Coursera, Inc. (NYSE:COUR) Short Interest Up 11.0% in October

Coursera, Inc. (NYSE:COUR) was the target of a significant increase in short interest in the month of October. As of October 31st, there was short interest totalling 10,010,000 shares, an increase of 11.0% from the October 15th total of 9,020,000 shares. Based on an average trading volume of 1,930,000 shares, the days-to-cover ratio is presently 5.2 days. Approximately 7.6% of the company’s shares are sold short.

Insider Transactions at Coursera

In other news, Director Andrew Y. Ng sold 6,221 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now directly owns 7,297,671 shares of the company’s stock, valued at approximately $58,600,298.13. This trade represents a 0.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 16.30% of the company’s stock.

Institutional Investors Weigh In On Coursera

Several institutional investors and hedge funds have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company grew its holdings in shares of Coursera by 1.8% during the second quarter. The Manufacturers Life Insurance Company now owns 70,457 shares of the company’s stock valued at $504,000 after buying an additional 1,276 shares during the last quarter. nVerses Capital LLC grew its holdings in shares of Coursera by 26.1% during the second quarter. nVerses Capital LLC now owns 8,700 shares of the company’s stock valued at $62,000 after buying an additional 1,800 shares during the last quarter. Covestor Ltd grew its holdings in shares of Coursera by 72.9% during the first quarter. Covestor Ltd now owns 4,378 shares of the company’s stock valued at $61,000 after buying an additional 1,846 shares during the last quarter. Pitcairn Co. grew its holdings in shares of Coursera by 16.9% during the third quarter. Pitcairn Co. now owns 13,655 shares of the company’s stock valued at $108,000 after buying an additional 1,971 shares during the last quarter. Finally, ProShare Advisors LLC grew its holdings in shares of Coursera by 10.3% during the first quarter. ProShare Advisors LLC now owns 23,787 shares of the company’s stock valued at $333,000 after buying an additional 2,224 shares during the last quarter. 89.55% of the stock is currently owned by institutional investors and hedge funds.

Coursera Trading Down 2.1 %

NYSE COUR opened at $6.93 on Monday. The firm’s fifty day simple moving average is $7.54 and its two-hundred day simple moving average is $7.73. Coursera has a 12-month low of $6.29 and a 12-month high of $21.26. The firm has a market capitalization of $1.10 billion, a P/E ratio of -13.59 and a beta of 1.44.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Royal Bank of Canada cut their price objective on shares of Coursera from $18.00 to $10.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Morgan Stanley cut their price objective on shares of Coursera from $15.00 to $10.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. Needham & Company LLC cut their price objective on shares of Coursera from $15.00 to $11.00 and set a “buy” rating on the stock in a report on Friday, October 25th. Bank of America assumed coverage on shares of Coursera in a report on Thursday, September 19th. They set a “buy” rating and a $11.00 price objective on the stock. Finally, Telsey Advisory Group reissued an “outperform” rating and set a $18.00 price objective on shares of Coursera in a report on Monday, October 21st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, Coursera has an average rating of “Moderate Buy” and an average price target of $10.93.

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.