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

Coursera, Inc. (NYSE:COUR)’s stock price gapped down prior to trading on Thursday . The stock had previously closed at $9.58, but opened at $9.03. Coursera shares last traded at $8.47, with a volume of 459,484 shares changing hands.

Wall Street Analyst Weigh In

COUR has been the subject of a number of analyst reports. Morgan Stanley lowered their price target on Coursera from $15.00 to $10.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. Needham & Company LLC reaffirmed a “buy” rating and issued a $11.00 price objective on shares of Coursera in a research report on Monday. KeyCorp decreased their price target on Coursera from $12.00 to $11.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. JPMorgan Chase & Co. began coverage on shares of Coursera in a report on Monday, November 25th. They set a “neutral” rating and a $8.00 price objective on the stock. Finally, BMO Capital Markets lowered their target price on shares of Coursera from $10.00 to $9.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, Coursera currently has an average rating of “Moderate Buy” and an average price target of $10.27.

Coursera Stock Down 12.7 %

The company’s 50-day moving average price is $8.43 and its 200-day moving average price is $7.99. The firm has a market cap of $1.33 billion, a price-to-earnings ratio of -16.40 and a beta of 1.44.

Insiders Place Their Bets

In other news, SVP Alan B. Cardenas sold 6,102 shares of Coursera stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $6.83, for a total value of $41,676.66. Following the sale, the senior vice president now directly owns 194,082 shares of the company’s stock, valued at $1,325,580.06. The trade was a 3.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 16.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Algert Global LLC lifted its position in Coursera by 17.7% during the third quarter. Algert Global LLC now owns 475,496 shares of the company’s stock worth $3,775,000 after buying an additional 71,382 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in shares of Coursera by 6.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,413,641 shares of the company’s stock valued at $11,224,000 after acquiring an additional 83,369 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of 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 purchasing an additional 199,050 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Coursera during the third quarter worth about $3,090,000. Finally, Franklin Resources Inc. purchased a new position in Coursera during the third quarter worth about $1,651,000. Hedge funds and other institutional investors 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.