Coursera, Inc.'s (NYSE:COUR) President and CEO, Jeffrey Nacey Maggioncalda, recently sold 50,000 shares of the company's common stock, generating over $722,000 in total proceeds. The transactions were carried out on March 14, 2024, with the shares being sold at prices ranging from $14.30 to $14.83.
This sale was executed in accordance with a pre-arranged trading plan known as a Rule 10b5-1, which was adopted on February 16, 2023. Such plans allow company insiders to sell shares over a predetermined period of time, providing an affirmative defense against accusations of trading on non-public material information.
Following the sale, Maggioncalda's remaining stake in Coursera stands at 2,327,496 shares of common stock, maintaining a significant investment in the company's future. The sale represents a notable transaction by the company's CEO and is likely to be of interest to investors and market watchers.
The educational technology company, known for its online courses and learning platform, has its headquarters in Mountain View, California. Coursera's stock trades under the ticker symbol NYSE:COUR, and the company continues to be a key player in the evolving landscape of online education and professional development.
InvestingPro Insights
Amidst the news of Coursera, Inc.'s (NYSE:COUR) CEO selling a portion of his stock, investors may be curious about the company's current financial health and market performance. According to real-time data from InvestingPro, Coursera holds a market capitalization of $2.26 billion, reflecting its standing in the competitive online education sector. Despite facing challenges, the company's revenue has grown by 21.39% over the last twelve months as of Q4 2023, a sign of its expanding reach and potential for future growth.
Investors should note that Coursera's stock has experienced significant price volatility recently, with a 29.59% decline over the past three months. This might align with an InvestingPro Tip indicating that Coursera's stock price movements are quite volatile, which could present both risks and opportunities for traders and investors alike. Additionally, the company's gross profit margin stands at a solid 51.89%, showcasing its ability to maintain profitability on its offerings despite the competitive landscape.
For those considering a deeper analysis, InvestingPro offers additional insights, such as the fact that Coursera holds more cash than debt on its balance sheet, which could provide some financial stability in uncertain times. Also, analysts have revised their earnings estimates upwards for the upcoming period, which may signal optimism about the company's future performance. With these factors in mind, interested parties can explore further with InvestingPro, which lists many more tips for a comprehensive investment evaluation. To access these insights, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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