Udemy (NASDAQ:UDMY) Posts Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Udemy (NASDAQ:UDMY) posted its earnings results on Thursday. The company reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.02, FiscalAI reports. Udemy had a negative net margin of 0.47% and a positive return on equity of 2.11%. The firm had revenue of $193.99 million during the quarter, compared to analyst estimates of $193.40 million.

Udemy Stock Performance

NASDAQ UDMY traded down $0.12 on Thursday, hitting $4.71. 2,129,246 shares of the stock traded hands, compared to its average volume of 1,988,477. The business’s fifty day moving average is $5.38 and its two-hundred day moving average is $6.16. Udemy has a 12 month low of $4.52 and a 12 month high of $10.61. The firm has a market capitalization of $688.72 million, a price-to-earnings ratio of -156.78 and a beta of 1.72.

Insider Activity

In other news, CFO Sarah Blanchard sold 25,000 shares of the company’s stock in a transaction on Monday, December 15th. The stock was sold at an average price of $5.25, for a total transaction of $131,250.00. Following the transaction, the chief financial officer owned 1,208,046 shares of the company’s stock, valued at $6,342,241.50. This represents a 2.03% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 2.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Udemy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. AQR Capital Management LLC lifted its holdings in Udemy by 217.6% during the first quarter. AQR Capital Management LLC now owns 205,212 shares of the company’s stock valued at $1,592,000 after purchasing an additional 140,597 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Udemy by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 54,071 shares of the company’s stock valued at $420,000 after purchasing an additional 2,399 shares during the period. Millennium Management LLC lifted its stake in shares of Udemy by 5.0% during the 1st quarter. Millennium Management LLC now owns 753,782 shares of the company’s stock valued at $5,849,000 after buying an additional 35,577 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in Udemy by 45.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 658,603 shares of the company’s stock worth $5,111,000 after buying an additional 205,104 shares during the period. Finally, Jane Street Group LLC grew its stake in Udemy by 116.6% in the 1st quarter. Jane Street Group LLC now owns 143,497 shares of the company’s stock valued at $1,114,000 after buying an additional 77,260 shares in the last quarter. 79.48% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Canaccord Genuity Group downgraded shares of Udemy from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $12.00 to $7.00 in a research report on Wednesday, December 17th. Wall Street Zen raised Udemy from a “buy” rating to a “strong-buy” rating in a report on Sunday, December 7th. Needham & Company LLC reaffirmed a “buy” rating and set a $11.00 price target on shares of Udemy in a research report on Thursday, October 30th. KeyCorp cut Udemy from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, January 13th. Finally, Zacks Research downgraded Udemy from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 28th. Three equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $9.00.

Udemy Company Profile

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.