Waterfront Wealth Inc. Purchases 180,374 Shares of Coursera, Inc. $COUR

Key Points

• Waterfront Wealth Inc. nearly doubled its Coursera position in Q1, buying 180,374 shares and raising its stake to 364,339 shares worth about $2.12 million.
• Coursera’s stock is attracting mixed analyst sentiment: several firms reiterated or raised targets, but the overall consensus remains Hold with an average price target of $9.19.
• The company reported mixed quarterly results, with revenue up 9.1% year over year but EPS missing estimates, while Coursera also launched a $500 million stock buyback program.

Waterfront Wealth Inc. increased its holdings in shares of Coursera, Inc. (NYSE:COUR - Free Report) by 98.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 364,339 shares of the company's stock after buying an additional 180,374 shares during the quarter. Waterfront Wealth Inc. owned 0.22% of Coursera worth $2,120,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in Coursera by 15.8% in the fourth quarter. Vanguard Group Inc. now owns 16,116,748 shares of the company's stock valued at $118,619,000 after acquiring an additional 2,195,148 shares during the period. Baillie Gifford & Co. raised its position in shares of Coursera by 97.0% during the fourth quarter. Baillie Gifford & Co. now owns 14,590,942 shares of the company's stock worth $107,389,000 after purchasing an additional 7,184,167 shares during the period. Caledonia Private Investments Pty Ltd raised its position in shares of 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 purchasing an additional 2,739,039 shares during the period. Mak Capital One LLC bought a new position in shares of Coursera during the 4th quarter valued at about $27,610,000. Finally, Geode Capital Management LLC lifted its holdings in shares of 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 purchasing an additional 106,287 shares in the last quarter. 89.55% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Needham & Company LLC reissued a "buy" rating and set a $10.00 target price on shares of Coursera in a research note on Wednesday, June 24th. Morgan Stanley set a $7.50 price objective on shares of Coursera in a research report on Friday, April 24th. BMO Capital Markets raised their price objective on shares of Coursera from $7.00 to $8.00 and gave the stock an "outperform" rating in a report on Monday. Wall Street Zen lowered shares of Coursera from a "buy" rating to a "hold" rating in a research note on Saturday, April 25th. Finally, Weiss Ratings lowered shares of Coursera from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Thursday, May 21st. Eight research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $9.19.

Coursera Trading Down 1.1%

Coursera stock opened at $5.68 on Friday. Coursera, Inc. has a 1-year low of $5.00 and a 1-year high of $13.56. The company has a fifty day simple moving average of $5.57 and a 200 day simple moving average of $6.04. The company has a market cap of $961.63 million, a P/E ratio of -14.94, a price-to-earnings-growth ratio of 1.89 and a beta of 1.23.

Coursera (NYSE:COUR - Get Free Report) last issued its quarterly earnings results on Thursday, April 23rd. The company reported $0.07 EPS for the quarter, missing the consensus estimate of $0.08 by ($0.01). The business had revenue of $195.70 million for the quarter, compared to the consensus estimate of $195.17 million. Coursera had a negative return on equity of 5.41% and a negative net margin of 8.23%.The company's quarterly revenue was up 9.1% compared to the same quarter last year. During the same period last year, the firm earned $0.12 earnings per share. On average, equities research analysts forecast that Coursera, Inc. will post 0.07 EPS for the current 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 repurchase up to 55.9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's management believes its stock is undervalued.

Insider Activity at Coursera

In related news, major shareholder Insight Holdings Group, Llc sold 1,466,372 shares of the stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $5.24, for a total transaction of $7,683,789.28. Following the completion of the transaction, the insider directly owned 419,784 shares of the company's stock, valued at approximately $2,199,668.16. This represents a 77.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Alan B. Cardenas sold 9,139 shares of the firm's stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $5.52, for a total value of $50,447.28. Following the completion of the transaction, the senior vice president owned 255,934 shares of the company's stock, valued at approximately $1,412,755.68. This represents a 3.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 2,009,139 shares of company stock valued at $10,643,180 over the last three months. 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.

Want to see what other hedge funds are holding COUR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Coursera, Inc. (NYSE:COUR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.