Coursera (NYSE:COUR) Shares Gap Down - Here's What Happened

Shares of Coursera, Inc. (NYSE:COUR - Get Free Report) 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.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on COUR. Bank of America reiterated an "underperform" rating and issued a $7.00 price target on shares of Coursera in a research note on Thursday. Needham & Company LLC reissued a "buy" rating and issued a $11.00 target price on shares of Coursera in a research report on Monday, January 27th. UBS Group raised their price objective on shares of Coursera from $7.50 to $8.50 and gave the stock a "neutral" rating in a research report on Friday, January 31st. Cantor Fitzgerald reiterated an "overweight" rating and issued a $10.00 price objective on shares of Coursera in a research report on Thursday, December 5th. Finally, Scotiabank assumed coverage on shares of Coursera in a report on Thursday, December 5th. They set a "sector perform" rating and a $9.00 price target for the company. Two research analysts have rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $9.83.

Coursera Stock Performance

The business has a fifty day simple moving average of $7.86 and a 200 day simple moving average of $7.87. The stock has a market cap of $1.07 billion, a price-to-earnings ratio of -12.84 and a beta of 1.40.

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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 shares were sold at an average price of $8.26, for a total transaction of $46,363.38. Following the sale, the senior vice president now directly owns 180,413 shares of the company's stock, valued at $1,490,211.38. This trade represents a 3.02 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 16.30% of the stock is currently owned by company insiders.

Institutional Trading of Coursera

Hedge funds have recently bought and sold shares of the company. Norges Bank purchased a new position in shares of Coursera during the 4th quarter worth $17,010,000. Two Sigma Investments LP acquired a new stake in Coursera in the 4th quarter worth about $8,710,000. Ameriprise Financial Inc. grew its holdings in Coursera by 253.1% in the 4th quarter. Ameriprise Financial Inc. now owns 1,424,354 shares of the company's stock valued at $12,107,000 after buying an additional 1,020,969 shares during the period. BNP Paribas Financial Markets purchased a new position in shares of Coursera during the 4th quarter worth about $6,612,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Coursera by 61.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,647,619 shares of the company's stock worth $13,082,000 after acquiring an additional 628,140 shares during the last quarter. Institutional investors and hedge funds own 89.55% of the company's stock.

About Coursera

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.