Udemy, Inc. (NASDAQ:UDMY) Shares Bought by AlphaQuest LLC

AlphaQuest LLC lifted its stake in shares of Udemy, Inc. (NASDAQ:UDMY) by 82,500.0% during the fourth quarter, Holdings Channel reports. The firm owned 34,692 shares of the company’s stock after buying an additional 34,650 shares during the period. AlphaQuest LLC’s holdings in Udemy were worth $286,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in the stock. SBI Securities Co. Ltd. bought a new position in Udemy during the 4th quarter worth $31,000. Point72 DIFC Ltd bought a new position in shares of Udemy during the third quarter worth about $30,000. Nisa Investment Advisors LLC increased its holdings in shares of Udemy by 496.7% in the 4th quarter. Nisa Investment Advisors LLC now owns 7,220 shares of the company’s stock worth $59,000 after acquiring an additional 6,010 shares during the period. Victory Capital Management Inc. bought a new stake in Udemy in the 3rd quarter valued at about $75,000. Finally, Falcon Wealth Planning acquired a new position in Udemy during the 4th quarter valued at about $85,000. Institutional investors own 79.48% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on UDMY. Scotiabank started coverage on shares of Udemy in a research note on Thursday, December 5th. They issued a “sector outperform” rating and a $10.00 price target on the stock. Morgan Stanley raised their target price on Udemy from $7.50 to $9.00 and gave the company an “underweight” rating in a research report on Thursday, February 20th. Needham & Company LLC reiterated a “buy” rating and set a $11.00 price target on shares of Udemy in a research report on Wednesday. William Blair lowered Udemy from an “outperform” rating to a “market perform” rating in a report on Wednesday. Finally, Canaccord Genuity Group lifted their price objective on shares of Udemy from $12.00 to $14.00 and gave the company a “buy” rating in a research note on Friday, February 14th. One analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, Udemy currently has a consensus rating of “Moderate Buy” and an average price target of $10.95.

Udemy Stock Performance

Shares of NASDAQ:UDMY opened at $8.20 on Friday. The stock has a market capitalization of $1.21 billion, a price-to-earnings ratio of -14.39 and a beta of 1.76. Udemy, Inc. has a 1-year low of $6.67 and a 1-year high of $11.60. The company has a 50 day moving average price of $8.57 and a 200 day moving average price of $8.23.

Udemy (NASDAQ:UDMY) last released its quarterly earnings data on Thursday, February 13th. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.10). The company had revenue of $199.94 million for the quarter, compared to the consensus estimate 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 EPS for the current fiscal year.

Insider Buying and Selling

In other news, major shareholder Ltd Naspers sold 3,200,000 shares of Udemy stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $7.84, for a total transaction of $25,088,000.00. Following the transaction, the insider now owns 13,920,840 shares in the company, valued at approximately $109,139,385.60. The trade was a 18.69 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Heather Hiles sold 14,840 shares of the company’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $9.81, for a total value of $145,580.40. Following the transaction, the director now directly owns 42,667 shares in the company, valued at $418,563.27. The trade was a 25.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 3,294,322 shares of company stock valued at $25,953,218. 3.20% of the stock is owned by corporate insiders.

About Udemy

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.