Victory Capital Management Inc. Buys New Shares in Udemy, Inc. (NASDAQ:UDMY)

Victory Capital Management Inc. purchased a new position in shares of Udemy, Inc. (NASDAQ:UDMY) during the 3rd quarter, HoldingsChannel reports. The firm purchased 10,031 shares of the company’s stock, valued at approximately $75,000.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Udemy by 1.2% during the first quarter. Vanguard Group Inc. now owns 9,472,216 shares of the company’s stock worth $104,005,000 after buying an additional 116,346 shares during the period. Sea Cliff Partners Management LP grew its holdings in Udemy by 27.9% during the 2nd quarter. Sea Cliff Partners Management LP now owns 3,725,865 shares of the company’s stock worth $32,154,000 after acquiring an additional 811,702 shares in the last quarter. Industry Ventures L.L.C. purchased a new stake in shares of Udemy in the 2nd quarter valued at approximately $3,452,000. Bank of New York Mellon Corp raised its holdings in shares of Udemy by 18.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 330,044 shares of the company’s stock valued at $2,848,000 after purchasing an additional 50,473 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in shares of Udemy by 106.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 242,791 shares of the company’s stock worth $1,806,000 after purchasing an additional 125,235 shares during the last quarter. Institutional investors and hedge funds own 79.48% of the company’s stock.

Udemy Stock Down 1.1 %

Shares of UDMY stock opened at $7.96 on Monday. The stock’s 50-day moving average price is $7.97 and its 200 day moving average price is $8.20. The stock has a market capitalization of $1.16 billion, a PE ratio of -12.63 and a beta of 1.95. Udemy, Inc. has a 52-week low of $6.67 and a 52-week high of $16.01.

Udemy (NASDAQ:UDMY) last released its earnings results on Tuesday, October 29th. The company reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.06. Udemy had a negative return on equity of 29.36% and a negative net margin of 12.33%. The business had revenue of $195.42 million for the quarter, compared to analyst estimates of $192.69 million. During the same quarter in the previous year, the company posted ($0.10) earnings per share. The company’s revenue for the quarter was up 5.8% compared to the same quarter last year. Analysts expect that Udemy, Inc. will post -0.47 earnings per share for the current fiscal year.

Insider Buying and Selling at Udemy

In other Udemy news, CEO Gregory Scott Brown sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $8.50, for a total transaction of $85,000.00. Following the transaction, the chief executive officer now owns 1,203,727 shares in the company, valued at approximately $10,231,679.50. The trade was a 0.82 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CTO Eren Bali sold 35,518 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $9.00, for a total value of $319,662.00. Following the transaction, the chief technology officer now directly owns 2,225,532 shares of the company’s stock, valued at approximately $20,029,788. This trade represents a 1.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.20% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Morgan Stanley cut Udemy from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $10.00 to $7.50 in a research note on Friday, September 27th. Cantor Fitzgerald lowered their price target on Udemy from $18.00 to $11.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. Canaccord Genuity Group initiated coverage on shares of Udemy in a research note on Thursday, August 8th. They issued a “buy” rating and a $12.00 price target on the stock. Needham & Company LLC reduced their price objective on shares of Udemy from $15.00 to $11.00 and set a “buy” rating for the company in a research report on Wednesday, October 30th. Finally, Canaccord Genuity Group started coverage on shares of Udemy in a research report on Thursday, August 8th. They issued a “buy” rating and a $12.00 target price on the stock. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $11.00.

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.