SCHEDULE: Pale Fire Capital Discloses Coursera Stake

Pale Fire Capital and associated entities report beneficial ownership of 10.9% of Coursera, Inc. common stock.

Summary

• Pale Fire Capital SICAV a.s., along with Pale Fire Capital investicni spolecnost a.s., Pale Fire Capital SE, Dusan Senkypl, and Jan Barta, have filed a Schedule 13G.
• This filing indicates that as of September 25, 2026, these entities collectively beneficially own 28,806,415 shares of Coursera, Inc. common stock.
• This represents approximately 10.9% of the outstanding shares, based on 264,400,000 shares outstanding as of July 29, 2026.
• The filing clarifies the relationships, with PFC IS managing PFC SICAV, Pale Fire Capital being the sole shareholder of both, and Messrs. Senkypl and Barta being control persons of Pale Fire Capital.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this filing as neutral, as it primarily reports a change in beneficial ownership without providing new operational or financial performance data.

Positives

• Significant stake held by Pale Fire Capital entities, indicating substantial investor interest.
• Clear disclosure of beneficial ownership structure and relationships between reporting entities.

Negatives

• No new operational or financial performance data is provided in this filing.
• The filing does not offer insights into the strategy or future performance of Coursera, Inc.

Risks

• Potential for future changes in beneficial ownership by Pale Fire Capital entities could impact share price.
• Concentration of ownership by a single group could influence corporate governance decisions.

Future Outlook

This filing does not contain forward-looking statements or guidance regarding Coursera, Inc.'s future performance.

Management Comments

• Each of the Reporting Persons specifically disclaims beneficial ownership of the securities reported herein that he or it does not directly own.
• The filing of this Schedule 13G shall not be deemed an admission that the Reporting Persons are, for purposes of Section 13(d) of the Securities Exchange Act of 1934, as amended, the beneficial owners of any securities of the Issuer that such Reporting Person does not directly own.

Industry Context

StockSavvy.ai notes that significant ownership filings like this Schedule 13G are common in the technology and education sectors, reflecting active institutional and strategic investor interest in companies like Coursera.

Stakeholder Impact

• Shareholders: May observe increased market attention due to the significant stake held by Pale Fire Capital, potentially influencing trading activity.
• Management of Coursera, Inc.: May need to engage with Pale Fire Capital regarding their investment strategy and potential influence on corporate decisions.

Next Steps

• Monitoring future filings from Pale Fire Capital entities for any changes in their stake in Coursera, Inc.
• Observing Coursera, Inc.'s operational and financial performance reports for insights into the company's strategic direction.

Key Dates

Keywords

Coursera, Pale Fire Capital, Schedule 13G, Beneficial Ownership, Investment Management, Shareholder