Renaissance Technologies LLC Decreases Stock Holdings in Coursera, Inc. $COUR

Renaissance Technologies LLC lowered its holdings in shares of Coursera, Inc. (NYSE:COUR) by 29.6% in the 1st quarter, Holdings Channel.com reports. The firm owned 1,385,193 shares of the company’s stock after selling 582,900 shares during the quarter. Renaissance Technologies LLC’s holdings in Coursera were worth $8,062,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in COUR. Baillie Gifford & Co. raised its stake in shares of Coursera by 97.0% in the fourth quarter. Baillie Gifford & Co. now owns 14,590,942 shares of the company’s stock valued at $107,389,000 after acquiring an additional 7,184,167 shares during the period. Invenomic Capital Management LP lifted its holdings in shares of Coursera by 207.3% in the 4th quarter. Invenomic Capital Management LP now owns 906,224 shares of the company’s stock worth $6,670,000 after acquiring an additional 611,325 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH boosted its stake in shares of Coursera by 58.2% during the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 1,084,567 shares of the company’s stock worth $7,982,000 after purchasing an additional 398,920 shares during the period. Waterfront Wealth Inc. boosted its stake in shares of Coursera by 98.0% during the 1st quarter. Waterfront Wealth Inc. now owns 364,339 shares of the company’s stock worth $2,120,000 after purchasing an additional 180,374 shares during the period. Finally, Principal Financial Group Inc. grew its holdings in Coursera by 273.9% during the 1st quarter. Principal Financial Group Inc. now owns 331,500 shares of the company’s stock valued at $1,929,000 after purchasing an additional 242,850 shares during the last quarter. 89.55% of the stock is owned by hedge funds and other institutional investors.

Coursera Price Performance

COUR opened at $5.88 on Tuesday. The firm has a market capitalization of $994.81 million, a PE ratio of -8.77, a price-to-earnings-growth ratio of 1.78 and a beta of 1.24. The business’s 50-day moving average is $5.56 and its two-hundred day moving average is $5.83. Coursera, Inc. has a 1 year low of $5.00 and a 1 year high of $12.93.

Coursera (NYSE:COUR) last released its quarterly earnings results on Wednesday, July 29th. The company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.10 by $0.07. Coursera had a negative net margin of 15.39% and a negative return on equity of 2.08%. 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 prior year, the firm posted $0.12 earnings per share. The company’s quarterly revenue was up 59.6% on a year-over-year basis. As a group, sell-side analysts expect that Coursera, Inc. will post 0.06 EPS for the current year.

Coursera announced that its board has approved a share repurchase plan on Monday, May 18th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to purchase up to 55.9% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on COUR shares. Royal Bank Of Canada reissued an “outperform” rating and set a $7.00 price target on shares of Coursera in a research note on Wednesday, June 24th. 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. JPMorgan Chase & Co. reduced their target price on Coursera from $10.00 to $8.00 and set an “overweight” rating on the stock in a research note on Friday, April 24th. KeyCorp reissued an “overweight” rating on shares of Coursera in a research note on Wednesday, June 24th. Finally, Morgan Stanley set a $7.50 price target on shares of Coursera in a report on Friday, April 24th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $8.55.

Insider Activity at Coursera

In related news, SVP Alan B. Cardenas sold 9,139 shares of the stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $5.52, for a total transaction of $50,447.28. Following the completion of the sale, the senior vice president owned 255,934 shares of the company’s stock, valued at $1,412,755.68. This represents a 3.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Insight Holdings Group, Llc sold 1,466,372 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $5.24, for a total transaction of $7,683,789.28. Following the completion of the sale, the insider owned 419,784 shares of the company’s stock, valued at approximately $2,199,668.16. This trade represents a 77.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 2,009,139 shares of company stock valued at $10,643,180. 16.30% of the stock is currently owned by company insiders.

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.