Vanguard Group Inc. cut its position in shares of Udemy, Inc. (NASDAQ:UDMY - Free Report) by 1.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,507,292 shares of the company's stock after selling 119,265 shares during the period. Vanguard Group Inc. owned about 6.52% of Udemy worth $78,245,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Fox Run Management L.L.C. increased its holdings in Udemy by 280.1% in the 4th quarter. Fox Run Management L.L.C. now owns 58,409 shares of the company's stock valued at $481,000 after buying an additional 43,044 shares during the period. KLP Kapitalforvaltning AS bought a new stake in Udemy in the fourth quarter valued at about $137,000. American Century Companies Inc. acquired a new position in Udemy in the fourth quarter worth about $490,000. Summit Global Investments acquired a new stake in Udemy during the fourth quarter valued at approximately $312,000. Finally, Royce & Associates LP grew its stake in shares of Udemy by 18.6% in the 4th quarter. Royce & Associates LP now owns 1,119,359 shares of the company's stock valued at $9,212,000 after purchasing an additional 175,300 shares during the period. 79.48% of the stock is currently owned by institutional investors and hedge funds.
Udemy Price Performance
Shares of Udemy stock traded up $0.02 on Monday, hitting $6.12. 1,050,437 shares of the company's stock traded hands, compared to its average volume of 960,772. Udemy, Inc. has a one year low of $5.68 and a one year high of $11.60. The stock has a market capitalization of $908.73 million, a PE ratio of -10.74 and a beta of 1.81. The firm's 50-day moving average price is $8.35 and its two-hundred day moving average price is $8.15.
Udemy (NASDAQ:UDMY - Get Free Report) last released its earnings results on Thursday, February 13th. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.10). The company had revenue of $199.94 million during 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 forecast that Udemy, Inc. will post -0.09 earnings per share for the current fiscal year.
Insider Buying and Selling
In other news, CEO Gregory Scott Brown sold 10,000 shares of the firm's stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $9.43, for a total transaction of $94,300.00. Following the sale, the chief executive officer now owns 1,141,896 shares of the company's stock, valued at $10,768,079.28. This trade represents a 0.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Ltd Naspers sold 3,200,000 shares of the business'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 value of $25,088,000.00. Following the completion of the transaction, the insider now owns 13,920,840 shares of the company's stock, valued at $109,139,385.60. This represents a 18.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 3,305,168 shares of company stock valued at $26,040,186 in the last 90 days. 3.20% of the stock is owned by insiders.
Analyst Ratings Changes
Several analysts recently commented on UDMY shares. Truist Financial reaffirmed a "hold" rating and issued a $7.00 price target (down previously from $10.00) on shares of Udemy in a research note on Monday, April 7th. William Blair downgraded shares of Udemy from an "outperform" rating to a "market perform" rating in a report on Wednesday, March 12th. Needham & Company LLC reaffirmed a "buy" rating and set a $11.00 price objective on shares of Udemy in a research note on Wednesday, March 12th. Canaccord Genuity Group boosted their target price on Udemy from $12.00 to $14.00 and gave the stock a "buy" rating in a report on Friday, February 14th. Finally, Morgan Stanley lifted their price objective on Udemy from $7.50 to $9.00 and gave the company an "underweight" rating in a research report on Thursday, February 20th. One analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $10.68.
Read Our Latest Report on UDMY
About Udemy
(
Free Report)
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.
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