Arrowstreet Capital Limited Partnership Acquires New Stake in Udemy, Inc. (NASDAQ:UDMY)

Arrowstreet Capital Limited Partnership purchased a new position in Udemy, Inc. (NASDAQ:UDMY - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 500,456 shares of the company's stock, valued at approximately $4,119,000. Arrowstreet Capital Limited Partnership owned 0.34% of Udemy at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in UDMY. Charles Schwab Investment Management Inc. lifted its stake in Udemy by 3.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 761,920 shares of the company's stock valued at $5,669,000 after buying an additional 27,959 shares in the last quarter. FMR LLC boosted its stake in shares of Udemy by 2.8% in the third quarter. FMR LLC now owns 1,330,073 shares of the company's stock worth $9,896,000 after acquiring an additional 36,380 shares during the last quarter. Point72 DIFC Ltd purchased a new stake in shares of Udemy during the third quarter worth approximately $30,000. State Street Corp raised its stake in Udemy by 0.8% in the 3rd quarter. State Street Corp now owns 1,934,473 shares of the company's stock valued at $14,392,000 after purchasing an additional 15,339 shares during the last quarter. Finally, Barclays PLC boosted its stake in Udemy by 360.6% during the 3rd quarter. Barclays PLC now owns 155,719 shares of the company's stock worth $1,158,000 after purchasing an additional 121,911 shares during the last quarter. 79.48% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Udemy news, major shareholder Ltd Naspers sold 3,200,000 shares of the company's stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $7.84, for a total transaction of $25,088,000.00. Following the completion of the sale, the insider now directly owns 13,920,840 shares of the company's stock, valued at $109,139,385.60. This represents a 18.69 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Eren Bali sold 69,482 shares of the business's stock in a transaction on Friday, February 14th. The shares were sold at an average price of $9.00, for a total transaction of $625,338.00. Following the completion of the transaction, the chief technology officer now directly owns 2,156,050 shares in the company, valued at $19,404,450. This represents a 3.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 3,305,168 shares of company stock worth $26,040,186 in the last ninety days. 3.20% of the stock is owned by corporate insiders.

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Udemy Stock Up 1.5 %

Udemy stock traded up $0.09 during midday trading on Monday, reaching $6.19. The company's stock had a trading volume of 30,536 shares, compared to its average volume of 956,796. The business has a 50-day simple moving average of $8.35 and a 200-day simple moving average of $8.15. The company has a market cap of $919.12 million, a P/E ratio of -10.75 and a beta of 1.81. Udemy, Inc. has a fifty-two week low of $5.68 and a fifty-two week high of $11.60.

Udemy (NASDAQ:UDMY - Get Free Report) last posted its earnings results on Thursday, February 13th. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.10). Udemy had a negative return on equity of 27.93% and a negative net margin of 10.84%. The business had revenue of $199.94 million for the quarter, compared to analysts' expectations of $194.70 million. As a group, equities analysts forecast that Udemy, Inc. will post -0.09 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have commented on UDMY shares. Canaccord Genuity Group increased their price objective on shares of Udemy from $12.00 to $14.00 and gave the company a "buy" rating in a report on Friday, February 14th. Morgan Stanley raised their price objective on shares of Udemy from $7.50 to $9.00 and gave the stock an "underweight" rating in a research report on Thursday, February 20th. William Blair cut shares of Udemy from an "outperform" rating to a "market perform" rating in a research note on Wednesday, March 12th. Needham & Company LLC reiterated a "buy" rating and issued a $11.00 price objective on shares of Udemy in a report on Wednesday, March 12th. Finally, Truist Financial restated a "hold" rating and issued a $7.00 target price (down previously from $10.00) on shares of Udemy in a research report on Monday, April 7th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Udemy presently has an average rating of "Moderate Buy" and a consensus target price of $10.68.

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.