Daiwa Securities Group Inc. Cuts Stock Holdings in Udemy, Inc. (NASDAQ:UDMY)

Daiwa Securities Group Inc. reduced its position in Udemy, Inc. (NASDAQ:UDMY) by 28.5% in the first quarter, Holdings Channel.com reports. The fund owned 3,380 shares of the company’s stock after selling 1,350 shares during the period. Daiwa Securities Group Inc.’s holdings in Udemy were worth $37,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in UDMY. Sea Cliff Partners Management LP bought a new stake in shares of Udemy in the 4th quarter worth $25,661,000. Inflection Point Investments LLP bought a new stake in Udemy in the 4th quarter worth about $21,390,000. Vanguard Group Inc. raised its position in Udemy by 19.3% in the 3rd quarter. Vanguard Group Inc. now owns 8,860,490 shares of the company’s stock worth $84,175,000 after buying an additional 1,433,980 shares during the last quarter. Pathway Capital Management LP bought a new position in Udemy during the 4th quarter valued at about $3,983,000. Finally, Federated Hermes Inc. bought a new position in Udemy during the 4th quarter valued at about $3,303,000. 79.48% of the stock is owned by institutional investors.

Udemy Stock Performance

Shares of UDMY opened at $8.32 on Friday. The business has a 50-day simple moving average of $8.87 and a two-hundred day simple moving average of $10.85. Udemy, Inc. has a 52 week low of $7.91 and a 52 week high of $16.01.

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

Insider Transactions at Udemy

In related news, CTO Venu Venugopal sold 7,086 shares of Udemy stock in a transaction on Friday, May 17th. The shares were sold at an average price of $9.89, for a total transaction of $70,080.54. Following the transaction, the chief technology officer now owns 429,927 shares in the company, valued at approximately $4,251,978.03. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Udemy news, CFO Sarah Blanchard sold 45,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $9.53, for a total value of $428,850.00. Following the completion of the transaction, the chief financial officer now directly owns 1,096,663 shares in the company, valued at approximately $10,451,198.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Venu Venugopal sold 7,086 shares of the stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $9.89, for a total transaction of $70,080.54. Following the sale, the chief technology officer now directly owns 429,927 shares of the company’s stock, valued at $4,251,978.03. The disclosure for this sale can be found here. Insiders sold a total of 64,486 shares of company stock valued at $604,441 over the last three months. Corporate insiders own 3.20% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Needham & Company LLC reissued a “buy” rating and set a $15.00 price objective on shares of Udemy in a report on Friday, May 3rd. Cantor Fitzgerald reiterated an “overweight” rating and set a $20.00 target price on shares of Udemy in a research note on Friday, May 3rd. KeyCorp dropped their price target on Udemy from $15.00 to $14.00 and set an “overweight” rating on the stock in a research note on Friday, May 3rd. Morgan Stanley reduced their price objective on Udemy from $15.00 to $13.00 and set an “equal weight” rating for the company in a research report on Friday, April 19th. Finally, Jefferies Financial Group dropped 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. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Udemy currently has an average rating of “Moderate Buy” and an average target price of $13.90.

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.