Udemy, Inc. (NASDAQ:UDMY) Holdings Raised by Royce & Associates LP

Royce & Associates LP boosted its position in Udemy, Inc. (NASDAQ:UDMY - Free Report) by 18.6% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 1,119,359 shares of the company's stock after purchasing an additional 175,300 shares during the period. Royce & Associates LP owned about 0.77% of Udemy worth $9,212,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of UDMY. SBI Securities Co. Ltd. purchased a new position in shares of Udemy in the 4th quarter worth about $31,000. Point72 DIFC Ltd bought a new stake in shares of Udemy during the 3rd quarter valued at about $30,000. Handelsbanken Fonder AB grew its stake in Udemy by 45.2% in the fourth quarter. Handelsbanken Fonder AB now owns 15,100 shares of the company's stock worth $124,000 after purchasing an additional 4,700 shares during the period. SG Americas Securities LLC increased its stake in shares of Udemy by 22.2% during the fourth quarter. SG Americas Securities LLC now owns 29,674 shares of the company's stock valued at $244,000 after purchasing an additional 5,384 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Udemy by 0.3% in the third 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 during the last quarter. 79.48% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

UDMY has been the topic of several research analyst reports. William Blair cut Udemy from an "outperform" rating to a "market perform" rating in a report on Wednesday, March 12th. Canaccord Genuity Group lifted their price objective on shares of Udemy from $12.00 to $14.00 and gave the company a "buy" rating in a research report on Friday, February 14th. Morgan Stanley increased their price target on Udemy from $7.50 to $9.00 and gave the company an "underweight" rating in a research note on Thursday, February 20th. Needham & Company LLC reissued a "buy" rating and issued a $11.00 price objective on shares of Udemy in a research note on Wednesday, March 12th. Finally, Scotiabank initiated coverage on Udemy in a research report on Thursday, December 5th. They issued a "sector outperform" rating and a $10.00 price target for the company. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $10.95.

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Insider Transactions at Udemy

In other news, CEO Gregory Scott Brown sold 10,000 shares of the business's stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $9.43, for a total transaction of $94,300.00. Following the completion of the sale, the chief executive officer now directly owns 1,141,896 shares of the company's stock, valued at $10,768,079.28. The trade was a 0.87 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Ltd Naspers sold 3,200,000 shares of Udemy stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $7.84, for a total transaction of $25,088,000.00. Following the transaction, the insider now directly owns 13,920,840 shares in the company, valued at approximately $109,139,385.60. This trade represents a 18.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 3,304,322 shares of company stock worth $26,033,418. Company insiders own 3.20% of the company's stock.

Udemy Stock Performance

UDMY remained flat at $8.51 during mid-day trading on Friday. The company had a trading volume of 944,517 shares, compared to its average volume of 902,166. The firm's fifty day moving average price is $8.56 and its two-hundred day moving average price is $8.24. Udemy, Inc. has a 1 year low of $6.67 and a 1 year high of $11.60. The company has a market cap of $1.26 billion, a P/E ratio of -14.93 and a beta of 1.76.

Udemy (NASDAQ:UDMY - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $199.94 million during the quarter, compared to analyst estimates of $194.70 million. Sell-side analysts anticipate that Udemy, Inc. will post -0.09 EPS for the current year.

About Udemy

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.