Udemy, Inc. (NASDAQ:UDMY) Position Increased by AlphaQuest LLC

AlphaQuest LLC raised its holdings in shares of Udemy, Inc. (NASDAQ:UDMY - Free Report) by 82,500.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,692 shares of the company's stock after buying an additional 34,650 shares during the period. AlphaQuest LLC's holdings in Udemy were worth $286,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of UDMY. Barclays PLC raised its stake in shares of Udemy by 360.6% in the 3rd quarter. Barclays PLC now owns 155,719 shares of the company's stock valued at $1,158,000 after acquiring an additional 121,911 shares during the period. Verition Fund Management LLC purchased a new position in Udemy in the third quarter valued at about $1,630,000. SBI Securities Co. Ltd. acquired a new position in shares of Udemy during the fourth quarter worth about $31,000. Algert Global LLC lifted its stake in shares of Udemy by 45.0% during the third quarter. Algert Global LLC now owns 346,062 shares of the company's stock worth $2,575,000 after purchasing an additional 107,390 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of Udemy by 26.2% in the third quarter. JPMorgan Chase & Co. now owns 198,387 shares of the company's stock worth $1,476,000 after buying an additional 41,145 shares during the period. 79.48% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, major shareholder Ltd Naspers sold 3,200,000 shares of the firm's 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 owns 13,920,840 shares in the company, valued at $109,139,385.60. This trade represents a 18.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Eren Bali sold 10,000 shares of the business's stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $8.02, for a total value of $80,200.00. Following the sale, the chief technology officer now directly owns 2,146,050 shares in the company, valued at approximately $17,211,321. The trade was a 0.46 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,304,322 shares of company stock worth $26,033,418. 3.20% of the stock is owned by company insiders.

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Udemy Stock Performance

Shares of Udemy stock traded up $0.03 during trading on Tuesday, hitting $8.42. 957,350 shares of the stock were exchanged, compared to its average volume of 901,893. The stock has a market cap of $1.24 billion, a PE ratio of -14.77 and a beta of 1.76. The stock's fifty day moving average is $8.56 and its 200 day moving average is $8.24. Udemy, Inc. has a 12 month low of $6.67 and a 12 month high of $11.60.

Udemy (NASDAQ:UDMY - Get Free Report) last released its quarterly 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 business had revenue of $199.94 million for the quarter, compared to the consensus estimate of $194.70 million. Sell-side analysts anticipate that Udemy, Inc. will post -0.09 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on UDMY. William Blair downgraded shares of Udemy from an "outperform" rating to a "market perform" rating in a research report on Wednesday, March 12th. Needham & Company LLC reiterated a "buy" rating and set a $11.00 price objective on shares of Udemy in a research note on Wednesday, March 12th. Scotiabank started coverage on Udemy in a research note on Thursday, December 5th. They set a "sector outperform" rating and a $10.00 price objective on the stock. Canaccord Genuity Group lifted their target price on Udemy from $12.00 to $14.00 and gave the stock a "buy" rating in a research report on Friday, February 14th. Finally, Morgan Stanley upped their price target on Udemy from $7.50 to $9.00 and gave the company an "underweight" rating in a research 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 issued a buy rating to the company. Based on data from MarketBeat, Udemy currently has an average rating of "Moderate Buy" and a consensus price target of $10.95.

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.