Summit Trail Advisors LLC Has $2.73 Million Holdings in Udemy, Inc. (NASDAQ:UDMY)

Summit Trail Advisors LLC grew its holdings in shares of Udemy, Inc. (NASDAQ:UDMY - Free Report) by 939.8% in the third quarter, according to its most recent filing with the SEC. The firm owned 366,795 shares of the company's stock after acquiring an additional 331,521 shares during the quarter. Summit Trail Advisors LLC owned about 0.25% of Udemy worth $2,729,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Russell Investments Group Ltd. acquired a new stake in shares of Udemy in the 1st quarter worth approximately $350,000. ProShare Advisors LLC boosted its stake in 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 purchasing an additional 1,553 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Udemy by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 9,472,216 shares of the company's stock valued at $104,005,000 after purchasing an additional 116,346 shares during the period. Natixis raised its stake in shares of Udemy by 60.8% in the 1st quarter. Natixis now owns 8,967 shares of the company's stock worth $99,000 after buying an additional 3,391 shares in the last quarter. Finally, Silvercrest Asset Management Group LLC bought a new stake in shares of Udemy in the 1st quarter worth $8,109,000. Institutional investors own 79.48% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on UDMY. Bank of America lowered Udemy from a "buy" rating to a "neutral" rating and set a $8.50 target price on the stock. in a report on Thursday, August 1st. Robert W. Baird cut their target price on shares of Udemy from $13.00 to $11.00 and set an "outperform" rating for the company in a research note on Thursday, August 1st. Canaccord Genuity Group started coverage on shares of Udemy in a report on Thursday, August 8th. They set a "buy" rating and a $12.00 target price for the company. Morgan Stanley cut Udemy from an "equal weight" rating to an "underweight" rating and dropped their price target for the company from $10.00 to $7.50 in a report on Friday, September 27th. Finally, Truist Financial reduced their price objective on Udemy from $15.00 to $10.00 and set a "buy" rating for the company in a research note on Friday, August 2nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $11.00.

Udemy Stock Performance

Shares of UDMY stock traded up $0.42 on Monday, reaching $8.10. 833,036 shares of the company's stock traded hands, compared to its average volume of 892,948. The company has a market capitalization of $1.18 billion, a P/E ratio of -12.19 and a beta of 1.95. Udemy, Inc. has a 12-month low of $6.67 and a 12-month high of $16.01. The business's 50 day moving average price is $7.99 and its two-hundred day moving average price is $8.27.

Udemy (NASDAQ:UDMY - Get Free Report) last released its earnings results 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 company had revenue of $195.42 million for the quarter, compared to analysts' expectations of $192.69 million. Udemy had a negative return on equity of 29.36% and a negative net margin of 12.33%. The business's revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.10) EPS. Research analysts predict that Udemy, Inc. will post -0.47 earnings per share for the current year.

Insider Activity at Udemy

In other news, CTO Eren Bali sold 35,518 shares of the firm's stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $9.00, for a total transaction of $319,662.00. Following the completion of the sale, the chief technology officer now directly owns 2,225,532 shares of the company's stock, valued at $20,029,788. This trade represents a 1.57 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Gregory Scott Brown sold 10,000 shares of Udemy stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $8.50, for a total value of $85,000.00. Following the sale, the chief executive officer now owns 1,203,727 shares of the company's stock, valued at approximately $10,231,679.50. This represents a 0.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.20% of the stock is currently owned by insiders.

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.