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 $7.27, but opened at $6.96. Coursera shares last traded at $7.00, with a volume of 179,520 shares changing hands.

Analysts Set New Price Targets

A number of brokerages recently issued reports on COUR. Needham & Company LLC reiterated a “buy” rating and set a $11.00 target price on shares of Coursera in a research report on Monday, January 27th. UBS Group lifted their target price on shares of Coursera from $7.50 to $8.50 and gave the company a “neutral” rating in a research note on Friday, January 31st. Royal Bank of Canada reissued an “outperform” rating and issued a $10.00 target price on shares of Coursera in a report on Friday, January 31st. Bank of America reiterated an “underperform” rating and issued a $7.00 price objective on shares of Coursera in a research report on Thursday. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $10.00 target price on shares of Coursera in a research note on Thursday, December 5th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, Coursera currently has an average rating of “Hold” and an average price target of $9.83.

Coursera Price Performance

The business’s 50 day simple moving average is $7.86 and its 200-day simple moving average is $7.87. The stock has a market capitalization of $1.09 billion, a P/E ratio of -13.07 and a beta of 1.40.

Insider Buying and Selling

In other Coursera news, SVP Alan B. Cardenas sold 5,613 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $8.26, for a total transaction of $46,363.38. Following the transaction, the senior vice president now owns 180,413 shares in the company, valued at approximately $1,490,211.38. This trade represents a 3.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 15.90% of the stock is owned by insiders.

Institutional Trading of Coursera

A number of hedge funds have recently modified their holdings of COUR. State of Wyoming raised its holdings in Coursera by 959.1% in the fourth quarter. State of Wyoming now owns 3,887 shares of the company’s stock worth $33,000 after purchasing an additional 3,520 shares during the period. SBI Securities Co. Ltd. bought a new position in Coursera during the fourth quarter worth about $35,000. FMR LLC grew its stake in Coursera by 67.6% in the third quarter. FMR LLC now owns 6,574 shares of the company’s stock valued at $52,000 after acquiring an additional 2,651 shares during the period. KBC Group NV raised its position in shares of Coursera by 90.7% during the fourth quarter. KBC Group NV now owns 9,203 shares of the company’s stock worth $78,000 after purchasing an additional 4,376 shares during the period. Finally, Wealth Enhancement Advisory Services LLC bought a new position in shares of Coursera during the 4th quarter valued at about $86,000. 89.55% of the stock is currently owned by institutional investors and hedge funds.

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.