Coursera (NYSE:COUR) Trading Up 7.5% – Here’s Why

Coursera, Inc. (NYSE:COUR) shares were up 7.5% during mid-day trading on Wednesday . The company traded as high as $8.35 and last traded at $8.35. Approximately 1,376,193 shares traded hands during trading, a decline of 40% from the average daily volume of 2,295,121 shares. The stock had previously closed at $7.77.

Analysts Set New Price Targets

A number of analysts have issued reports on COUR shares. The Goldman Sachs Group reduced their price target on shares of Coursera from $9.00 to $7.25 and set a “sell” rating on the stock in a report on Friday, October 25th. Royal Bank of Canada decreased their target price on Coursera from $18.00 to $10.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. Telsey Advisory Group restated an “outperform” rating and set a $18.00 price target on shares of Coursera in a report on Monday, October 21st. KeyCorp decreased their price objective on Coursera from $12.00 to $11.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. Finally, JPMorgan Chase & Co. began coverage on shares of Coursera in a report on Monday. They issued a “neutral” rating and a $8.00 target price for the company. One research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $10.66.

Coursera Stock Up 5.5 %

The stock has a market capitalization of $1.30 billion, a PE ratio of -16.08 and a beta of 1.44. The stock’s 50 day moving average price is $7.46 and its 200-day moving average price is $7.62.

Insider Buying and Selling

In other Coursera news, Director Andrew Y. Ng sold 6,221 shares of the business’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $8.03, for a total value of $49,954.63. Following the completion of the transaction, the director now directly owns 7,297,671 shares in the company, valued at approximately $58,600,298.13. The trade was a 0.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Alan B. Cardenas sold 6,102 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $6.83, for a total transaction of $41,676.66. Following the completion of the transaction, the senior vice president now owns 194,082 shares of the company’s stock, valued at $1,325,580.06. This represents a 3.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 13,885 shares of company stock valued at $102,815 over the last three months. 15.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Coursera

Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in Coursera by 2.3% in the first quarter. Vanguard Group Inc. now owns 11,405,792 shares of the company’s stock valued at $159,909,000 after buying an additional 254,108 shares during the last quarter. State Street Corp boosted its position in Coursera by 2.2% in the third quarter. State Street Corp now owns 2,947,168 shares of the company’s stock valued at $23,401,000 after buying an additional 63,549 shares during the last quarter. Geode Capital Management LLC boosted its position in Coursera by 7.3% in the third quarter. Geode Capital Management LLC now owns 2,922,953 shares of the company’s stock valued at $23,214,000 after buying an additional 199,050 shares during the last quarter. Millennium Management LLC boosted its position in Coursera by 67.0% in the 2nd quarter. Millennium Management LLC now owns 2,800,912 shares of the company’s stock worth $20,055,000 after purchasing an additional 1,123,397 shares in the last quarter. Finally, Invenomic Capital Management LP boosted its position in Coursera by 6.9% in the 3rd quarter. Invenomic Capital Management LP now owns 2,690,363 shares of the company’s stock worth $21,361,000 after purchasing an additional 172,585 shares in the last quarter. Institutional investors and hedge funds own 89.55% of the company’s stock.

About Coursera

Coursera, Inc operates an online educational content platform in the United States, Europe, Africa, the Asia Pacific, the Middle East, and internationally. It operates in three segments: Consumer, Enterprise, and Degrees. The company offers guided projects, courses, and specializations, as well as online degrees; and certificates for entry-level professional, non-entry level professional, university, and MasterTrack.