Connor Clark & Lunn Investment Management Ltd. Buys Shares of 100,929 Udemy, Inc. (NASDAQ:UDMY)

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Udemy, Inc. (NASDAQ:UDMY - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 100,929 shares of the company's stock, valued at approximately $831,000. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.07% of Udemy at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Victory Capital Management Inc. acquired a new stake in Udemy in the 3rd quarter valued at $75,000. Intech Investment Management LLC bought a new position in shares of Udemy in the third quarter valued at about $161,000. Charles Schwab Investment Management Inc. grew its holdings in Udemy by 3.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 761,920 shares of the company's stock worth $5,669,000 after acquiring an additional 27,959 shares during the last quarter. Algert Global LLC raised its stake in shares of Udemy by 45.0% in the third quarter. Algert Global LLC now owns 346,062 shares of the company's stock worth $2,575,000 after acquiring an additional 107,390 shares during the last quarter. Finally, Summit Trail Advisors LLC grew its stake in shares of Udemy by 939.8% during the third quarter. Summit Trail Advisors LLC now owns 366,795 shares of the company's stock valued at $2,729,000 after purchasing an additional 331,521 shares during the last quarter. 79.48% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on UDMY. Scotiabank began coverage on Udemy in a research report on Thursday, December 5th. They issued a "sector outperform" rating and a $10.00 price objective on the stock. William Blair cut Udemy from an "outperform" rating to a "market perform" rating in a report on Wednesday, March 12th. Morgan Stanley boosted their price objective on Udemy from $7.50 to $9.00 and gave the stock an "underweight" rating in a report on Thursday, February 20th. Needham & Company LLC reaffirmed a "buy" rating and issued a $11.00 target price on shares of Udemy in a research note on Wednesday, March 12th. Finally, Canaccord Genuity Group lifted their price target on shares of Udemy from $12.00 to $14.00 and gave the stock a "buy" rating in a research report on Friday, February 14th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $10.95.

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Udemy Stock Down 1.4 %

NASDAQ UDMY traded down $0.12 during trading on Tuesday, reaching $8.70. 766,691 shares of the stock traded hands, compared to its average volume of 903,270. Udemy, Inc. has a fifty-two week low of $6.67 and a fifty-two week high of $11.60. The firm has a market cap of $1.29 billion, a price-to-earnings ratio of -15.26 and a beta of 1.76. The stock's 50-day moving average price is $8.57 and its 200 day moving average price is $8.25.

Udemy (NASDAQ:UDMY - Get Free Report) last announced its quarterly earnings results on Thursday, February 13th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.10). The firm had revenue of $199.94 million during the quarter, compared to analyst estimates of $194.70 million. Udemy had a negative net margin of 10.84% and a negative return on equity of 27.93%. Analysts anticipate that Udemy, Inc. will post -0.09 EPS for the current fiscal year.

Insider Activity

In related news, CEO Gregory Scott Brown sold 10,000 shares of the firm's stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $9.43, for a total transaction of $94,300.00. Following the sale, the chief executive officer now directly owns 1,141,896 shares in the company, valued at $10,768,079.28. This trade represents a 0.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, 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 stock was 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. The trade was a 18.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 3,304,322 shares of company stock worth $26,033,418 in the last 90 days. Corporate insiders own 3.20% of the company's stock.

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.