Udemy, Inc. (NASDAQ:UDMY) Shares Sold by Insight Holdings Group LLC

Insight Holdings Group LLC lessened its stake in Udemy, Inc. (NASDAQ:UDMYFree Report) by 9.5% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 38,032,260 shares of the company’s stock after selling 4,000,000 shares during the period. Udemy comprises approximately 13.5% of Insight Holdings Group LLC’s portfolio, making the stock its 3rd largest position. Insight Holdings Group LLC owned 24.80% of Udemy worth $560,215,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Udemy by 19.3% in the third quarter. Vanguard Group Inc. now owns 8,860,490 shares of the company’s stock worth $84,175,000 after acquiring an additional 1,433,980 shares in the last quarter. Inflection Point Investments LLP acquired a new position in shares of Udemy in the fourth quarter worth $21,390,000. Charles Schwab Investment Management Inc. grew its stake in shares of Udemy by 3.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 689,768 shares of the company’s stock worth $10,160,000 after acquiring an additional 23,652 shares in the last quarter. Pathway Capital Management LP acquired a new position in shares of Udemy in the fourth quarter worth $3,983,000. Finally, Federated Hermes Inc. acquired a new position in shares of Udemy in the fourth quarter worth $3,303,000. Institutional investors and hedge funds own 79.48% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Sarah Blanchard sold 45,000 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $9.53, for a total value of $428,850.00. Following the sale, the chief financial officer now directly owns 1,096,663 shares in the company, valued at $10,451,198.39. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Sarah Blanchard sold 45,000 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $9.53, for a total value of $428,850.00. Following the sale, the chief financial officer now directly owns 1,096,663 shares in the company, valued at $10,451,198.39. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Gregory Scott Brown sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $11.04, for a total transaction of $110,400.00. Following the transaction, the chief executive officer now directly owns 1,163,328 shares in the company, valued at approximately $12,843,141.12. The disclosure for this sale can be found here. Over the last three months, insiders have sold 92,086 shares of company stock worth $938,281. 3.20% of the stock is owned by company insiders.

Udemy Trading Up 1.3 %

Shares of Udemy stock traded up $0.12 on Friday, reaching $9.29. 785,766 shares of the stock were exchanged, compared to its average volume of 946,433. Udemy, Inc. has a 1-year low of $8.60 and a 1-year high of $16.01. The business has a fifty day moving average price of $10.28 and a two-hundred day moving average price of $12.32. The firm has a market capitalization of $1.42 billion, a PE ratio of -17.53 and a beta of 2.12.

Udemy (NASDAQ:UDMYGet Free Report) last issued its quarterly earnings results on Thursday, May 2nd. The company reported ($0.11) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.02. Udemy had a negative net margin of 10.82% and a negative return on equity of 23.10%. The business had revenue of $196.85 million for the quarter, compared to analyst estimates of $194.83 million. Research analysts expect that Udemy, Inc. will post -0.45 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Jefferies Financial Group lowered their target price on shares of Udemy from $14.00 to $11.00 and set a “hold” rating for the company in a research note on Monday, April 29th. Cantor Fitzgerald reiterated an “overweight” rating and set a $20.00 target price on shares of Udemy in a research note on Friday, May 3rd. JPMorgan Chase & Co. boosted their target price on shares of Udemy from $11.00 to $12.00 and gave the stock a “neutral” rating in a research note on Thursday, February 15th. Morgan Stanley lowered their target price on shares of Udemy from $15.00 to $13.00 and set an “equal weight” rating for the company in a research note on Friday, April 19th. Finally, Robert W. Baird lowered their target price on shares of Udemy from $15.00 to $13.00 and set an “outperform” rating for the company in a research note on Friday, May 3rd. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, Udemy has an average rating of “Moderate Buy” and an average price target of $13.90.

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Udemy Profile

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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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Institutional Ownership by Quarter for Udemy (NASDAQ:UDMY)

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