Nisa Investment Advisors LLC Increases Position in Udemy, Inc. (NASDAQ:UDMY)

Nisa Investment Advisors LLC lifted its holdings in shares of Udemy, Inc. (NASDAQ:UDMY) by 496.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,220 shares of the company’s stock after acquiring an additional 6,010 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Udemy were worth $59,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of UDMY. Point72 DIFC Ltd bought a new position in Udemy in the 3rd quarter valued at $30,000. Victory Capital Management Inc. purchased a new position in shares of Udemy in the 3rd quarter worth about $75,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Udemy during the third quarter valued at about $103,000. Renaissance Technologies LLC bought a new position in Udemy during the second quarter valued at about $133,000. Finally, Mirador Capital Partners LP purchased a new stake in Udemy during the fourth quarter worth about $148,000. 79.48% of the stock is currently owned by institutional investors.

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 Friday, December 6th. The shares were sold at an average price of $8.71, for a total value of $87,100.00. Following the completion of the transaction, the chief executive officer now owns 1,183,086 shares of the company’s stock, valued at $10,304,679.06. The trade was a 0.84 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Ltd Naspers sold 3,200,000 shares of the firm’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $7.84, for a total transaction of $25,088,000.00. Following the sale, the insider now owns 13,920,840 shares in the company, valued at approximately $109,139,385.60. This trade represents a 18.69 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,245,518 shares of company stock valued at $25,494,762 in the last 90 days. Corporate insiders own 3.20% of the company’s stock.

Udemy Price Performance

NASDAQ UDMY opened at $7.48 on Friday. The company’s 50 day simple moving average is $8.15 and its two-hundred day simple moving average is $8.05. Udemy, Inc. has a 1 year low of $6.67 and a 1 year high of $14.74. The stock has a market capitalization of $1.09 billion, a PE ratio of -11.87 and a beta of 1.87.

Udemy (NASDAQ:UDMY) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.06. The company had revenue of $195.42 million during the quarter, compared to analyst estimates of $192.69 million. Udemy had a negative return on equity of 29.36% and a negative net margin of 12.33%. The firm’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter last year, the company earned ($0.10) earnings per share. On average, research analysts anticipate that Udemy, Inc. will post -0.47 EPS for the current year.

Analyst Ratings Changes

A number of research firms have recently weighed in on UDMY. Cantor Fitzgerald reduced their target price on shares of Udemy from $18.00 to $11.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. Needham & Company LLC reiterated a “buy” rating and issued a $11.00 price objective on shares of Udemy in a research note on Friday, January 17th. Finally, Scotiabank initiated coverage on Udemy in a research report on Thursday, December 5th. They issued a “sector outperform” rating and a $10.00 target price for the company. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $10.92.

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.