Connor Clark & Lunn Investment Management Ltd. Invests $9.69 Million in Coursera, Inc. $COUR

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Coursera, Inc. (NYSE:COUR) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,717,789 shares of the company’s stock, valued at approximately $9,688,000.

Other large investors have also made changes to their positions in the company. BlackRock Inc. purchased a new stake in Coursera during the 2nd quarter worth about $116,245,000. Pale Fire Capital SE purchased a new position in Coursera in the 1st quarter valued at about $61,178,000. Mak Capital One LLC purchased a new position in Coursera in the 4th quarter valued at about $27,610,000. Caledonia Private Investments Pty Ltd boosted its stake in shares of Coursera by 29.4% during the 4th quarter. Caledonia Private Investments Pty Ltd now owns 12,052,670 shares of the company’s stock worth $88,708,000 after purchasing an additional 2,739,039 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its stake in shares of Coursera by 341.6% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 2,955,723 shares of the company’s stock worth $34,612,000 after purchasing an additional 2,286,395 shares during the last quarter. Institutional investors and hedge funds own 89.55% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Needham & Company LLC reiterated a “buy” rating and set a $10.00 price target on shares of Coursera in a report on Wednesday, June 24th. Weiss Ratings lowered shares of Coursera from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, August 11th. KeyCorp restated an “overweight” rating on shares of Coursera in a research report on Wednesday, June 24th. Bank of America lowered their target price on shares of Coursera from $8.00 to $7.00 and set a “neutral” rating for the company in a research note on Tuesday, June 30th. Finally, BMO Capital Markets reiterated an “outperform” rating on shares of Coursera in a report on Thursday, July 30th. Seven investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Coursera presently has a consensus rating of “Moderate Buy” and a consensus price target of $8.55.

Coursera Stock Performance

Shares of COUR stock opened at $6.04 on Thursday. Coursera, Inc. has a one year low of $5.00 and a one year high of $12.32. The company has a 50 day moving average price of $5.71 and a 200 day moving average price of $5.78. The firm has a market capitalization of $1.60 billion, a price-to-earnings ratio of -9.01, a price-to-earnings-growth ratio of 0.78 and a beta of 1.24.

Coursera (NYSE:COUR) last posted its quarterly earnings results on Wednesday, July 29th. The company reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.07. The company had revenue of $298.60 million for the quarter, compared to the consensus estimate of $293.61 million. Coursera had a negative net margin of 15.39% and a negative return on equity of 1.72%. Coursera’s revenue was up 59.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.12 earnings per share. As a group, equities analysts forecast that Coursera, Inc. will post 0.16 EPS for the current fiscal year.

Coursera announced that its Board of Directors has approved a stock buyback program on Monday, May 18th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to repurchase up to 55.9% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity at Coursera

In related news, SVP Alan B. Cardenas sold 9,139 shares of the stock in a transaction on Monday, August 17th. The stock was sold at an average price of $5.71, for a total value of $52,183.69. Following the transaction, the senior vice president directly owned 236,237 shares of the company’s stock, valued at approximately $1,348,913.27. This trade represents a 3.72% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 16.30% of the stock is currently owned by insiders.

Coursera Company 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.