JPMorgan Chase & Co. Has $1.02 Million Stake in Udemy, Inc. (NASDAQ:UDMY)

JPMorgan Chase & Co. cut its position in Udemy, Inc. (NASDAQ:UDMY - Free Report) by 37.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 123,756 shares of the company's stock after selling 74,631 shares during the quarter. JPMorgan Chase & Co. owned 0.08% of Udemy worth $1,019,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. SBI Securities Co. Ltd. bought a new position in Udemy in the fourth quarter valued at approximately $31,000. Nisa Investment Advisors LLC boosted its holdings in shares of Udemy by 496.7% in the 4th quarter. Nisa Investment Advisors LLC now owns 7,220 shares of the company's stock valued at $59,000 after purchasing an additional 6,010 shares in the last quarter. Falcon Wealth Planning bought a new position in shares of Udemy in the 4th quarter valued at $85,000. 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 worth $124,000 after buying an additional 4,700 shares in the last quarter. Finally, KLP Kapitalforvaltning AS bought a new stake in shares of Udemy during the 4th quarter worth $137,000. 79.48% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Heather Hiles sold 14,840 shares of the firm's 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 completion of the sale, the director now owns 42,667 shares of the company's stock, valued at $418,563.27. This trade represents a 25.81 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CTO Eren Bali sold 10,000 shares of Udemy stock in a transaction on Friday, March 14th. The shares were sold at an average price of $8.02, for a total transaction of $80,200.00. Following the completion of the sale, the chief technology officer now owns 2,146,050 shares of the company's stock, valued at $17,211,321. This represents a 0.46 % 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 over the last quarter. Insiders own 3.20% of the company's stock.

Udemy Trading Up 3.0 %

NASDAQ UDMY opened at $6.96 on Monday. Udemy, Inc. has a 12 month low of $5.68 and a 12 month high of $11.60. The firm has a market capitalization of $1.03 billion, a PE ratio of -12.21 and a beta of 1.81. The business's 50-day moving average price is $7.94 and its two-hundred day moving average price is $8.08.

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

Analyst Ratings Changes

UDMY has been the subject of several research analyst reports. Needham & Company LLC reissued a "buy" rating and set a $11.00 target price on shares of Udemy in a research note on Wednesday, March 12th. JPMorgan Chase & Co. lowered their price objective on shares of Udemy from $11.00 to $8.00 and set a "neutral" rating for the company in a research report on Thursday. William Blair cut shares of Udemy from an "outperform" rating to a "market perform" rating in a research note on Wednesday, March 12th. Canaccord Genuity Group increased their price target on Udemy from $12.00 to $14.00 and gave the company a "buy" rating in a research note on Friday, February 14th. Finally, Truist Financial reissued a "hold" rating and set a $7.00 price objective (down previously from $10.00) on shares of Udemy in a report on Monday, April 7th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $10.29.

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.

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