Barclays PLC Increases Stock Position in Udemy, Inc. (NASDAQ:UDMY)

Barclays PLC increased its position in Udemy, Inc. (NASDAQ:UDMY - Free Report) by 360.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 155,719 shares of the company's stock after purchasing an additional 121,911 shares during the quarter. Barclays PLC owned approximately 0.11% of Udemy worth $1,158,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in UDMY. Point72 DIFC Ltd bought a new position in shares of Udemy in the third quarter worth about $30,000. Ariadne Wealth Management LP acquired a new position in Udemy during the 2nd quarter worth $67,000. Quest Partners LLC boosted its position in Udemy by 6,957.5% in the 2nd quarter. Quest Partners LLC now owns 8,963 shares of the company's stock valued at $77,000 after buying an additional 8,836 shares during the last quarter. Victory Capital Management Inc. acquired a new stake in shares of Udemy in the 3rd quarter valued at $75,000. Finally, XTX Topco Ltd acquired a new position in shares of Udemy during the second quarter valued at $93,000. Institutional investors and hedge funds own 79.48% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Needham & Company LLC cut their target price 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. Scotiabank started coverage on Udemy in a research note on Thursday, December 5th. They issued a "sector outperform" rating and a $10.00 target price on the stock. Morgan Stanley lowered Udemy from an "equal weight" rating to an "underweight" rating and decreased their target price for the stock from $10.00 to $7.50 in a research report on Friday, September 27th. Finally, Cantor Fitzgerald cut 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. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $10.92.

Udemy Price Performance

Shares of Udemy stock remained flat at $8.06 on Monday. The company's stock had a trading volume of 464,382 shares, compared to its average volume of 874,326. The business has a 50 day moving average price of $8.16 and a 200-day moving average price of $8.08. The firm has a market cap of $1.18 billion, a P/E ratio of -12.79 and a beta of 1.91. Udemy, Inc. has a 52-week low of $6.67 and a 52-week high of $14.74.

Udemy (NASDAQ:UDMY - Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The company reported $0.07 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $195.42 million during the quarter, compared to the consensus estimate of $192.69 million. During the same quarter in the previous year, the company posted ($0.10) earnings per share. The company's quarterly revenue was up 5.8% on a year-over-year basis. Sell-side analysts forecast that Udemy, Inc. will post -0.47 earnings per share for the current fiscal year.

Insider Activity at Udemy

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 in the company, valued at $10,231,679.50. This represents a 0.82 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CTO Eren Bali sold 35,518 shares of the firm's stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $9.00, for a total transaction of $319,662.00. Following the transaction, the chief technology officer now directly owns 2,225,532 shares in the company, valued at $20,029,788. The trade was a 1.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 55,518 shares of company stock valued at $491,762. 3.20% of the stock is owned by corporate insiders.

About Udemy

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.