Connor Clark & Lunn Investment Management Ltd. Invests $831,000 in Udemy, Inc. (NASDAQ:UDMY)

Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Udemy, Inc. (NASDAQ:UDMY) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 100,929 shares of the company’s stock, valued at approximately $831,000.

A number of other hedge funds also recently made changes to their positions in UDMY. Victory Capital Management Inc. bought a new position in shares of Udemy during the third quarter worth about $75,000. Intech Investment Management LLC bought a new stake in Udemy in the third quarter worth approximately $161,000. Charles Schwab Investment Management Inc. increased its holdings in Udemy by 3.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 761,920 shares of the company’s stock worth $5,669,000 after purchasing an additional 27,959 shares in the last quarter. Algert Global LLC increased its holdings in Udemy by 45.0% in the third quarter. Algert Global LLC now owns 346,062 shares of the company’s stock worth $2,575,000 after purchasing an additional 107,390 shares in the last quarter. Finally, Summit Trail Advisors LLC increased its holdings in Udemy by 939.8% in the third quarter. Summit Trail Advisors LLC now owns 366,795 shares of the company’s stock worth $2,729,000 after purchasing an additional 331,521 shares in the last quarter. 79.48% of the stock is currently owned by institutional investors.

Udemy Price Performance

Shares of NASDAQ:UDMY opened at $8.51 on Friday. The stock has a market cap of $1.26 billion, a price-to-earnings ratio of -14.93 and a beta of 1.76. Udemy, Inc. has a 12-month low of $6.67 and a 12-month high of $11.60. The business’s 50 day moving average is $8.56 and its 200 day moving average is $8.24.

Udemy (NASDAQ:UDMY) last announced its earnings results on Thursday, February 13th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.10). The company had revenue of $199.94 million for the quarter, compared to analysts’ expectations of $194.70 million. Udemy had a negative net margin of 10.84% and a negative return on equity of 27.93%. As a group, equities research analysts expect that Udemy, Inc. will post -0.09 earnings per share for the current year.

Insider Activity at Udemy

In other Udemy news, CTO Eren Bali sold 69,482 shares of the business’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $9.00, for a total value of $625,338.00. Following the transaction, the chief technology officer now owns 2,156,050 shares of the company’s stock, valued at approximately $19,404,450. The trade was a 3.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Ltd Naspers sold 3,200,000 shares of the business’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $7.84, for a total value of $25,088,000.00. Following the completion of the transaction, the insider now directly owns 13,920,840 shares in the company, valued at approximately $109,139,385.60. This represents a 18.69 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,304,322 shares of company stock valued at $26,033,418 over the last 90 days. Insiders own 3.20% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on UDMY shares. Needham & Company LLC reiterated a “buy” rating and issued a $11.00 target price on shares of Udemy in a report on Wednesday, March 12th. Morgan Stanley lifted their target price on Udemy from $7.50 to $9.00 and gave the stock an “underweight” rating in a report on Thursday, February 20th. Canaccord Genuity Group boosted their price objective on Udemy from $12.00 to $14.00 and gave the company a “buy” rating in a report on Friday, February 14th. William Blair downgraded Udemy from an “outperform” rating to a “market perform” rating in a report on Wednesday, March 12th. Finally, Scotiabank began coverage on Udemy in a report on Thursday, December 5th. They set a “sector outperform” rating and a $10.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $10.95.

Udemy Company 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.