Was Peter Avellone’s Cartenna Capital Right About These 5 Stocks?

In this article, we discuss 5 new stock picks of Peter Avellone’s Cartenna Capital as of the third quarter of 2021 and evaluate their performance over the past year. To see more stocks, go to Was Peter Avellone’s Cartenna Capital Right About These 10 Stocks?

5. Coursera, Inc. (NYSE:COUR)

Cartenna Capital’s Stake Value: $11,457,000

Stock performance over the past 12 months as of November 24: -54%

Coursera, Inc. (NYSE:COUR) is an American provider of online courses, certifications, and degrees from over 150 universities. Avellone, via Cartenna Capital, purchased an $11.45 million stake in Coursera, Inc. (NYSE:COUR) during the third quarter of 2021, which represents 4.23% of the fund’s 13F securities. 

Needham analyst Ryan MacDonald lowered the price target on Coursera, Inc. (NYSE:COUR) to $45 from $56 but kept a Buy rating on the shares on November 3. 

Of the 25 hedge funds that were bullish on Coursera, Inc. (NYSE:COUR) during Q3 2021, Shannon River Fund Management is the largest company stakeholder, with a $38 million position. 

Here is what ClearBridge SMID Cap Growth Strategy has to say about Coursera, Inc. (NYSE:COUR) in its Q3 2021 investor letter:

“We also added two positions in the IPO aftermarket, (one is) online education portal Coursera. Coursera, which makes academic courses from some of the world’s leading universities available through its platform and offers online degree programs, saw its shares trade lower following its March IPO but has seen significant uptake for its services since the onset of COVID.”