Harbor Capital Advisors Inc. Decreases Stock Holdings in Udemy, Inc. (NASDAQ:UDMY)

Harbor Capital Advisors Inc. lowered its stake in Udemy, Inc. (NASDAQ:UDMY) by 23.2% during the 4th quarter, HoldingsChannel reports. The firm owned 15,702 shares of the company’s stock after selling 4,731 shares during the period. Harbor Capital Advisors Inc.’s holdings in Udemy were worth $129,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in UDMY. Point72 DIFC Ltd bought a new position in shares of Udemy during the 3rd quarter valued at $30,000. Ariadne Wealth Management LP purchased a new stake in Udemy during the second quarter valued at $67,000. Quest Partners LLC lifted its holdings in Udemy by 6,957.5% in the second quarter. Quest Partners LLC now owns 8,963 shares of the company’s stock valued at $77,000 after acquiring an additional 8,836 shares during the period. Victory Capital Management Inc. bought a new position in Udemy in the third quarter valued at about $75,000. Finally, XTX Topco Ltd purchased a new position in Udemy in the second quarter worth about $93,000. Institutional investors own 79.48% of the company’s stock.

Insider Activity at Udemy

In other news, CEO Gregory Scott Brown sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $8.50, for a total transaction of $85,000.00. Following the sale, the chief executive officer now directly owns 1,203,727 shares of the company’s stock, valued at $10,231,679.50. This represents a 0.82 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Eren Bali sold 35,518 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $9.00, for a total value of $319,662.00. Following the transaction, the chief technology officer now owns 2,225,532 shares of the company’s stock, valued at $20,029,788. This represents a 1.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 55,518 shares of company stock valued at $491,762. Insiders own 3.20% of the company’s stock.

Udemy Stock Performance

UDMY opened at $8.55 on Thursday. The stock has a market capitalization of $1.25 billion, a price-to-earnings ratio of -13.57 and a beta of 1.87. The company has a fifty day moving average of $8.21 and a 200 day moving average of $8.10. Udemy, Inc. has a fifty-two week low of $6.67 and a fifty-two week high of $14.74.

Udemy (NASDAQ:UDMY) last released its quarterly earnings data on Tuesday, October 29th. The company reported $0.07 EPS for the quarter, beating the consensus estimate of $0.01 by $0.06. Udemy had a negative net margin of 12.33% and a negative return on equity of 29.36%. The business had revenue of $195.42 million during the quarter, compared to the consensus estimate of $192.69 million. During the same quarter in the prior year, the firm earned ($0.10) EPS. The business’s revenue was up 5.8% on a year-over-year basis. On average, equities research analysts forecast that Udemy, Inc. will post -0.47 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have commented on UDMY. Cantor Fitzgerald reduced their price target on Udemy from $18.00 to $11.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. Scotiabank started coverage on shares of Udemy in a report on Thursday, December 5th. They set a “sector outperform” rating and a $10.00 price target on the stock. Morgan Stanley lowered shares of Udemy from an “equal weight” rating to an “underweight” rating and dropped their price target for the stock from $10.00 to $7.50 in a research report on Friday, September 27th. Finally, Needham & Company LLC decreased their price objective on shares of Udemy from $15.00 to $11.00 and set a “buy” rating on the stock in a research report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $10.92.

Udemy Company Profile

Udemy, Inc, a learning company, that operates a marketplace platform for learning skills in the United States and internationally. The company offers skill acquisition, development, and validation courses for organizations and individuals, through direct-to-consumer or Udemy Business offerings in various languages.