Coursera Inc. (NYSE:COUR) director Andrew Y. Ng recently sold some of his company’s stock, according to the company’s latest SEC filing. On September 18, 2024, Ng sold 6,221 shares of Coursera common stock at prices between $8.00 and $8.10 per share. The total value of the shares sold was approximately $49,963, based on the weighted average selling price of $8.0315.
The transaction was made under a Rule 10b5-1 trading plan that Ng adopted on June 13, 2024. A Rule 10b5-1 trading plan allows company insiders to sell stock at predetermined times to avoid charges of trading on nonpublic information. Ng’s plan appears to have been set up well before the actual date of the sale.
Following the sale, Ng retained a significant interest in the company and continues to hold 7,297,671 Coursera common shares, indicating that Ng continues to have a significant stake in Coursera’s future despite the recent sale.
Investors and market participants often pay close attention to insider selling, as it can give them insight into insiders’ views on the value of a company. However, such selling can occur for a variety of reasons and doesn’t necessarily indicate a lack of confidence in the company’s future prospects.
Coursera, a leading online learning platform, is known for its wide range of courses and partnerships with universities and organizations around the world. As the educational technology sector continues to evolve, Coursera remains at the forefront, providing innovative solutions to learners around the world.
In other recent news, Coursera Inc (NYSE:) posted strong results in its latest earnings, beating consensus expectations. The company’s second-quarter revenue rose 11% year over year to $170.3 million, driven primarily by an increase in international learners and robust enrollment. BofA Securities initiated coverage on Coursera with a buy rating, while Goldman Sachs maintained a sell rating and lowered its 12-month target price. Needham, however, maintained a buy rating following the company’s better-than-expected second-quarter results. Recent developments for Coursera include advancements in its generative AI services (enrollments in its AI catalog exceed 2 million) and the launch of a record 16 new professional certification programs. Looking ahead, Coursera expects third-quarter revenue of $171 million to $175 million and plans to continue expanding its degree and enterprise divisions.
InvestingPro Insights
Amid active insider trading, Coursera, Inc. (NYSE:COUR) remains a focus for investors tracking the education technology sector. With a market capitalization of $1.28 billion, the company’s financial position and stock performance are of particular interest. According to the latest data from InvestingPro, Coursera has more cash than debt on its balance sheet, suggesting a stable financial position to support its ongoing business operations and strategic initiatives.
Despite the challenges it has faced over the past year, including a significant decline in its stock price, Coursera’s trailing twelve-month revenue growth rate remains strong at 16.19% as of Q2 2024, reflecting the company’s ability to expand its revenue streams in a competitive market. Additionally, Coursera’s gross margin for the same period was reported to be 52.3%, indicating its strong ability to control costs relative to revenue.
InvestingPro’s tip highlights that Coursera’s management has been aggressively repurchasing its own shares, which may reflect confidence in the company’s value and prospects. Additionally, the company is expected to see an increase in net income this year, which could mark a turning point for profitability. For readers interested in a more in-depth analysis, InvestingPro offers additional tips on Coursera, providing a more comprehensive view of the company’s financial health and stock price movement.
Investors who would like to learn more about Coursera’s share price volatility and future profitability can find a total of 12 InvestingPro Tips on the platform. InvestingPro Coursera.
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