading Up 4.0%

NYSE:COUR opened at $5.79 on Friday. The stock has a 50 day moving average of $5.60 and a 200-day moving average of $5.82. The firm has a market capitalization of $979.57 million, a PE ratio of -8.63, a price-to-earnings-growth ratio of 1.95 and a beta of 1.24. Coursera, Inc. has a 52 week low of $5.00 and a 52 week high of $12.35.

Coursera (NYSE:COUR) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.07. The business had revenue of $298.60 million for the quarter, compared to the consensus estimate of $293.61 million. Coursera had a negative return on equity of 1.72% and a negative net margin of 15.39%.The business’s revenue was up 59.6% on a year-over-year basis. During the same quarter last year, the business posted $0.12 EPS. As a group, analysts predict that Coursera, Inc. will post 0.06 EPS for the current fiscal year.

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

Insider Buying and Selling at Coursera

In related news, SVP Alan B. Cardenas sold 9,139 shares of the stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $5.52, for a total value of $50,447.28. Following the sale, the senior vice president 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Insight Holdings Group, Llc sold 1,466,372 shares of Coursera stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $5.24, for a total transaction of $7,683,789.28. Following the completion of the sale, the insider owned 419,784 shares in the company, valued at approximately $2,199,668.16. This represents a 77.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 2,009,139 shares of company stock valued at $10,643,180. Corporate insiders own 16.30% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Zacks Research upgraded Coursera from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 24th. KeyCorp reaffirmed an “overweight” rating on shares of Coursera in a research report on Wednesday, June 24th. BMO Capital Markets reiterated an “outperform” rating on shares of Coursera in a research note on Thursday, July 30th. Bank of America decreased their price target on shares of Coursera from $8.00 to $7.00 and set a “neutral” rating for the company in a research report on Tuesday, June 30th. Finally, Wall Street Zen upgraded shares of Coursera from a “hold” rating to a “buy” rating in a research note on Sunday, August 2nd. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $8.55.

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.