Fmr LLC Grows Stake in Udemy, Inc. (NASDAQ:UDMY)

Fmr LLC raised its stake in Udemy, Inc. (NASDAQ:UDMY) by 2.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,330,073 shares of the company’s stock after acquiring an additional 36,380 shares during the quarter. Fmr LLC’s holdings in Udemy were worth $9,896,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Ariadne Wealth Management LP purchased a new position in Udemy in the second quarter valued at about $67,000. Victory Capital Management Inc. purchased a new position in Udemy in the third quarter valued at about $75,000. Quest Partners LLC raised its position in shares of Udemy by 6,957.5% in the second quarter. Quest Partners LLC now owns 8,963 shares of the company’s stock valued at $77,000 after purchasing an additional 8,836 shares during the period. XTX Topco Ltd bought a new stake in shares of Udemy in the second quarter valued at approximately $93,000. Finally, Renaissance Technologies LLC bought a new stake in shares of Udemy in the second quarter valued at approximately $133,000. 79.48% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Udemy

In other news, CTO Eren Bali sold 35,518 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $9.00, for a total value of $319,662.00. Following the completion of the sale, the chief technology officer now owns 2,225,532 shares of the company’s stock, valued at approximately $20,029,788. This represents a 1.57 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Gregory Scott Brown sold 10,000 shares of the company’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $8.50, for a total transaction of $85,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,203,727 shares of the company’s stock, valued at $10,231,679.50. This trade represents a 0.82 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 55,518 shares of company stock valued at $491,762 in the last quarter. Insiders own 3.20% of the company’s stock.

Wall Street Analysts Forecast Growth

UDMY has been the topic of several research reports. Scotiabank initiated coverage on shares of Udemy in a research report on Thursday, December 5th. They issued a “sector outperform” rating and a $10.00 price target on the stock. Morgan Stanley lowered shares of Udemy from an “equal weight” rating to an “underweight” rating and lowered their price target for the company from $10.00 to $7.50 in a research report on Friday, September 27th. Cantor Fitzgerald lowered their price target on shares of Udemy from $18.00 to $11.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th. Finally, Needham & Company LLC lowered their price target on shares of Udemy from $15.00 to $11.00 and set a “buy” rating on the stock in a research report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $10.92.

Udemy Trading Down 1.4 %

Udemy stock opened at $8.38 on Thursday. The firm’s 50 day simple moving average is $8.09 and its 200 day simple moving average is $8.15. The firm has a market capitalization of $1.22 billion, a PE ratio of -13.30 and a beta of 1.91. Udemy, Inc. has a 1-year low of $6.67 and a 1-year high of $16.01.

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

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.