588,317 Shares in Coursera, Inc. $COUR Bought by Empowered Funds LLC

Key Points

• Empowered Funds LLC acquired 588,317 Coursera shares worth approximately $3.3 million, representing about 0.22% of the company. Institutional investors collectively own 89.55% of Coursera.
• Coursera reported quarterly earnings of $0.17 per share, exceeding the $0.10 estimate, while revenue rose 59.6% year over year to $298.6 million. The company also authorized a $500 million share-repurchase program.
• Shares opened at $6.18 after falling 5.2%; analysts maintain a “Moderate Buy” consensus with an average price target of $8.55, versus the stock’s 12-month range of $5.00 to $12.32.

Empowered Funds LLC purchased a new stake in Coursera, Inc. (NYSE:COUR - Free Report) during the second quarter, according to its most recent filing with the SEC. The fund purchased 588,317 shares of the company's stock, valued at approximately $3,318,000. Empowered Funds LLC owned about 0.22% of Coursera as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of COUR. Coastal Bridge Advisors LLC bought a new position in shares of Coursera during the 2nd quarter valued at about $74,000. Corient Private Wealth LP bought a new stake in shares of Coursera in the second quarter worth about $863,000. Bank of America Corp DE bought a new stake in shares of Coursera in the second quarter worth about $7,887,000. Freestone Grove Partners LP purchased a new stake in shares of Coursera in the second quarter worth about $151,000. Finally, Jupiter Topco LLC purchased a new stake in shares of Coursera in the second quarter worth about $499,000. 89.55% of the stock is currently owned by institutional investors.

Coursera Trading Down 5.2%

Shares of NYSE:COUR opened at $6.18 on Wednesday. The company has a market cap of $1.63 billion, a price-to-earnings ratio of -9.22, a PEG ratio of 0.82 and a beta of 1.26. Coursera, Inc. has a 12 month low of $5.00 and a 12 month high of $12.32. The company has a 50-day moving average price of $5.79 and a 200 day moving average price of $5.80.

Coursera (NYSE:COUR - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.07. Coursera had a negative return on equity of 1.72% and a negative net margin of 15.39%.The company had revenue of $298.60 million for the quarter, compared to analysts' expectations of $293.61 million. During the same period in the previous year, the firm posted $0.12 earnings per share. The firm's revenue for the quarter was up 59.6% on a year-over-year basis. As a group, equities analysts forecast that Coursera, Inc. will post 0.16 EPS for the current year.

Coursera announced that its Board of Directors has initiated a share repurchase program on Monday, May 18th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 55.9% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's leadership believes its shares are undervalued.

Analysts Set New Price Targets

COUR has been the subject of several research analyst reports. The Goldman Sachs Group upgraded Coursera from a "sell" rating to a "neutral" rating and raised their price target for the company from $5.50 to $6.50 in a report on Monday, August 3rd. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $7.00 price objective on shares of Coursera in a report on Wednesday, June 24th. Bank of America lowered their target price on Coursera from $8.00 to $7.00 and set a "neutral" rating for the company in a research report on Tuesday, June 30th. Wall Street Zen lowered shares of Coursera from a "buy" rating to a "hold" rating in a report on Saturday. Finally, Weiss Ratings upgraded shares of Coursera from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Friday. Seven equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Coursera presently has an average rating of "Moderate Buy" and an average price target of $8.55.

Insider Activity at Coursera

In other news, SVP Alan B. Cardenas sold 9,139 shares of Coursera stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $5.71, for a total value of $52,183.69. Following the completion of the transaction, the senior vice president owned 236,237 shares in the company, valued at approximately $1,348,913.27. The trade was a 3.72% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 16.30% of the company's stock.

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.

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