Udemy, Inc. (NASDAQ:UDMY) Position Reduced by Geode Capital Management LLC

Geode Capital Management LLC lessened its stake in Udemy, Inc. (NASDAQ:UDMY - Free Report) by 2.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,165,050 shares of the company's stock after selling 51,818 shares during the quarter. Geode Capital Management LLC owned 1.48% of Udemy worth $17,823,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp grew its holdings in shares of Udemy by 0.8% in the 3rd quarter. State Street Corp now owns 1,934,473 shares of the company's stock worth $14,392,000 after acquiring an additional 15,339 shares during the period. Royce & Associates LP grew its holdings in Udemy by 18.6% in the fourth quarter. Royce & Associates LP now owns 1,119,359 shares of the company's stock valued at $9,212,000 after purchasing an additional 175,300 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in shares of Udemy in the fourth quarter valued at $4,119,000. Bank of New York Mellon Corp raised its stake in shares of Udemy by 7.6% during the 4th quarter. Bank of New York Mellon Corp now owns 282,587 shares of the company's stock worth $2,326,000 after buying an additional 19,934 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of Udemy by 26.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 198,387 shares of the company's stock worth $1,476,000 after buying an additional 41,145 shares in the last quarter. Hedge funds and other institutional investors own 79.48% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on UDMY shares. Needham & Company LLC reissued a "buy" rating and set a $11.00 price objective on shares of Udemy in a research note on Wednesday, March 12th. Morgan Stanley decreased their price objective on Udemy from $9.00 to $7.00 and set an "underweight" rating on the stock in a research note on Wednesday, April 16th. Canaccord Genuity Group upped 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. Truist Financial reaffirmed a "hold" rating and issued a $7.00 target price (down from $10.00) on shares of Udemy in a research note on Monday, April 7th. Finally, William Blair cut Udemy from an "outperform" rating to a "market perform" rating in a report on Wednesday, March 12th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $10.50.

Udemy Stock Down 0.7 %

Shares of Udemy stock traded down $0.05 on Thursday, hitting $6.60. 133,029 shares of the company's stock traded hands, compared to its average volume of 967,882. The firm's 50-day moving average is $8.06 and its 200 day moving average is $8.08. The stock has a market cap of $979.26 million, a P/E ratio of -11.55 and a beta of 1.81. Udemy, Inc. has a 52-week low of $5.68 and a 52-week high of $11.60.

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

Insider Buying and Selling at Udemy

In related news, CTO Eren Bali sold 10,000 shares of the business's stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $8.02, for a total value of $80,200.00. Following the sale, the chief technology officer now directly owns 2,146,050 shares in the company, valued at $17,211,321. The trade was a 0.46 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Heather Hiles sold 14,840 shares of Udemy stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $9.81, for a total transaction of $145,580.40. Following the completion of the transaction, the director now owns 42,667 shares in the company, valued at approximately $418,563.27. This trade represents a 25.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 105,168 shares of company stock valued at $952,186 in the last ninety days. Company 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.