Assenagon Asset Management S.A. Boosts Stock Position in Udemy, Inc. (NASDAQ:UDMY)

Assenagon Asset Management S.A. increased its holdings in shares of Udemy, Inc. (NASDAQ:UDMY - Free Report) by 106.5% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 242,791 shares of the company's stock after buying an additional 125,235 shares during the quarter. Assenagon Asset Management S.A. owned 0.16% of Udemy worth $1,806,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of UDMY. ProShare Advisors LLC boosted its holdings in shares of Udemy by 10.7% during the 1st quarter. ProShare Advisors LLC now owns 16,109 shares of the company's stock valued at $177,000 after acquiring an additional 1,553 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of Udemy by 18.8% during the first quarter. Principal Financial Group Inc. now owns 12,053 shares of the company's stock worth $132,000 after purchasing an additional 1,904 shares during the last quarter. Swiss National Bank raised its holdings in Udemy by 2.2% in the 1st quarter. Swiss National Bank now owns 136,200 shares of the company's stock valued at $1,495,000 after buying an additional 2,900 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in Udemy by 6.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 51,780 shares of the company's stock worth $447,000 after buying an additional 3,336 shares during the period. Finally, Natixis grew its holdings in Udemy by 60.8% during the 1st quarter. Natixis now owns 8,967 shares of the company's stock worth $99,000 after acquiring an additional 3,391 shares during the last quarter. 79.48% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Udemy

In related news, CFO Sarah Blanchard sold 45,000 shares of the company's stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $8.05, for a total value of $362,250.00. Following the sale, the chief financial officer now owns 1,001,761 shares in the company, valued at $8,064,176.05. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, CFO Sarah Blanchard sold 45,000 shares of the company's stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $8.05, for a total transaction of $362,250.00. Following the completion of the sale, the chief financial officer now owns 1,001,761 shares in the company, valued at approximately $8,064,176.05. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Gregory Scott Brown sold 10,000 shares of the firm's stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $8.50, for a total value of $85,000.00. Following the transaction, the chief executive officer now owns 1,203,727 shares in the company, valued at approximately $10,231,679.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.20% of the stock is owned by insiders.

Udemy Price Performance

Shares of Udemy stock traded up $0.20 during trading on Friday, reaching $8.04. 988,594 shares of the company traded hands, compared to its average volume of 726,715. The firm has a market capitalization of $1.21 billion, a PE ratio of -12.76 and a beta of 1.95. Udemy, Inc. has a 1-year low of $6.67 and a 1-year high of $16.01. The company has a 50 day moving average price of $7.95 and a 200-day moving average price of $8.49.

Udemy (NASDAQ:UDMY - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $0.07 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.06. The firm had revenue of $195.42 million for the quarter, compared to analyst estimates of $192.69 million. Udemy had a negative net margin of 12.33% and a negative return on equity of 26.79%. The business's quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.10) earnings per share. Equities research analysts expect that Udemy, Inc. will post -0.52 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on UDMY shares. Truist Financial cut their price target on shares of Udemy from $15.00 to $10.00 and set a "buy" rating on the stock in a report on Friday, August 2nd. Canaccord Genuity Group began coverage on Udemy in a report on Thursday, August 8th. They set a "buy" rating and a $12.00 target price on the stock. Needham & Company LLC decreased their price target on Udemy from $15.00 to $11.00 and set a "buy" rating for the company in a research note on Wednesday. KeyCorp cut their price objective on Udemy from $14.00 to $13.00 and set an "overweight" rating on the stock in a research note on Monday, July 22nd. Finally, Cantor Fitzgerald decreased their target price on shares of Udemy from $18.00 to $11.00 and set an "overweight" rating for the company in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat, Udemy presently has a consensus rating of "Moderate Buy" and an average target price of $11.00.

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.