Coursera Inc.'s (NYSE:COUR) Senior Vice President and General Counsel, Alan B. Cardenas, has sold a portion of his stock in the online education platform, transactions filed with the Securities and Exchange Commission reveal. According to the filing, Cardenas sold 6,283 shares at prices ranging from $8.47 to $8.74, resulting in total proceeds of over $53,811.
The sales were conducted under a pre-arranged 10b5-1 trading plan, which allows company insiders to sell stock at predetermined times to avoid any accusations of trading on nonpublic information. Such plans are common among corporate executives and are intended to prevent any potential conflicts of interest related to insider knowledge.
In addition to the sales, the SEC filing also reported that 6,870 shares of common stock were withheld by Coursera on May 15 to cover Cardenas's tax liability associated with the vesting of restricted stock units. The shares were withheld at a price of $8.96 per share, amounting to a total value of $61,555.
Following these transactions, the SEC filing indicated that Cardenas still owns 220,589 shares of Coursera Inc., demonstrating his continued investment in the company's future.
Coursera, headquartered in Mountain View, California, is known for its wide range of online courses, specializations, and degrees that cater to learners across the globe. The company's stock, traded under the symbol NYSE:COUR, is watched closely by investors interested in the education technology sector.
Investors typically monitor insider transactions as they can provide insights into executives' perspectives on the company's value and future prospects. However, it is important to note that such sales and withholdings can be influenced by a variety of factors, including personal financial planning and diversification strategies.
InvestingPro Insights
As Coursera Inc. (NYSE:COUR) navigates the dynamic landscape of online education, the company's financial health and stock performance metrics provide valuable insights for investors. The latest data from InvestingPro reveals several key metrics that highlight the company's current market position:
- Market Cap (Adjusted): $1.32 billion USD, reflecting the company's valuation in the market.
- Revenue Growth (Quarterly) for Q1 2023: A robust 14.51%, indicating a strong revenue increase in the recent quarter.
- Price, Previous Close: $8.71 USD, which places the stock near its 52-week low and suggests potential for upside if the company's growth trends continue.
In addition to these metrics, certain InvestingPro Tips offer further perspective on Coursera's situation:
- InvestingPro Tips indicate that management has been aggressively buying back shares, which could be a sign of confidence in the company's future prospects.
- Another tip to consider is that Coursera holds more cash than debt on its balance sheet, providing the company with financial flexibility.
For investors seeking a deeper analysis, there are 12 additional InvestingPro Tips available for Coursera Inc., which can be accessed through the platform. These tips can provide a more nuanced view of the company's financial health and stock performance. Interested readers can use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking a wealth of expert insights and real-time data to inform their investment decisions.
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