Udemy, Inc. (NASDAQ:UDMY) Shares Acquired by JPMorgan Chase & Co.

JPMorgan Chase & Co. grew its position in shares of Udemy, Inc. (NASDAQ:UDMY - Free Report) by 26.2% during the third quarter, according to its most recent filing with the SEC. The firm owned 198,387 shares of the company's stock after acquiring an additional 41,145 shares during the period. JPMorgan Chase & Co. owned about 0.14% of Udemy worth $1,476,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in UDMY. Sea Cliff Partners Management LP grew its stake in 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 purchasing an additional 811,702 shares during the period. Geode Capital Management LLC increased its stake in shares of Udemy by 0.3% in the 3rd quarter. Geode Capital Management LLC now owns 2,216,868 shares of the company's stock worth $16,497,000 after acquiring an additional 5,972 shares in the last quarter. State Street Corp lifted its position in Udemy by 0.8% during the 3rd quarter. State Street Corp now owns 1,934,473 shares of the company's stock valued at $14,392,000 after acquiring an additional 15,339 shares during the period. FMR LLC boosted its stake in Udemy by 2.8% during the third quarter. FMR LLC now owns 1,330,073 shares of the company's stock worth $9,896,000 after acquiring an additional 36,380 shares in the last quarter. Finally, Royce & Associates LP grew its holdings in Udemy by 1.1% in the third quarter. Royce & Associates LP now owns 944,059 shares of the company's stock worth $7,024,000 after purchasing an additional 10,650 shares during the period. Institutional investors own 79.48% of the company's stock.

Insider Transactions at Udemy

In other Udemy news, CTO Eren Bali sold 35,518 shares of the company's stock in a transaction dated Wednesday, November 6th. The shares were 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 in the company, valued at $20,029,788. This represents a 1.57 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Gregory Scott Brown sold 10,000 shares of the firm's stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $8.71, for a total transaction of $87,100.00. Following the transaction, the chief executive officer now directly owns 1,183,086 shares in the company, valued at approximately $10,304,679.06. This trade represents a 0.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,255,518 shares of company stock worth $25,579,762. 3.20% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on UDMY. Morgan Stanley lowered Udemy from an "equal weight" rating to an "underweight" rating and reduced their price objective for the company from $10.00 to $7.50 in a research report on Friday, September 27th. Scotiabank initiated coverage on shares of Udemy in a research note on Thursday, December 5th. They issued a "sector outperform" rating and a $10.00 price target on the stock. Cantor Fitzgerald reduced their price objective on shares of Udemy from $18.00 to $11.00 and set an "overweight" rating for the company in a research note on Wednesday, October 30th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $11.00 price target on shares of Udemy in a report on Friday, January 17th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, Udemy presently has a consensus rating of "Moderate Buy" and an average target price of $10.92.

Udemy Trading Up 0.7 %

Shares of NASDAQ:UDMY traded up $0.05 during trading on Friday, reaching $7.54. The company's stock had a trading volume of 959,402 shares, compared to its average volume of 762,507. The stock has a market capitalization of $1.10 billion, a PE ratio of -11.97 and a beta of 1.87. Udemy, Inc. has a 12 month low of $6.67 and a 12 month high of $14.74. The firm's 50 day simple moving average is $8.14 and its two-hundred day simple moving average is $8.07.

Udemy (NASDAQ:UDMY - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $0.07 earnings per share for the quarter, beating 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 business had revenue of $195.42 million for the quarter, compared to analysts' expectations of $192.69 million. During the same quarter in the previous year, the business posted ($0.10) earnings per share. The business's revenue was up 5.8% compared to the same quarter last year. Research analysts anticipate that Udemy, Inc. will post -0.47 EPS for the current fiscal 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.