Fox Run Management L.L.C. Acquires 43,044 Shares of Udemy, Inc. (NASDAQ:UDMY)

Fox Run Management L.L.C. increased its holdings in shares of Udemy, Inc. (NASDAQ:UDMY) by 280.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 58,409 shares of the company’s stock after purchasing an additional 43,044 shares during the quarter. Fox Run Management L.L.C.’s holdings in Udemy were worth $481,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of UDMY. Victory Capital Management Inc. acquired a new position in shares of Udemy in the third quarter valued at approximately $75,000. Intech Investment Management LLC bought a new position in Udemy during the 3rd quarter worth about $161,000. Charles Schwab Investment Management Inc. increased its holdings in Udemy by 3.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 761,920 shares of the company’s stock worth $5,669,000 after purchasing an additional 27,959 shares in the last quarter. Algert Global LLC raised its stake in shares of Udemy by 45.0% in the 3rd quarter. Algert Global LLC now owns 346,062 shares of the company’s stock valued at $2,575,000 after purchasing an additional 107,390 shares during the period. Finally, FMR LLC lifted its holdings in shares of Udemy by 2.8% in the third quarter. FMR LLC now owns 1,330,073 shares of the company’s stock valued at $9,896,000 after purchasing an additional 36,380 shares in the last quarter. 79.48% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Needham & Company LLC reissued a “buy” rating and issued a $11.00 target price on shares of Udemy in a research report on Wednesday, March 12th. Morgan Stanley boosted their price objective on shares of Udemy from $7.50 to $9.00 and gave the stock an “underweight” rating in a research report on Thursday, February 20th. Scotiabank began coverage on shares of Udemy in a research report on Thursday, December 5th. They issued a “sector outperform” rating and a $10.00 target price for the company. William Blair cut shares of Udemy from an “outperform” rating to a “market perform” rating in a research report on Wednesday, March 12th. Finally, Canaccord Genuity Group increased their price objective on shares of Udemy from $12.00 to $14.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $10.95.

Insider Activity at Udemy

In related news, major shareholder Ltd Naspers sold 3,200,000 shares of Udemy stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $7.84, for a total transaction of $25,088,000.00. Following the completion of the sale, the insider now owns 13,920,840 shares of the company’s stock, valued at approximately $109,139,385.60. The trade was a 18.69 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Heather Hiles sold 14,840 shares of the company’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $9.81, for a total transaction of $145,580.40. Following the completion of the transaction, the director now owns 42,667 shares in the company, valued at approximately $418,563.27. This trade represents a 25.81 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 3,304,322 shares of company stock worth $26,033,418. Company insiders own 3.20% of the company’s stock.

Udemy Price Performance

Shares of UDMY opened at $8.70 on Wednesday. The company has a market cap of $1.29 billion, a PE ratio of -15.26 and a beta of 1.76. The firm has a 50-day moving average of $8.58 and a 200-day moving average of $8.25. Udemy, Inc. has a one year low of $6.67 and a one year high of $11.60.

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

Udemy 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.