Readystate Asset Management LP Grows Holdings in Coursera, Inc. $COUR

Key Points

• Readystate Asset Management increased its Coursera stake by 259.2% in the second quarter, bringing its holdings to 4.03 million shares worth approximately $22.7 million. 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, exceeding analysts’ expectations of $0.10. The company also authorized a $500 million share-buyback program.
• Coursera shares opened at $5.78, near their 50-day and 200-day moving averages. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $8.55, although some firms recently downgraded or lowered their targets.

Readystate Asset Management LP raised its position in Coursera, Inc. (NYSE:COUR - Free Report) by 259.2% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,027,181 shares of the company's stock after buying an additional 2,906,101 shares during the period. Readystate Asset Management LP owned 1.52% of Coursera worth $22,713,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of COUR. Deutsche Bank AG bought a new stake in Coursera during the second quarter worth $9,848,000. OMERS ADMINISTRATION Corp purchased a new position in shares of Coursera in the 2nd quarter worth about $1,579,000. Great Lakes Advisors LLC purchased a new position in shares of Coursera in the 2nd quarter worth about $3,262,000. 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 valued at $6,670,000 after buying an additional 611,325 shares during the period. Finally, BlackRock Inc. purchased a new stake in Coursera during the second quarter worth about $116,245,000. Hedge funds and other institutional investors own 89.55% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on COUR shares. Weiss Ratings raised shares of Coursera from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Friday, August 28th. Needham & Company LLC reiterated a "buy" rating and issued a $10.00 price objective on shares of Coursera in a research note on Wednesday, June 24th. BMO Capital Markets reissued an "outperform" rating on shares of Coursera in a report on Thursday, July 30th. Zacks Research downgraded Coursera from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 24th. Finally, Bank of America lowered their target price on Coursera from $8.00 to $7.00 and set a "neutral" rating on the stock in a research note on Tuesday, June 30th. Seven investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $8.55.

Coursera Stock Down 0.3%

NYSE COUR opened at $5.78 on Monday. The firm has a market cap of $1.53 billion, a P/E ratio of -8.63, a price-to-earnings-growth ratio of 0.73 and a beta of 1.26. The company's 50 day moving average is $5.80 and its 200-day moving average is $5.80. 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 data on Wednesday, July 29th. The company reported $0.17 earnings per share for the quarter, beating analysts' consensus estimates of $0.10 by $0.07. Coursera had a negative net margin of 15.39% and a negative return on equity of 1.72%. The business had revenue of $298.60 million during the quarter, compared to analyst estimates of $293.61 million. During the same period in the previous year, the business earned $0.12 EPS. Coursera's revenue was up 59.6% compared to the same quarter last year. Equities analysts expect that Coursera, Inc. will post 0.16 EPS for the current year.

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

Insider Activity

In other Coursera 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 transaction of $52,183.69. Following the completion of the transaction, the senior vice president owned 236,237 shares of the company's stock, valued at $1,348,913.27. The trade was a 3.72% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 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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