Udemy, Inc. (NASDAQ:UDMY) Shares Sold by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. cut its position in Udemy, Inc. (NASDAQ:UDMY - Free Report) by 35.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 318,507 shares of the company's stock after selling 172,498 shares during the quarter. Jacobs Levy Equity Management Inc. owned 0.22% of Udemy worth $2,370,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of UDMY. Sea Cliff Partners Management LP grew its stake in shares of Udemy by 27.9% in the second quarter. Sea Cliff Partners Management LP now owns 3,725,865 shares of the company's stock worth $32,154,000 after acquiring an additional 811,702 shares in the last quarter. Algert Global LLC boosted its holdings in Udemy by 45.0% in the third quarter. Algert Global LLC now owns 346,062 shares of the company's stock valued at $2,575,000 after purchasing an additional 107,390 shares during the period. Verition Fund Management LLC acquired a new position in Udemy during the 3rd quarter worth $1,630,000. Assenagon Asset Management S.A. increased its holdings in Udemy by 106.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 242,791 shares of the company's stock worth $1,806,000 after purchasing an additional 125,235 shares during the period. Finally, Victory Capital Management Inc. acquired a new stake in Udemy in the 3rd quarter valued at about $75,000. Hedge funds and other institutional investors own 79.48% of the company's stock.

Insider Buying and Selling at Udemy

In other Udemy news, CEO Gregory Scott Brown sold 10,000 shares of Udemy stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $8.50, for a total value of $85,000.00. Following the sale, the chief executive officer now owns 1,203,727 shares of the company's stock, valued at approximately $10,231,679.50. The trade was a 0.82 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Eren Bali sold 35,518 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $9.00, for a total value of $319,662.00. Following the transaction, the chief technology officer now directly owns 2,225,532 shares of the company's stock, valued at approximately $20,029,788. This trade represents a 1.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.20% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on UDMY. Morgan Stanley lowered shares of Udemy from an "equal weight" rating to an "underweight" rating and cut their target price for the stock from $10.00 to $7.50 in a research note on Friday, September 27th. Cantor Fitzgerald reduced their price objective on shares of Udemy from $18.00 to $11.00 and set an "overweight" rating on the stock in a report on Wednesday, October 30th. Needham & Company LLC lowered their target price on shares of Udemy from $15.00 to $11.00 and set a "buy" rating for the company in a research note on Wednesday, October 30th. Finally, Scotiabank started coverage on Udemy in a report on Thursday. They issued a "sector outperform" rating and a $10.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $10.92.

Udemy Stock Performance

NASDAQ UDMY traded down $0.18 on Friday, reaching $8.40. The stock had a trading volume of 559,696 shares, compared to its average volume of 699,025. The stock has a market cap of $1.23 billion, a P/E ratio of -13.33 and a beta of 1.91. Udemy, Inc. has a 12-month low of $6.67 and a 12-month high of $16.01. The business's 50-day moving average price is $8.03 and its 200 day moving average price is $8.16.

Udemy (NASDAQ:UDMY - Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $0.07 earnings per share for the quarter, topping analysts' consensus estimates of $0.01 by $0.06. Udemy had a negative net margin of 12.33% and a negative return on equity of 29.36%. The firm had revenue of $195.42 million during the quarter, compared to analysts' expectations of $192.69 million. During the same quarter in the prior year, the business earned ($0.10) EPS. Udemy's quarterly revenue was up 5.8% compared to the same quarter last year. On average, sell-side analysts predict that Udemy, Inc. will post -0.47 earnings per share for the current year.

Udemy 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.