Coursera (NYSE:COUR) Shares Up 8.3% – Time to Buy?

Coursera, Inc. (NYSE:COUR)’s share price traded up 8.3% on Wednesday . The stock traded as high as $6.22 and last traded at $6.3350. 5,344,659 shares were traded during mid-day trading, a decline of 9% from the average session volume of 5,869,623 shares. The stock had previously closed at $5.85.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Royal Bank Of Canada reissued an “outperform” rating and set a $7.00 price objective on shares of Coursera in a research note on Wednesday, June 24th. Bank of America decreased their target price on Coursera from $8.00 to $7.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 30th. KeyCorp reaffirmed an “overweight” rating on shares of Coursera in a report on Wednesday, June 24th. Wall Street Zen downgraded Coursera from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, BMO Capital Markets boosted their price objective on Coursera from $7.00 to $8.00 and gave the stock an “outperform” rating in a report on Monday, July 6th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $8.50.

Coursera Stock Performance

The stock has a market cap of $1.06 billion, a PE ratio of -16.44, a PEG ratio of 2.27 and a beta of 1.23. The company’s 50-day moving average price is $5.53 and its two-hundred day moving average price is $5.88.

Coursera declared that its board has approved a share buyback plan on Monday, May 18th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 55.9% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Insider Transactions at Coursera

In other Coursera news, major shareholder Insight Holdings Group, Llc sold 1,466,372 shares of Coursera stock in a transaction dated 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 sale, the insider owned 419,784 shares of the company’s stock, valued at $2,199,668.16. The trade was a 77.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Alan B. Cardenas sold 9,139 shares of the company’s stock in a transaction dated Monday, May 18th. The stock was 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 $1,412,755.68. The trade was 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 worth $10,643,180 in the last 90 days. Company insiders own 16.30% of the company’s stock.

Institutional Trading of Coursera

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Aster Capital Management DIFC Ltd bought a new position in Coursera during the fourth quarter valued at approximately $25,000. Optiver Holding B.V. purchased a new position in shares of Coursera during the first quarter worth approximately $31,000. Versant Capital Management Inc lifted its holdings in shares of Coursera by 63.2% in the 2nd quarter. Versant Capital Management Inc now owns 5,555 shares of the company’s stock worth $31,000 after acquiring an additional 2,152 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Coursera by 224.1% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 4,939 shares of the company’s stock worth $36,000 after acquiring an additional 3,415 shares during the last quarter. Finally, Clearstead Trust LLC purchased a new stake in shares of Coursera in the 4th quarter valued at $39,000. Hedge funds and other institutional investors own 89.55% of the company’s stock.

About Coursera

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.