Pacer Advisors Inc. Invests $2.68 Million in Udemy, Inc. $UDMY

Pacer Advisors Inc. bought a new position in shares of Udemy, Inc. (NASDAQ:UDMY) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 458,592 shares of the company’s stock, valued at approximately $2,683,000. Pacer Advisors Inc. owned 0.31% of Udemy at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. State of Alaska Department of Revenue purchased a new stake in Udemy during the third quarter valued at about $56,000. Osaic Holdings Inc. purchased a new stake in shares of Udemy during the 2nd quarter worth about $56,000. CIBC Bancorp USA Inc. acquired a new stake in Udemy during the 3rd quarter worth approximately $73,000. Prelude Capital Management LLC acquired a new stake in Udemy during the 3rd quarter worth approximately $79,000. Finally, Prudential Financial Inc. purchased a new position in Udemy in the second quarter valued at approximately $79,000. 79.48% of the stock is currently owned by hedge funds and other institutional investors.

Udemy Stock Performance

Shares of NASDAQ UDMY opened at $4.63 on Friday. Udemy, Inc. has a 12-month low of $4.02 and a 12-month high of $8.09. The company has a market cap of $675.68 million, a price-to-earnings ratio of 231.62 and a beta of 1.59. The stock’s 50 day simple moving average is $4.74 and its 200 day simple moving average is $5.08.

Insiders Place Their Bets

In other news, CFO Sarah Blanchard sold 25,000 shares of the company’s stock in a transaction on Friday, March 13th. The stock was sold at an average price of $4.78, for a total value of $119,500.00. Following the completion of the sale, the chief financial officer owned 1,455,763 shares in the company, valued at $6,958,547.14. This represents a 1.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 3.20% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Canaccord Genuity Group set a $5.00 price target on shares of Udemy in a research report on Monday, February 9th. Weiss Ratings cut Udemy from a “sell (d)” rating to a “sell (e+)” rating in a research note on Monday. Two equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Udemy currently has an average rating of “Hold” and a consensus price target of $8.80.

About Udemy

Udemy, Inc (NASDAQ: UDMY) operates a leading online learning marketplace that connects learners and instructors across a wide range of subject areas. The company’s platform hosts thousands of self-paced video courses covering technology, business, personal development, creative arts and more. Individual learners can purchase courses on demand, while instructors receive revenue share for teaching content to a global audience.

In addition to its consumer-facing marketplace, Udemy provides enterprise learning solutions under the Udemy for Business brand.