Summit Global Investments Takes $312,000 Position in Udemy, Inc. (NASDAQ:UDMY)

Summit Global Investments bought a new stake in Udemy, Inc. (NASDAQ:UDMY - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 37,868 shares of the company's stock, valued at approximately $312,000.

Several other large investors have also modified their holdings of UDMY. Geode Capital Management LLC boosted its holdings in Udemy by 0.3% in the 3rd quarter. Geode Capital Management LLC now owns 2,216,868 shares of the company's stock valued at $16,497,000 after purchasing an additional 5,972 shares in the last quarter. State Street Corp grew its holdings in Udemy by 0.8% during the third quarter. State Street Corp now owns 1,934,473 shares of the company's stock worth $14,392,000 after acquiring an additional 15,339 shares during the period. FMR LLC grew its holdings 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 during the period. Royce & Associates LP raised its position in Udemy by 18.6% in the fourth quarter. Royce & Associates LP now owns 1,119,359 shares of the company's stock worth $9,212,000 after acquiring an additional 175,300 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Udemy by 3.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 761,920 shares of the company's stock valued at $5,669,000 after acquiring an additional 27,959 shares during the period. Hedge funds and other institutional investors own 79.48% of the company's stock.

Analysts Set New Price Targets

Several research firms have weighed in on UDMY. William Blair lowered Udemy from an "outperform" rating to a "market perform" rating in a report on Wednesday, March 12th. 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. Canaccord Genuity Group lifted their target price on shares of Udemy from $12.00 to $14.00 and gave the stock a "buy" rating in a research report on Friday, February 14th. Scotiabank initiated coverage on shares of Udemy in a research report on Thursday, December 5th. They issued a "sector outperform" rating and a $10.00 price target on the stock. Finally, Morgan Stanley boosted their price target on Udemy from $7.50 to $9.00 and gave the stock an "underweight" rating in a report on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, Udemy currently has an average rating of "Moderate Buy" and an average target price of $10.95.

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Udemy Stock Performance

Shares of NASDAQ:UDMY traded down $0.25 during trading hours on Friday, hitting $8.02. 853,226 shares of the company's stock traded hands, compared to its average volume of 930,082. The company's fifty day simple moving average is $8.57 and its two-hundred day simple moving average is $8.26. Udemy, Inc. has a 52 week low of $6.67 and a 52 week high of $11.60. The company has a market cap of $1.18 billion, a price-to-earnings ratio of -14.07 and a beta of 1.76.

Udemy (NASDAQ:UDMY - Get Free Report) last released its quarterly earnings results on Thursday, February 13th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.07 by ($0.10). The firm had revenue of $199.94 million for the quarter, compared to analyst estimates of $194.70 million. Udemy had a negative net margin of 10.84% and a negative return on equity of 27.93%. On average, analysts anticipate that Udemy, Inc. will post -0.09 EPS for the current fiscal year.

Insider Activity at Udemy

In related news, CTO Eren Bali sold 69,482 shares of the company's stock in a transaction on Friday, February 14th. The shares were sold at an average price of $9.00, for a total transaction of $625,338.00. Following the completion of the sale, the chief technology officer now directly owns 2,156,050 shares of the company's stock, valued at approximately $19,404,450. This represents a 3.12 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Ltd Naspers sold 3,200,000 shares of the company's stock in a transaction dated 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 sale, the insider now owns 13,920,840 shares of the company's stock, valued at $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. In the last quarter, insiders sold 3,304,322 shares of company stock valued at $26,033,418. 3.20% of the stock is owned by corporate insiders.

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.