Coursera (NYSE:COUR) Stock Price Up 8.3% - What's Next?

Key Points

• Coursera shares jumped 8.3% to about $6.34, with the stock trading above its 50-day and 200-day moving averages. The company has a $1.06 billion market capitalization and a beta of 1.23.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $8.50, despite some target-price reductions and a recent downgrade to “hold.”
• Coursera authorized a $500 million stock buyback, potentially repurchasing up to 55.9% of shares, while insiders sold more than 2 million shares worth $10.6 million over the last quarter.

Coursera, Inc. (NYSE:COUR - Get Free Report) shares shot up 8.3% on Wednesday . The company traded as high as $6.22 and last traded at $6.3350. Approximately 5,344,659 shares traded hands during mid-day trading, a decline of 9% from the average daily volume of 5,869,623 shares. The stock had previously closed at $5.85.

Wall Street Analysts Forecast Growth

COUR has been the subject of several research analyst reports. Wall Street Zen lowered shares of Coursera from a "buy" rating to a "hold" rating in a research note on Saturday. KeyCorp reiterated an "overweight" rating on shares of Coursera in a research note on Wednesday, June 24th. Telsey Advisory Group reduced their price objective on Coursera from $14.00 to $10.00 and set an "outperform" rating for the company in a report on Friday, April 24th. Morgan Stanley set a $7.50 target price on Coursera in a research report on Friday, April 24th. Finally, Needham & Company LLC restated a "buy" rating and issued a $10.00 target price on shares of Coursera in a research note on Wednesday, June 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 assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $8.50.

Coursera Stock Up 6.7%

The firm's 50-day moving average price is $5.53 and its 200-day moving average price is $5.88. The company has a market cap of $1.06 billion, a P/E ratio of -16.44, a price-to-earnings-growth ratio of 2.27 and a beta of 1.23.

Coursera declared that its board has approved a stock buyback program on Monday, May 18th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to purchase up to 55.9% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's management believes its shares are undervalued.

Insider Buying and Selling

In other news, SVP Alan B. Cardenas sold 9,139 shares of the firm's stock in a transaction on 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 of the company's stock, valued at $1,412,755.68. This trade represents a 3.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Insight Holdings Group, Llc sold 1,466,372 shares of Coursera stock in a transaction 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 transaction, the insider owned 419,784 shares of the company's stock, valued at approximately $2,199,668.16. This trade represents a 77.74% 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 owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in COUR. Royal Bank of Canada increased its position in shares of Coursera by 38.8% during the first quarter. Royal Bank of Canada now owns 55,891 shares of the company's stock valued at $372,000 after buying an additional 15,610 shares during the period. AQR Capital Management LLC increased its holdings in Coursera by 36.8% during the 1st quarter. AQR Capital Management LLC now owns 581,879 shares of the company's stock worth $3,875,000 after acquiring an additional 156,566 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Coursera by 2.8% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 104,795 shares of the company's stock worth $698,000 after acquiring an additional 2,847 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in Coursera in the 1st quarter worth approximately $273,000. Finally, American Century Companies Inc. lifted its stake in Coursera by 29.0% in the 2nd quarter. American Century Companies Inc. now owns 277,568 shares of the company's stock worth $2,431,000 after purchasing an additional 62,371 shares in the last quarter. Institutional investors own 89.55% of the company's stock.

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.

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