Coursera (NYSE:COUR) Shares Gap Down – Here’s Why

Coursera, Inc. (NYSE:COUR) shares gapped down prior to trading on Thursday . The stock had previously closed at $7.27, but opened at $6.96. Coursera shares last traded at $7.00, with a volume of 179,520 shares.

Analyst Ratings Changes

A number of equities analysts have commented on COUR shares. Needham & Company LLC reaffirmed a “buy” rating and set a $11.00 target price on shares of Coursera in a research note on Monday, January 27th. Scotiabank started coverage on shares of Coursera in a research report on Thursday, December 5th. They set a “sector perform” rating and a $9.00 price target on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $10.00 price objective on shares of Coursera in a research report on Friday, January 31st. Cantor Fitzgerald restated an “overweight” rating and issued a $10.00 target price on shares of Coursera in a research report on Thursday, December 5th. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and set a $15.00 target price on shares of Coursera in a research note on Tuesday, January 28th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $9.83.

Coursera Stock Performance

The company has a market capitalization of $1.11 billion, a PE ratio of -13.38 and a beta of 1.40. The stock’s 50-day simple moving average is $7.93 and its 200 day simple moving average is $7.88.

Insider Activity at Coursera

In related news, SVP Alan B. Cardenas sold 5,613 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $8.26, for a total transaction of $46,363.38. Following the completion of the sale, the senior vice president now owns 180,413 shares in the company, valued at $1,490,211.38. The trade was a 3.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 15.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Coursera

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in shares of Coursera by 3.8% in the 4th quarter. Vanguard Group Inc. now owns 12,147,159 shares of the company’s stock valued at $103,251,000 after buying an additional 440,948 shares in the last quarter. State Street Corp lifted 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 acquiring an additional 63,549 shares during the last quarter. Geode Capital Management LLC boosted its stake 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 acquiring an additional 199,050 shares in the last quarter. Invenomic Capital Management LP grew its holdings in shares of Coursera by 6.9% during the third 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 during the last quarter. Finally, Norges Bank acquired a new stake in shares of Coursera during the fourth quarter worth about $17,010,000. Institutional investors and hedge funds own 89.55% of the company’s stock.

Coursera Company Profile

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.