New York State Common Retirement Fund lifted its position in Coursera, Inc. (NASDAQ:COUR) by 254.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 36,876 shares of the company’s stock after acquiring an additional 26,476 shares during the period. New York State Common Retirement Fund’s holdings in Coursera were worth $1,167,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp purchased a new position in shares of Coursera in the second quarter worth approximately $7,766,000. Credit Suisse AG purchased a new position in Coursera during the second quarter valued at approximately $28,700,000. Newbridge Financial Services Group Inc. purchased a new position in Coursera during the second quarter valued at approximately $32,000. Jasper Ridge Partners L.P. purchased a new position in Coursera during the second quarter valued at approximately $508,000. Finally, Virtu Financial LLC grew its position in Coursera by 65.0% during the second quarter. Virtu Financial LLC now owns 9,792 shares of the company’s stock valued at $387,000 after purchasing an additional 3,857 shares in the last quarter. 61.76% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages recently commented on COUR. Needham & Company LLC lowered their price objective on shares of Coursera from $56.00 to $45.00 and set a “buy” rating on the stock in a research report on Wednesday, November 3rd. The Goldman Sachs Group raised shares of Coursera from a “neutral” rating to a “buy” rating and set a $32.00 price objective on the stock in a research report on Friday, January 7th. Zacks Investment Research downgraded shares of Coursera from a “buy” rating to a “hold” rating in a research report on Tuesday, November 9th. Morgan Stanley lowered their price objective on shares of Coursera from $53.00 to $48.00 and set an “overweight” rating on the stock in a research report on Thursday, December 9th. Finally, KeyCorp lifted their target price on shares of Coursera from $45.00 to $57.00 and gave the company an “overweight” rating in a research note on Wednesday, November 3rd. They noted that the move was a valuation call. One equities research analyst has rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Coursera presently has an average rating of “Buy” and an average target price of $49.11.
Coursera (NASDAQ:COUR) last issued its quarterly earnings data on Tuesday, November 2nd. The company reported ($0.06) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.18) by $0.12. Coursera had a negative net margin of 32.38% and a negative return on equity of 46.62%. The business had revenue of $109.88 million during the quarter, compared to analysts’ expectations of $108.66 million. As a group, analysts anticipate that Coursera, Inc. will post -1.23 EPS for the current year.
In related news, insider Shravan Goli sold 1,260 shares of the company’s stock in a transaction on Wednesday, November 17th. The shares were sold at an average price of $36.36, for a total transaction of $45,813.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Richard J. Jacquet sold 11,186 shares of the company’s stock in a transaction on Tuesday, December 28th. The shares were sold at an average price of $24.32, for a total transaction of $272,043.52. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 197,328 shares of company stock valued at $6,066,381.
Coursera, Inc operates an online educational content platform that connects learners, educators, and institutions. It offers online courses that include data science, business, computer science, information technology, health, social sciences, logic, project management, and digital marketing services; campus student plans; degree courses; and certification education.
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