Coursera (NYSE:COUR) Shares Gap Down – Should You Sell?

Coursera, Inc. (NYSE:COUR)’s share price gapped down before the market opened 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.

Wall Street Analysts Forecast Growth

COUR has been the subject of a number of recent research reports. Morgan Stanley reduced their price objective on Coursera from $15.00 to $10.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $10.00 price target on shares of Coursera in a report on Friday. Scotiabank began coverage on Coursera in a report on Thursday, December 5th. They issued a “sector perform” rating and a $9.00 price objective on the stock. JPMorgan Chase & Co. initiated coverage on Coursera in a research report on Monday, November 25th. They set a “neutral” rating and a $8.00 target price on the stock. Finally, Needham & Company LLC reissued a “buy” rating and issued a $11.00 price target on shares of Coursera in a report on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $10.13.

Coursera Price Performance

The business has a fifty day moving average of $8.47 and a 200 day moving average of $8.00.

Insiders Place Their Bets

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

Institutional Trading of Coursera

Several hedge funds have recently modified their holdings of the stock. FMR LLC grew its holdings in Coursera by 67.6% during the 3rd quarter. FMR LLC now owns 6,574 shares of the company’s stock worth $52,000 after acquiring an additional 2,651 shares in the last quarter. CWM LLC grew its position in shares of Coursera by 82.3% in the 3rd quarter. CWM LLC now owns 7,128 shares of the company’s stock valued at $57,000 after buying an additional 3,217 shares during the last quarter. KBC Group NV raised its stake in Coursera by 90.7% during the 4th quarter. KBC Group NV now owns 9,203 shares of the company’s stock worth $78,000 after acquiring an additional 4,376 shares in the last quarter. Quarry LP lifted its position in Coursera by 936.6% in the second quarter. Quarry LP now owns 10,356 shares of the company’s stock valued at $74,000 after acquiring an additional 9,357 shares during the last quarter. Finally, New York State Teachers Retirement System acquired a new position in Coursera in the fourth quarter valued at $107,000. 89.55% of the stock is currently owned by institutional investors and hedge funds.

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.