Algert Global LLC Purchases 107,390 Shares of Udemy, Inc. (NASDAQ:UDMY)

Algert Global LLC increased its position in shares of Udemy, Inc. (NASDAQ:UDMY - Free Report) by 45.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 346,062 shares of the company's stock after purchasing an additional 107,390 shares during the quarter. Algert Global LLC owned approximately 0.24% of Udemy worth $2,575,000 as of its most recent SEC filing.

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

Insider Activity

In other news, 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 value of $85,000.00. Following the completion of the sale, the chief executive officer now owns 1,203,727 shares of the company's stock, valued at approximately $10,231,679.50. This represents a 0.82 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 transaction of $319,662.00. Following the completion of the sale, the chief technology officer now directly owns 2,225,532 shares of the company's stock, valued at $20,029,788. This trade represents a 1.57 % decrease in their position. The disclosure for this sale can be found here. 3.20% of the stock is owned by corporate insiders.

Udemy Price Performance

UDMY stock opened at $7.95 on Wednesday. Udemy, Inc. has a one year low of $6.67 and a one year high of $16.01. The firm has a 50 day simple moving average of $7.99 and a two-hundred day simple moving average of $8.25.

Udemy (NASDAQ:UDMY - Get Free Report) last released 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. Udemy had a negative net margin of 12.33% and a negative return on equity of 29.36%. The business had revenue of $195.42 million during the quarter, compared to analysts' expectations of $192.69 million. During the same quarter in the previous year, the company earned ($0.10) EPS. The business's quarterly revenue was up 5.8% compared to the same quarter last year. As a group, sell-side analysts expect that Udemy, Inc. will post -0.47 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on UDMY. Canaccord Genuity Group began coverage on shares of Udemy in a research report on Thursday, August 8th. They issued a "buy" rating and a $12.00 price objective 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. Bank of America lowered shares of Udemy from a "buy" rating to a "neutral" rating and set a $8.50 price target on the stock. in a research report on Thursday, August 1st. Finally, Truist Financial lowered their price target on shares of Udemy from $15.00 to $10.00 and set a "buy" rating on the stock in a research report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average 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.