Invenomic Capital Management LP Acquires 172,585 Shares of Coursera, Inc. (NYSE:COUR)

Invenomic Capital Management LP increased its position in Coursera, Inc. (NYSE:COUR) by 6.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,690,363 shares of the company’s stock after acquiring an additional 172,585 shares during the quarter. Invenomic Capital Management LP’s holdings in Coursera were worth $21,361,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. The Manufacturers Life Insurance Company lifted its stake in Coursera by 1.8% during the second quarter. The Manufacturers Life Insurance Company now owns 70,457 shares of the company’s stock worth $504,000 after purchasing an additional 1,276 shares during the last quarter. nVerses Capital LLC grew its holdings in shares of Coursera by 26.1% during the 2nd quarter. nVerses Capital LLC now owns 8,700 shares of the company’s stock valued at $62,000 after purchasing an additional 1,800 shares during the last quarter. Pitcairn Co. raised its position in Coursera by 16.9% in the 3rd quarter. Pitcairn Co. now owns 13,655 shares of the company’s stock worth $108,000 after purchasing an additional 1,971 shares during the period. FMR LLC lifted its stake in Coursera by 67.6% in the third quarter. FMR LLC now owns 6,574 shares of the company’s stock worth $52,000 after purchasing an additional 2,651 shares during the last quarter. Finally, Harbor Capital Advisors Inc. grew its position in Coursera by 11.2% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 26,424 shares of the company’s stock worth $210,000 after acquiring an additional 2,658 shares during the last quarter. Hedge funds and other institutional investors own 89.55% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on COUR shares. KeyCorp cut their price target on shares of Coursera from $12.00 to $11.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. Cantor Fitzgerald lowered their price objective on Coursera from $22.00 to $10.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. Bank of America assumed coverage on shares of Coursera in a report on Thursday, September 19th. They issued a “buy” rating and a $11.00 price objective on the stock. Telsey Advisory Group reiterated an “outperform” rating and set a $18.00 target price on shares of Coursera in a report on Monday, October 21st. Finally, JPMorgan Chase & Co. started coverage on Coursera in a research note on Monday, November 25th. They issued a “neutral” rating and a $8.00 price target on the stock. One investment analyst has rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Coursera presently has an average rating of “Moderate Buy” and a consensus price target of $10.66.

Coursera Price Performance

Shares of COUR stock opened at $8.28 on Tuesday. Coursera, Inc. has a 1 year low of $6.29 and a 1 year high of $21.26. The firm has a fifty day moving average price of $7.47 and a 200-day moving average price of $7.61.

Insiders Place Their Bets

In other Coursera news, Director Andrew Y. Ng sold 6,221 shares of Coursera stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $8.03, for a total transaction of $49,954.63. Following the completion of the transaction, the director now directly owns 7,297,671 shares of the company’s stock, valued at $58,600,298.13. The trade was a 0.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Alan B. Cardenas sold 6,102 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $6.83, for a total transaction of $41,676.66. Following the transaction, the senior vice president now owns 194,082 shares in the company, valued at $1,325,580.06. The trade was a 3.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 13,885 shares of company stock worth $102,815 over the last quarter. 15.90% of the stock is currently owned by corporate insiders.

Coursera 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.