Rhumbline Advisers Acquires 11,699 Shares of Udemy, Inc. (NASDAQ:UDMY)

Rhumbline Advisers raised its position in shares of Udemy, Inc. (NASDAQ:UDMY) by 9.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 131,847 shares of the company’s stock after purchasing an additional 11,699 shares during the period. Rhumbline Advisers owned 0.09% of Udemy worth $1,138,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Natixis lifted its position in shares of Udemy by 60.8% during the first quarter. Natixis now owns 8,967 shares of the company’s stock worth $99,000 after acquiring an additional 3,391 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Udemy by 18.8% in the first quarter. Principal Financial Group Inc. now owns 12,053 shares of the company’s stock worth $132,000 after buying an additional 1,904 shares in the last quarter. Premier Fund Managers Ltd purchased a new stake in shares of Udemy in the fourth quarter worth $241,000. ProShare Advisors LLC raised its position in shares of Udemy by 10.7% in the first quarter. ProShare Advisors LLC now owns 16,109 shares of the company’s stock worth $177,000 after buying an additional 1,553 shares in the last quarter. Finally, Virtu Financial LLC purchased a new stake in shares of Udemy in the fourth quarter worth $314,000. 79.48% of the stock is owned by institutional investors.

Udemy Price Performance

Shares of UDMY opened at $8.28 on Monday. Udemy, Inc. has a one year low of $6.67 and a one year high of $16.01. The company has a 50-day simple moving average of $8.04 and a two-hundred day simple moving average of $9.08. The firm has a market capitalization of $1.27 billion, a PE ratio of -15.62 and a beta of 1.99.

Udemy (NASDAQ:UDMY) last released its earnings results on Wednesday, July 31st. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.07). Udemy had a negative net margin of 11.39% and a negative return on equity of 26.62%. The business had revenue of $194.36 million for the quarter, compared to analysts’ expectations of $194.17 million. Analysts expect that Udemy, Inc. will post -0.52 EPS for the current fiscal year.

Insider Activity

In other news, Director Eren Bali sold 15,000 shares of Udemy stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $9.10, for a total transaction of $136,500.00. Following the completion of the transaction, the director now directly owns 1,639,477 shares in the company, valued at $14,919,240.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Gregory Scott Brown sold 10,000 shares of the business’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 value of $85,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,273,406 shares in the company, valued at approximately $10,823,951. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Eren Bali sold 15,000 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $9.10, for a total transaction of $136,500.00. Following the completion of the transaction, the director now owns 1,639,477 shares of the company’s stock, valued at $14,919,240.70. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 72,000 shares of company stock worth $599,430. Insiders own 3.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on UDMY. Cantor Fitzgerald upgraded Udemy to a “strong-buy” rating in a research report on Tuesday, August 13th. Robert W. Baird lowered their price target on Udemy from $13.00 to $11.00 and set an “outperform” rating on the stock in a research report on Thursday, August 1st. Needham & Company LLC reaffirmed a “buy” rating and set a $15.00 price objective on shares of Udemy in a research note on Thursday, August 1st. Canaccord Genuity Group initiated coverage on Udemy in a research note on Thursday, August 8th. They set a “buy” rating and a $12.00 price objective on the stock. Finally, KeyCorp reduced their price objective on Udemy from $14.00 to $13.00 and set an “overweight” rating on the stock in a research note on Monday, July 22nd. Five analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Udemy presently has a consensus rating of “Moderate Buy” and an average target price of $12.38.

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.