Bank of New York Mellon Corp Invests $4.83 Million in Coursera, Inc. $COUR

Key Points

• Bank of New York Mellon acquired 855,979 Coursera shares worth approximately $4.83 million during the second quarter, representing a 0.51% stake. Institutional investors collectively own 89.55% of the company.
• Coursera reported quarterly revenue of $298.6 million, up 59.6% year over year, and earnings of $0.17 per share, beating analysts’ estimates. The company also authorized a $500 million share buyback, potentially covering up to 55.9% of outstanding shares.
• Analysts maintain a generally positive outlook, with Coursera receiving a “Moderate Buy” consensus rating and an average price target of $8.55 versus a recent share price of $5.78.

Bank of New York Mellon Corp acquired a new stake in Coursera, Inc. (NYSE:COUR - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 855,979 shares of the company's stock, valued at approximately $4,828,000. Bank of New York Mellon Corp owned 0.51% of Coursera at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of COUR. Invenomic Capital Management LP grew its position in Coursera by 207.3% during the fourth quarter. Invenomic Capital Management LP now owns 906,224 shares of the company's stock worth $6,670,000 after buying an additional 611,325 shares in the last quarter. Quantinno Capital Management LP increased its stake in Coursera by 731.5% in the first quarter. Quantinno Capital Management LP now owns 485,452 shares of the company's stock valued at $2,825,000 after purchasing an additional 427,068 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Coursera by 273.9% in the first quarter. Principal Financial Group Inc. now owns 331,500 shares of the company's stock worth $1,929,000 after purchasing an additional 242,850 shares during the last quarter. Waterfront Wealth Inc. increased its position in shares of Coursera by 98.0% during the first quarter. Waterfront Wealth Inc. now owns 364,339 shares of the company's stock valued at $2,120,000 after acquiring an additional 180,374 shares during the last quarter. Finally, Pale Fire Capital SE purchased a new stake in shares of Coursera during the 1st quarter worth approximately $61,178,000. 89.55% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, SVP Alan Cardenas sold 9,139 shares of the stock in a transaction 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 sale, the senior vice president directly owned 236,237 shares in the company, valued at approximately $1,348,913.27. This represents a 3.72% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 16.30% of the company's stock.

Coursera Price Performance

Shares of COUR opened at $5.78 on Friday. Coursera, Inc. has a 1-year low of $5.00 and a 1-year high of $12.32. The firm has a 50 day simple moving average of $5.80 and a 200-day simple moving average of $5.80. The stock has a market cap of $1.53 billion, a price-to-earnings ratio of -8.63, a price-to-earnings-growth ratio of 0.76 and a beta of 1.26.

Coursera (NYSE:COUR - Get Free Report) last announced its earnings results on Wednesday, July 29th. The company reported $0.17 EPS for the quarter, beating analysts' consensus estimates of $0.10 by $0.07. The firm had revenue of $298.60 million for the quarter, compared to analysts' expectations of $293.61 million. Coursera had a negative return on equity of 1.72% and a negative net margin of 15.39%.Coursera's quarterly revenue was up 59.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.12 EPS. On average, equities analysts expect that Coursera, Inc. will post 0.16 earnings per share for the current fiscal year.

Coursera announced that its board has initiated a stock buyback program on Monday, May 18th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to buy up to 55.9% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. BMO Capital Markets restated an "outperform" rating on shares of Coursera in a research report on Thursday, July 30th. The Goldman Sachs Group upgraded shares of Coursera from a "sell" rating to a "neutral" rating and boosted their price target for the stock from $5.50 to $6.50 in a research note on Monday, August 3rd. Royal Bank Of Canada reiterated an "outperform" rating and issued a $7.00 target price on shares of Coursera in a report on Wednesday, June 24th. Zacks Research cut Coursera from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 24th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $10.00 price objective on shares of Coursera in a report on Wednesday, June 24th. Seven research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Coursera currently has an average 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.

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