Coursera, Inc. $COUR Shares Sold by Bank of America Corp DE

Key Points

• Bank of America cut its Coursera stake by 47.9% during the first quarter, selling 199,602 shares and retaining 217,011 shares worth approximately $1.26 million.
• Institutional investors own 89.55% of Coursera, with Vanguard and Caledonia Private Investments increasing their holdings while several other funds initiated new positions.
• Coursera reported quarterly earnings and revenue above analyst expectations, while analysts maintain a “Moderate Buy” consensus with an average price target of $8.55. The company has also authorized a $500 million share-repurchase program.

Bank of America Corp DE lessened its stake in shares of Coursera, Inc. (NYSE:COUR - Free Report) by 47.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 217,011 shares of the company's stock after selling 199,602 shares during the quarter. Bank of America Corp DE owned about 0.13% of Coursera worth $1,263,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in Coursera by 15.8% during the fourth quarter. Vanguard Group Inc. now owns 16,116,748 shares of the company's stock valued at $118,619,000 after buying an additional 2,195,148 shares during the period. Caledonia Private Investments Pty Ltd lifted its holdings in Coursera by 29.4% during the fourth quarter. Caledonia Private Investments Pty Ltd now owns 12,052,670 shares of the company's stock worth $88,708,000 after buying an additional 2,739,039 shares during the period. Pale Fire Capital SE purchased a new stake in Coursera during the first quarter worth $61,178,000. Mak Capital One LLC bought a new stake in Coursera during the 4th quarter valued at $27,610,000. Finally, Geode Capital Management LLC boosted its position in Coursera by 3.3% during the 4th quarter. Geode Capital Management LLC now owns 3,359,248 shares of the company's stock valued at $24,729,000 after acquiring an additional 106,287 shares in the last quarter. Institutional investors and hedge funds own 89.55% of the company's stock.

Insider Activity

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

Analysts Set New Price Targets

COUR has been the topic of a number of analyst reports. Needham & Company LLC reaffirmed a "buy" rating and issued a $10.00 price objective on shares of Coursera in a research report on Wednesday, June 24th. KeyCorp reissued an "overweight" rating on shares of Coursera in a research report on Wednesday, June 24th. BMO Capital Markets restated an "outperform" rating on shares of Coursera in a research note on Thursday, July 30th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $7.00 price target on shares of Coursera in a report on Wednesday, June 24th. Finally, Wall Street Zen downgraded Coursera from a "buy" rating to a "hold" rating in a research report on Saturday, August 29th. Seven analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $8.55.

Coursera Trading Down 3.8%

Shares of Coursera stock opened at $5.78 on Friday. The stock's fifty day simple moving average is $5.80 and its 200 day simple moving average is $5.80. The company has a market capitalization of $1.53 billion, a PE ratio of -8.63, a PEG ratio of 0.76 and a beta of 1.26. Coursera, Inc. has a 12 month low of $5.00 and a 12 month high of $12.32.

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

Coursera announced that its Board of Directors has initiated a share buyback plan on Monday, May 18th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 55.9% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's board believes its shares are undervalued.

Coursera 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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