Federated Hermes Inc. Has $11.30 Million Stock Position in Udemy, Inc. (NASDAQ:UDMY)

Federated Hermes Inc. increased its position in shares of Udemy, Inc. (NASDAQ:UDMY - Free Report) by 1,985.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,372,593 shares of the company's stock after purchasing an additional 1,306,778 shares during the quarter. Federated Hermes Inc. owned 0.94% of Udemy worth $11,296,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in UDMY. Point72 DIFC Ltd bought a new position in shares of Udemy in the 3rd quarter worth about $30,000. SBI Securities Co. Ltd. bought a new position in Udemy in the fourth quarter worth about $31,000. Nisa Investment Advisors LLC boosted its stake in Udemy by 496.7% in the fourth quarter. Nisa Investment Advisors LLC now owns 7,220 shares of the company's stock valued at $59,000 after acquiring an additional 6,010 shares during the period. Falcon Wealth Planning bought a new position in shares of Udemy during the fourth quarter valued at approximately $85,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Udemy during the 4th quarter worth approximately $95,000. Institutional investors and hedge funds own 79.48% of the company's stock.

Analysts Set New Price Targets

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

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Insider Buying and Selling at Udemy

In other Udemy news, Director Heather Hiles sold 14,840 shares of Udemy stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $9.81, for a total transaction of $145,580.40. Following the transaction, the director now directly owns 42,667 shares in the company, valued at approximately $418,563.27. The trade was a 25.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Ltd Naspers sold 3,200,000 shares of the stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $7.84, for a total value of $25,088,000.00. Following the completion of the sale, the insider now owns 13,920,840 shares of the company's stock, valued at $109,139,385.60. The trade was a 18.69 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,305,168 shares of company stock valued at $26,040,186. 3.20% of the stock is currently owned by corporate insiders.

Udemy Stock Down 0.2 %

Udemy stock traded down $0.01 during mid-day trading on Monday, hitting $6.09. The company's stock had a trading volume of 523,580 shares, compared to its average volume of 958,926. Udemy, Inc. has a twelve month low of $5.68 and a twelve month high of $11.60. The stock's fifty day moving average price is $8.35 and its two-hundred day moving average price is $8.15. The stock has a market capitalization of $904.27 million, a P/E ratio of -10.68 and a beta of 1.81.

Udemy (NASDAQ:UDMY - Get Free Report) last announced its earnings results on Thursday, February 13th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 company had revenue of $199.94 million for the quarter, compared to analyst estimates of $194.70 million. Equities analysts expect that Udemy, Inc. will post -0.09 earnings per share for the current year.

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.