Udemy, Inc. (NASDAQ:UDMY) Stock Holdings Trimmed by Sycomore Asset Management

Sycomore Asset Management lessened its holdings in shares of Udemy, Inc. (NASDAQ:UDMY) by 7.7% in the fourth quarter, HoldingsChannel reports. The fund owned 160,729 shares of the company’s stock after selling 13,416 shares during the period. Sycomore Asset Management’s holdings in Udemy were worth $2,421,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in Udemy by 19.3% during the third quarter. Vanguard Group Inc. now owns 8,860,490 shares of the company’s stock worth $84,175,000 after purchasing an additional 1,433,980 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Udemy by 21.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 666,116 shares of the company’s stock worth $6,328,000 after buying an additional 117,846 shares in the last quarter. Federated Hermes Inc. acquired a new stake in shares of Udemy in the fourth quarter valued at $3,303,000. Allspring Global Investments Holdings LLC bought a new position in Udemy during the fourth quarter valued at about $3,057,000. Finally, Swiss National Bank grew its holdings in Udemy by 2.0% during the third quarter. Swiss National Bank now owns 145,200 shares of the company’s stock worth $1,379,000 after acquiring an additional 2,800 shares during the period. Institutional investors own 79.48% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on UDMY. Morgan Stanley cut their price target on shares of Udemy from $15.00 to $13.00 and set an “equal weight” rating for the company in a report on Friday, April 19th. KeyCorp lifted their target price on Udemy from $13.00 to $15.00 and gave the stock an “overweight” rating in a report on Friday, January 12th. JPMorgan Chase & Co. upped their target price on Udemy from $11.00 to $12.00 and gave the company a “neutral” rating in a report on Thursday, February 15th. Robert W. Baird lifted their price target on Udemy from $15.00 to $17.00 and gave the stock an “outperform” rating in a research note on Thursday, February 15th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $20.00 price objective on shares of Udemy in a research note on Thursday, February 15th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $14.78.

Udemy Price Performance

Udemy stock traded down $0.17 during mid-day trading on Wednesday, hitting $10.04. The company’s stock had a trading volume of 483,679 shares, compared to its average volume of 896,686. Udemy, Inc. has a 52-week low of $8.17 and a 52-week high of $16.01. The company has a market cap of $1.54 billion, a PE ratio of -13.94 and a beta of 2.14. The firm’s 50 day moving average is $10.75 and its 200 day moving average is $12.30.

Udemy (NASDAQ:UDMY) last posted its quarterly earnings results on Wednesday, February 14th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.04. The business had revenue of $189.55 million during the quarter, compared to analyst estimates of $185.71 million. Udemy had a negative net margin of 14.72% and a negative return on equity of 27.31%. As a group, analysts forecast that Udemy, Inc. will post -0.47 EPS for the current year.

Insider Buying and Selling at Udemy

In other news, CTO Venu Venugopal sold 4,000 shares of the company’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $13.79, for a total value of $55,160.00. Following the transaction, the chief technology officer now directly owns 352,013 shares of the company’s stock, valued at $4,854,259.27. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Gregory Scott Brown sold 10,000 shares of Udemy stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $11.04, for a total transaction of $110,400.00. Following the completion of the sale, the chief executive officer now directly owns 1,163,328 shares in the company, valued at approximately $12,843,141.12. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CTO Venu Venugopal sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $13.79, for a total transaction of $55,160.00. Following the transaction, the chief technology officer now directly owns 352,013 shares in the company, valued at approximately $4,854,259.27. The disclosure for this sale can be found here. Insiders sold 50,981 shares of company stock valued at $570,044 in the last quarter. Company insiders own 3.20% of the company’s stock.

Udemy Profile

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.