IEQ Capital buys $2.89M Coursera stake as revenue jumps 59.6%
What's the deal? IEQ Capital LLCDealroom has a profile for this one. Try Dealroom → has acquired a new position in Coursera, buying 512,762 shares valued at about $2,892,000 during the second quarter, according to HoldingsChannel. The online learning company trades on the NYSE under the ticker COUR.
By the numbers: Coursera reported $298.60 million in second-quarter revenue, up 59.6% year-over-year and ahead of the $293.61 million consensus. Earnings of $0.17 per share topped estimates of $0.10.
What else? The company still posted a negative net margin of 15.39% and a negative return on equity of 1.72%. Its stock opened at $6.03, near the bottom of a 52-week range that runs from $5.00 to $12.32, giving it a $1.59 billion market capitalisation.
Why now? IEQ was one of several institutions adjusting positions. Deutsche Bank AGDealroom has a profile for this one. Try Dealroom → opened a new stake worth roughly $9,848,000, while Great Lakes Advisors LLCDealroom has a profile for this one. Try Dealroom → bought in at about $3,262,000. Institutional investors and hedge funds own 89.55% of Coursera's stock.
What's the endgame? In May, Coursera's board authorised a $500 million share repurchase plan, covering up to 55.9% of outstanding shares. The move signals confidence at a time when the stock trades well below its highs.
Between the lines: Analysts are split. Needham & CompanyDealroom has a profile for this one. Try Dealroom → reaffirmed a "buy" rating with a $10.00 target, and BMO Capital MarketsDealroom has a profile for this one. Try Dealroom → reiterated "outperform," while Bank of AmericaDealroom has a profile for this one. Try Dealroom → cut its target to $7.00 with a "neutral" rating and Weiss RatingsDealroom has a profile for this one. Try Dealroom → downgraded the stock to "sell." The consensus rating is "Moderate Buy," with an average target of $8.55.
The signal: Coursera's fast revenue growth and heavy institutional ownership contrast with a depressed share price and persistent losses, leaving investors to weigh momentum against profitability.
Read more: tickerreport.com
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