Cornerstone Investment Partners LLC bought a new stake in shares of Udemy, Inc. (NASDAQ:UDMY - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 26,615 shares of the company's stock, valued at approximately $219,000.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. SBI Securities Co. Ltd. bought a new position in shares of Udemy during the 4th quarter valued at $31,000. Point72 DIFC Ltd bought a new position in shares of Udemy during the 3rd quarter valued at $30,000. Harbor Capital Advisors Inc. raised its holdings in shares of Udemy by 28.9% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 20,433 shares of the company's stock valued at $152,000 after purchasing an additional 4,581 shares in the last quarter. Handelsbanken Fonder AB raised its holdings in shares of Udemy by 45.2% during the 4th quarter. Handelsbanken Fonder AB now owns 15,100 shares of the company's stock valued at $124,000 after purchasing an additional 4,700 shares in the last quarter. Finally, SG Americas Securities LLC raised its holdings in Udemy by 22.2% in the 4th quarter. SG Americas Securities LLC now owns 29,674 shares of the company's stock worth $244,000 after acquiring an additional 5,384 shares during the period. Institutional investors own 79.48% of the company's stock.
Wall Street Analysts Forecast Growth
UDMY has been the topic of several recent analyst reports. Canaccord Genuity Group lifted their target price on shares of Udemy from $12.00 to $14.00 and gave the stock a "buy" rating in a report on Friday, February 14th. Scotiabank initiated coverage on shares of Udemy in a report on Thursday, December 5th. They issued a "sector outperform" rating and a $10.00 target price on the stock. Needham & Company LLC reiterated a "buy" rating and issued a $11.00 target price on shares of Udemy in a report on Friday, February 14th. Finally, Morgan Stanley boosted their price objective on shares of Udemy from $7.50 to $9.00 and gave the stock an "underweight" rating in a report on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Udemy presently has a consensus rating of "Moderate Buy" and a consensus target price of $10.95.
Read Our Latest Stock Report on UDMY
Insider Activity
In other Udemy news, CEO Gregory Scott Brown sold 10,000 shares of the business's stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $9.43, for a total value of $94,300.00. Following the transaction, the chief executive officer now directly owns 1,141,896 shares in the company, valued at $10,768,079.28. The trade was a 0.87 % decrease in their ownership of the stock. 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 business's stock in a transaction dated 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 completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,294,322 shares of company stock worth $25,953,218. Corporate insiders own 3.20% of the company's stock.
Udemy Price Performance
Shares of Udemy stock traded down $0.19 during trading on Friday, hitting $9.17. 1,199,312 shares of the company's stock traded hands, compared to its average volume of 1,163,514. The firm's fifty day moving average price is $8.54 and its 200 day moving average price is $8.22. Udemy, Inc. has a twelve month low of $6.67 and a twelve month high of $11.65. The company has a market cap of $1.35 billion, a PE ratio of -16.09 and a beta of 1.76.
Udemy (NASDAQ:UDMY - Get Free Report) last issued 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 net margin of 10.84% and a negative return on equity of 27.93%. The business had revenue of $199.94 million for the quarter, compared to analyst estimates of $194.70 million. As a group, equities research analysts anticipate that Udemy, Inc. will post -0.09 earnings per share for the current year.
About Udemy
(
Free Report)
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.
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