Coursera (NYSE:COUR) Shares Down 5.3% - Here's What Happened

Coursera, Inc. (NYSE:COUR - Get Free Report) shares dropped 5.3% during trading on Thursday . The company traded as low as $8.43 and last traded at $8.37. Approximately 1,695,098 shares changed hands during mid-day trading, a decline of 21% from the average daily volume of 2,143,747 shares. The stock had previously closed at $8.83.

Analysts Set New Price Targets

COUR has been the topic of a number of recent analyst reports. Morgan Stanley reiterated an "equal weight" rating and set a $11.00 price target (up previously from $10.00) on shares of Coursera in a research report on Thursday, June 5th. Bank of America reiterated an "underperform" rating and set a $7.00 price target on shares of Coursera in a research report on Thursday, March 27th. Needham & Company LLC reissued a "buy" rating and set a $11.00 target price on shares of Coursera in a report on Friday, April 25th. Telsey Advisory Group reissued an "outperform" rating and set a $12.00 target price on shares of Coursera in a report on Tuesday, April 22nd. Finally, JPMorgan Chase & Co. reduced their target price on Coursera from $8.00 to $7.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $9.40.

Coursera Price Performance

The stock has a market cap of $1.30 billion, a price-to-earnings ratio of -18.77 and a beta of 1.36. The firm has a fifty day moving average of $8.67 and a 200 day moving average of $8.09.

Coursera (NYSE:COUR - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The company reported $0.12 EPS for the quarter, beating the consensus estimate of $0.08 by $0.04. Coursera had a negative return on equity of 7.22% and a negative net margin of 9.37%. The firm had revenue of $179.30 million during the quarter, compared to analysts' expectations of $175.60 million. During the same quarter last year, the firm earned $0.07 earnings per share. The business's revenue for the quarter was up 6.0% on a year-over-year basis. Research analysts anticipate that Coursera, Inc. will post -0.28 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Coursera news, Director Sabrina Simmons sold 9,335 shares of the firm's stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $8.48, for a total transaction of $79,160.80. Following the completion of the sale, the director owned 50,215 shares of the company's stock, valued at $425,823.20. This trade represents a 15.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Alan B. Cardenas sold 6,101 shares of the firm's stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $8.65, for a total value of $52,773.65. Following the sale, the senior vice president directly owned 293,368 shares of the company's stock, valued at approximately $2,537,633.20. This trade represents a 2.04% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 24,770 shares of company stock valued at $211,087 over the last quarter. 16.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Coursera

Several hedge funds and other institutional investors have recently added to or reduced their stakes in COUR. Quarry LP increased its stake in Coursera by 1,848.6% during the first quarter. Quarry LP now owns 4,131 shares of the company's stock worth $28,000 after acquiring an additional 3,919 shares during the last quarter. State of Wyoming boosted its position in shares of Coursera by 959.1% during the fourth quarter. State of Wyoming now owns 3,887 shares of the company's stock worth $33,000 after buying an additional 3,520 shares during the period. Pale Fire Capital SE purchased a new position in shares of Coursera during the first quarter worth $67,000. Xponance Inc. purchased a new position in shares of Coursera during the first quarter worth $69,000. Finally, Pallas Capital Advisors LLC purchased a new position in shares of Coursera during the first quarter worth $71,000. Institutional investors and hedge funds own 89.55% of the company's stock.

About Coursera

Coursera, Inc operates an online educational content platform in the United States, Europe, Africa, the Asia Pacific, the Middle East, and internationally. It operates in three segments: Consumer, Enterprise, and Degrees. The company offers guided projects, courses, and specializations, as well as online degrees; and certificates for entry-level professional, non-entry level professional, university, and MasterTrack.