Olympiad Research LP Purchases Shares of 22,875 Udemy, Inc. (NASDAQ:UDMY)

Olympiad Research LP purchased a new stake in shares of Udemy, Inc. (NASDAQ:UDMY) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 22,875 shares of the company’s stock, valued at approximately $188,000.

Other large investors have also made changes to their positions in the company. Point72 DIFC Ltd bought a new stake in shares of Udemy during the 3rd quarter valued at about $30,000. Nisa Investment Advisors LLC grew its stake in shares of Udemy by 496.7% during the 4th quarter. Nisa Investment Advisors LLC now owns 7,220 shares of the company’s stock valued at $59,000 after purchasing an additional 6,010 shares during the period. Victory Capital Management Inc. bought a new stake in shares of Udemy during the 3rd quarter valued at about $75,000. Falcon Wealth Planning bought a new position in shares of Udemy during the 4th quarter valued at approximately $85,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Udemy during the 3rd quarter valued at approximately $103,000. 79.48% of the stock is currently owned by institutional investors.

Insider Transactions at Udemy

In related news, CTO Eren Bali sold 69,482 shares of the stock in a transaction on Friday, February 14th. The stock was sold at an average price of $9.00, for a total transaction of $625,338.00. Following the sale, the chief technology officer now owns 2,156,050 shares in the company, valued at approximately $19,404,450. This represents a 3.12 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Gregory Scott Brown sold 10,000 shares of the stock in a transaction on Friday, December 6th. The shares were sold at an average price of $8.71, for a total value of $87,100.00. Following the sale, the chief executive officer now owns 1,183,086 shares in the company, valued at $10,304,679.06. The trade was a 0.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,294,322 shares of company stock valued at $25,946,018 in the last ninety days. Corporate insiders own 3.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on UDMY. Cantor Fitzgerald cut their price objective on Udemy from $18.00 to $11.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. Needham & Company LLC reiterated a “buy” rating and set a $11.00 price objective on shares of Udemy in a research note on Friday, February 14th. Morgan Stanley boosted their price objective on Udemy from $7.50 to $9.00 and gave the company an “underweight” rating in a research note on Thursday. Canaccord Genuity Group boosted their price objective on Udemy from $12.00 to $14.00 and gave the company a “buy” rating in a research note on Friday, February 14th. Finally, Scotiabank assumed coverage on Udemy in a research note on Thursday, December 5th. They issued a “sector outperform” rating and a $10.00 price target for the company. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $10.95.

Udemy Price Performance

Shares of UDMY opened at $9.78 on Monday. The stock has a market capitalization of $1.44 billion, a price-to-earnings ratio of -17.16 and a beta of 1.85. Udemy, Inc. has a 1 year low of $6.67 and a 1 year high of $11.65. The business’s 50 day simple moving average is $8.23 and its 200-day simple moving average is $8.07.

Udemy (NASDAQ:UDMY) last issued its quarterly earnings data on Thursday, February 13th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.10). The firm had revenue of $199.94 million for the quarter, compared to analysts’ expectations of $194.70 million. Udemy had a negative return on equity of 27.93% and a negative net margin of 10.84%. On average, sell-side analysts expect that Udemy, Inc. will post -0.09 earnings per share for the current year.

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.