Alan B. Cardenas, Senior Vice President and General Counsel at Coursera, Inc. (NYSE:COUR), recently sold 6,102 shares of the company's common stock. The shares were sold on November 18 at a weighted average price of $6.8258, amounting to a total transaction value of $41,651. This sale was conducted under a Rule 10b5-1 trading plan that Cardenas adopted earlier this year.
Prior to this transaction, on November 15, Cardenas had 7,250 shares withheld by the company to cover tax liabilities related to the vesting of restricted stock units. These shares were valued at a price of $6.93 each, totaling $50,242. Following these transactions, Cardenas now holds 194,082 shares directly.
In other recent news, Coursera, a prominent online learning platform, has reported a 6% year-over-year revenue increase to $176.1 million in Q3 2024. The company's adjusted EBITDA margins also improved to 5.4%. These recent developments showcase Coursera's strategic focus on growth, as it expands its offerings with professional certificates and AI-driven courses. The company also reported a 19% increase in paid enterprise customers and introduced AI-driven course customization tools. Despite a planned 10% workforce reduction, Coursera's outlook remains optimistic, projecting Q4 revenue between $174 million and $178 million, and a full-year forecast range of $690 million to $694 million. The company is also considering strategic acquisitions for double-digit growth after repurchasing $40 million in stock.
InvestingPro Insights
While Coursera's senior leadership engages in stock transactions, it's crucial to examine the company's financial health and market position. According to InvestingPro data, Coursera's market capitalization stands at $1.08 billion, with a revenue of $684.37 million for the last twelve months as of Q3 2024, showing a 12.36% growth.
Despite the recent insider sale, InvestingPro Tips reveal that management has been aggressively buying back shares, which could signal confidence in the company's future prospects. Additionally, Coursera holds more cash than debt on its balance sheet, indicating a strong financial position that may provide flexibility for future growth initiatives.
However, investors should note that Coursera's stock price has fallen significantly over the last year, with a one-year price total return of -64.18%. This decline aligns with the company's current unprofitability, as highlighted by another InvestingPro Tip. Nevertheless, analysts predict that Coursera will be profitable this year, which could potentially reverse the stock's downward trend.
For a more comprehensive analysis, InvestingPro offers 6 additional tips that could provide valuable insights into Coursera's investment potential. These additional tips, along with real-time metrics, can help investors make more informed decisions about COUR stock.
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