Caledonia (Private) Investments Doubles Down on Coursera Stock: Is it Time to Buy?
Key Points
Caledonia increased its Coursera stake by 1,935,803 shares, with a net position change of $44.43 million.
The transaction accounted for 0.34% of 13F reportable assets under management.
Post-trade Coursera position: 9,313,631 shares valued at $109.06 million.
Coursera represents 1.77% of fund AUM, which places it outside the fund's top five holdings.
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Caledonia (Private) Investments Pty Ltd disclosed a buy of 1,935,803 additional Coursera shares, increasing its position by an estimated $44.43 million, per Nov. 14, 2025, SEC filings.
What happened
According to a Securities and Exchange Commission (SEC) filing dated Nov. 14, 2025, Caledonia (Private) Investments increased its position in Coursera (NYSE:COUR) by 1,935,803 shares during the third quarter.
The fund reported holding 9,313,631 shares at quarter-end, with a total position value of $109.06 million, compared to $64.63 million the previous quarter.
What else to know
Caledonia (Private) Investments executed a buy, bringing Coursera to 1.8% of its 13F reportable AUM.
Top holdings after the filing:
- Zillow Group (NASDAQ:Z): $2 billion (33.3% of AUM)
- Flutter Entertainment (NYSE:FLUT): $1.8 billion (28.6% of AUM)
- Zillow Group, Class A (NASDAQ:ZG): $864 million (14.0% of AUM)
- Cameco (NYSE:CCJ): $463 million (7.5% of AUM)
- Royalty Pharma (NASDAQ:RPRX): $266 million (4.3% of AUM)
As of Dec. 4, 2025, Coursera shares were priced at $8.41, flat over the prior year and underperforming the S&P 500 by 13 percentage points.
Coursera's 5-year revenue CAGR is 30%.
Company Overview
| Metric | Value |
|---|---|
| Market Capitalization | $1.4 billion |
| Revenue (TTM) | $739.78 million |
| Net Income (TTM) | ($45.81 million) |
| Price (as of market close 2025-12-4) | $8.41 |
Company Snapshot
Coursera:
- Offers online courses, degree programs, professional certificates, and campus solutions spanning various fields, including data science, business, computer science, health, and digital marketing.
- Serves individual learners, higher education institutions, and organizations seeking workforce upskilling and credentialing solutions.
- Partners with universities and industry leaders to deliver content and credentials to a global audience.
Coursera, Inc. operates an online educational content platform that connects learners, educators, organizations, and institutions.
Its broad catalog and institutional relationships support its position in the online education and workforce training sector.
Foolish take
Caledonia (Private) Investments' purchase of Coursera is an interesting one for investors to monitor.
First, the investment is a significant bet against the notion that artificial intelligence (AI) will disrupt the online learning industry. With Coursera's sales growth rate slowing from 30% annually over the last five years to a 10% increase in its latest quarter, questions remain as to whether AI will hinder, or perhaps help the stock over the long haul.
Second, Caledonia purchased shares of Coursera while the stock traded near its 52-week high. With the stock now down roughly 30% from this purchase price, the stock could be attractively priced today.
From a Foolish perspective, there is a lot to like about the business, and it could become a promising value stock.
That said, due to the massive AI overhang, hefty stock-based compensation weighing on profits, and decelerating sales growth, I'd rather watch from the sidelines on this one.
However, with a partnership in place with Anthropic and being integrated with OpenAI's ChatGPT, Coursera won't be blindsided by the AI revolution -- and could stand to benefit from it.
Ultimately, the company represents a classic high-risk, high-reward investment that makes perfect sense for a large institutional investor like Caledonia to buy.
Glossary
13F reportable assets: Assets that institutional investment managers must disclose in quarterly SEC Form 13F filings.
Assets under management (AUM): The total market value of investments managed on behalf of clients by a fund or firm.
Net position change: The difference in the number or value of shares held in a security after a transaction.
Quarter-end: The last day of a fiscal quarter, used as a reference point for financial reporting.
Trailing twelve months (TTM): The 12 months ending with the most recent quarterly report.
CAGR: Compound Annual Growth Rate; the average annual growth rate of an investment over a specified period.
Outperforming: Achieving a better return or result compared to a benchmark or peer group.
Fund holding: A security or asset owned by an investment fund.
Position value: The total market value of a specific investment holding at a given time.
Buy (executed a buy): The act of purchasing additional shares or assets for a portfolio.
Credentialing solutions: Services that provide official recognition or certification of skills and knowledge.
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Josh Kohn-Lindquist has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Cameco and Zillow Group. The Motley Fool recommends Flutter Entertainment Plc. The Motley Fool has a disclosure policy.
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