Verition Fund Management LLC purchased a new position in Udemy, Inc. (NASDAQ:UDMY - Free Report) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 219,088 shares of the company's stock, valued at approximately $1,630,000. Verition Fund Management LLC owned 0.15% of Udemy at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of the business. Ariadne Wealth Management LP purchased a new stake in shares of Udemy during the second quarter worth about $67,000. Victory Capital Management Inc. acquired a new stake in Udemy in the 3rd quarter worth about $75,000. Quest Partners LLC increased its stake in Udemy by 6,957.5% during the 2nd quarter. Quest Partners LLC now owns 8,963 shares of the company's stock worth $77,000 after buying an additional 8,836 shares in the last quarter. XTX Topco Ltd acquired a new position in shares of Udemy during the second quarter valued at approximately $93,000. Finally, Renaissance Technologies LLC purchased a new position in shares of Udemy in the second quarter valued at approximately $133,000. Hedge funds and other institutional investors own 79.48% of the company's stock.
Analysts Set New Price Targets
Several research firms have recently weighed in on UDMY. Needham & Company LLC decreased their price target on shares of Udemy from $15.00 to $11.00 and set a "buy" rating on the stock in a research note on Wednesday, October 30th. Morgan Stanley lowered shares of Udemy from an "equal weight" rating to an "underweight" rating and decreased their target price for the stock from $10.00 to $7.50 in a research note on Friday, September 27th. Cantor Fitzgerald dropped their price target on Udemy from $18.00 to $11.00 and set an "overweight" rating for the company in a research report on Wednesday, October 30th. Finally, Scotiabank started coverage on Udemy in a research report on Thursday. They set a "sector outperform" rating and a $10.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $10.92.
Get Our Latest Stock Report on Udemy
Udemy Stock Down 2.1 %
Udemy stock traded down $0.18 during trading on Friday, reaching $8.40. The stock had a trading volume of 559,696 shares, compared to its average volume of 700,805. Udemy, Inc. has a 52-week low of $6.67 and a 52-week high of $16.01. The stock has a market cap of $1.23 billion, a PE ratio of -13.33 and a beta of 1.91. The business has a 50 day moving average price of $8.03 and a 200 day moving average price of $8.16.
Udemy (NASDAQ:UDMY - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $0.07 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.01 by $0.06. Udemy had a negative return on equity of 29.36% and a negative net margin of 12.33%. The company had revenue of $195.42 million during the quarter, compared to the consensus estimate of $192.69 million. During the same period in the previous year, the business earned ($0.10) EPS. Udemy's revenue for the quarter was up 5.8% on a year-over-year basis. On average, equities analysts predict that Udemy, Inc. will post -0.47 EPS for the current fiscal year.
Insider Buying and Selling at Udemy
In related news, CTO Eren Bali sold 35,518 shares of the company's stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $9.00, for a total value of $319,662.00. Following the completion of the sale, the chief technology officer now owns 2,225,532 shares in the company, valued at $20,029,788. This represents a 1.57 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Gregory Scott Brown sold 10,000 shares of the firm's stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $8.50, for a total transaction of $85,000.00. Following the transaction, the chief executive officer now directly owns 1,203,727 shares in the company, valued at $10,231,679.50. The trade was 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 Company Profile
(
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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