Dimensional Fund Advisors LP Grows Stock Holdings in Udemy, Inc. (NASDAQ:UDMY)

Dimensional Fund Advisors LP raised its stake in Udemy, Inc. (NASDAQ:UDMY) by 278.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 86,005 shares of the company’s stock after buying an additional 63,251 shares during the period. Dimensional Fund Advisors LP’s holdings in Udemy were worth $741,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in UDMY. Quest Partners LLC boosted its position in Udemy by 6,957.5% in the 2nd quarter. Quest Partners LLC now owns 8,963 shares of the company’s stock valued at $77,000 after buying an additional 8,836 shares during the period. Natixis lifted its position in shares of Udemy by 60.8% in the 1st quarter. Natixis now owns 8,967 shares of the company’s stock worth $99,000 after purchasing an additional 3,391 shares during the period. Principal Financial Group Inc. lifted its position in shares of Udemy by 18.8% in the 1st quarter. Principal Financial Group Inc. now owns 12,053 shares of the company’s stock worth $132,000 after purchasing an additional 1,904 shares during the period. ProShare Advisors LLC lifted its position in shares of Udemy by 10.7% in the 1st quarter. ProShare Advisors LLC now owns 16,109 shares of the company’s stock worth $177,000 after purchasing an additional 1,553 shares during the period. Finally, Arizona State Retirement System lifted its position in shares of Udemy by 24.4% in the 2nd quarter. Arizona State Retirement System now owns 23,597 shares of the company’s stock worth $204,000 after purchasing an additional 4,635 shares during the period. 79.48% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Cantor Fitzgerald raised shares of Udemy to a “strong-buy” rating in a research report on Tuesday, August 13th. Truist Financial lowered their price target on shares of Udemy from $15.00 to $10.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. Needham & Company LLC reaffirmed a “buy” rating and issued a $15.00 price target on shares of Udemy in a research report on Thursday, August 1st. Canaccord Genuity Group assumed coverage on shares of Udemy in a research report on Thursday, August 8th. They issued a “buy” rating and a $12.00 price target for the company. Finally, Morgan Stanley cut shares of Udemy from an “equal weight” rating to an “underweight” rating and lowered their price target for the stock from $10.00 to $7.50 in a research report on Friday, September 27th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Udemy has an average rating of “Moderate Buy” and an average price target of $11.92.

Insider Buying and Selling at Udemy

In other Udemy news, Director Eren Bali sold 15,000 shares of the company’s 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 transaction, the director now owns 1,639,477 shares in the company, valued at approximately $14,919,240.70. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director Eren Bali sold 15,000 shares of the stock in a transaction on Friday, July 26th. The shares were sold at an average price of $9.10, for a total value of $136,500.00. Following the sale, the director now owns 1,639,477 shares in the company, valued at $14,919,240.70. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Sarah Blanchard sold 45,000 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $8.05, for a total transaction of $362,250.00. Following the completion of the sale, the chief financial officer now owns 1,001,761 shares in the company, valued at $8,064,176.05. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 61,000 shares of company stock worth $505,830. 3.20% of the stock is owned by corporate insiders.

Udemy Stock Up 3.1 %

NASDAQ:UDMY opened at $7.86 on Monday. Udemy, Inc. has a 52 week low of $6.67 and a 52 week high of $16.01. The firm has a 50 day moving average of $7.75 and a 200 day moving average of $8.73. The stock has a market capitalization of $1.18 billion, a price-to-earnings ratio of -13.79 and a beta of 1.97.

Udemy (NASDAQ:UDMY) last issued its quarterly earnings results on Wednesday, July 31st. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of $194.36 million for the quarter, compared to analyst estimates of $194.17 million. As a group, analysts expect that Udemy, Inc. will post -0.52 EPS 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.