Udemy, Inc. (NASDAQ:UDMY) Shares Bought by Vanguard Group Inc.

Vanguard Group Inc. lifted its holdings in shares of Udemy, Inc. (NASDAQ:UDMY) by 5.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,355,870 shares of the company’s stock after buying an additional 495,380 shares during the quarter. Vanguard Group Inc. owned approximately 5.92% of Udemy worth $137,812,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Daiwa Securities Group Inc. raised its position in Udemy by 261.1% during the fourth quarter. Daiwa Securities Group Inc. now owns 4,730 shares of the company’s stock worth $70,000 after acquiring an additional 3,420 shares during the period. RIA Advisory Group LLC purchased a new stake in shares of Udemy during the fourth quarter worth about $76,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Udemy by 5.6% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,903 shares of the company’s stock worth $205,000 after purchasing an additional 732 shares during the last quarter. Premier Fund Managers Ltd purchased a new position in Udemy in the 4th quarter valued at about $241,000. Finally, AXQ Capital LP acquired a new stake in Udemy in the 3rd quarter worth about $160,000. Hedge funds and other institutional investors own 79.48% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Jefferies Financial Group decreased their target price on Udemy from $14.00 to $11.00 and set a “hold” rating on the stock in a research report on Monday, April 29th. Morgan Stanley lowered their target price on shares of Udemy from $15.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Friday, April 19th. Robert W. Baird reduced their target price on shares of Udemy from $15.00 to $13.00 and set an “outperform” rating for the company in a research report on Friday, May 3rd. Cantor Fitzgerald restated an “overweight” rating and set a $20.00 price target on shares of Udemy in a research report on Friday, May 3rd. Finally, KeyCorp dropped their price target on Udemy from $15.00 to $14.00 and set an “overweight” rating for the company in a research report on Friday, May 3rd. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $13.90.

Insiders Place Their Bets

In other news, CEO Gregory Scott Brown sold 10,000 shares of the company’s stock in a transaction on Friday, June 28th. 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 owns 1,273,406 shares of the company’s stock, valued at $10,823,951. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Gregory Scott Brown sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The shares were 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 1,273,406 shares in the company, valued at $10,823,951. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Sarah Blanchard sold 45,000 shares of Udemy stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $9.53, for a total transaction of $428,850.00. Following the completion of the transaction, the chief financial officer now owns 1,096,663 shares of the company’s stock, valued at approximately $10,451,198.39. The disclosure for this sale can be found here. Insiders have sold a total of 64,486 shares of company stock worth $604,441 in the last ninety days. 3.20% of the stock is owned by corporate insiders.

Udemy Stock Performance

Udemy stock opened at $8.64 on Friday. The firm has a 50 day moving average price of $9.09 and a 200 day moving average price of $11.16. Udemy, Inc. has a fifty-two week low of $7.91 and a fifty-two week high of $16.01. The company has a market capitalization of $1.32 billion, a PE ratio of -16.30 and a beta of 2.00.

Udemy (NASDAQ:UDMY) last posted its quarterly earnings data on Thursday, May 2nd. The company reported ($0.11) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.02. The firm had revenue of $196.85 million for the quarter, compared to the consensus estimate of $194.83 million. Udemy had a negative return on equity of 23.10% and a negative net margin of 10.82%. As a group, equities research analysts forecast that Udemy, Inc. will post -0.45 earnings per share for the current year.

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.