Corebridge Financial Inc. Sells 5,870 Shares of Udemy, Inc. (NASDAQ:UDMY)

Corebridge Financial Inc. trimmed its position in shares of Udemy, Inc. (NASDAQ:UDMY) by 11.5% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 45,259 shares of the company’s stock after selling 5,870 shares during the period. Corebridge Financial Inc.’s holdings in Udemy were worth $372,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of UDMY. SBI Securities Co. Ltd. acquired a new position in shares of Udemy in the fourth quarter valued at $31,000. Point72 DIFC Ltd acquired a new position in Udemy in the 3rd quarter valued at about $30,000. Handelsbanken Fonder AB raised its holdings in Udemy by 45.2% in the 4th quarter. Handelsbanken Fonder AB now owns 15,100 shares of the company’s stock valued at $124,000 after acquiring an additional 4,700 shares during the period. SG Americas Securities LLC lifted its position in Udemy by 22.2% during the fourth quarter. SG Americas Securities LLC now owns 29,674 shares of the company’s stock worth $244,000 after acquiring an additional 5,384 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Udemy by 0.3% during the third quarter. Geode Capital Management LLC now owns 2,216,868 shares of the company’s stock worth $16,497,000 after acquiring an additional 5,972 shares during the period. Institutional investors own 79.48% of the company’s stock.

Analyst Upgrades and Downgrades

UDMY has been the subject of several recent research reports. Canaccord Genuity Group boosted their price target on Udemy from $12.00 to $14.00 and gave the company a “buy” rating in a research note on Friday, February 14th. Morgan Stanley boosted their price objective on Udemy from $7.50 to $9.00 and gave the stock an “underweight” rating in a research report on Thursday, February 20th. Needham & Company LLC reaffirmed a “buy” rating and set a $11.00 target price on shares of Udemy in a research report on Wednesday, March 12th. Truist Financial restated a “hold” rating and issued a $7.00 price target (down previously from $10.00) on shares of Udemy in a research report on Monday. Finally, William Blair lowered Udemy from an “outperform” rating to a “market perform” rating in a research report on Wednesday, March 12th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Udemy presently has a consensus rating of “Moderate Buy” and an average price target of $10.68.

Insider Activity at Udemy

In related news, CEO Gregory Scott Brown sold 10,000 shares of the business’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $9.43, for a total transaction of $94,300.00. Following the sale, the chief executive officer now directly owns 1,141,896 shares in the company, valued at approximately $10,768,079.28. The trade was a 0.87 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Heather Hiles sold 14,840 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $9.81, for a total transaction of $145,580.40. Following the completion of the transaction, the director now owns 42,667 shares of the company’s stock, valued at $418,563.27. This trade represents a 25.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,305,168 shares of company stock worth $26,040,186. Company insiders own 3.20% of the company’s stock.

Udemy Stock Performance

Udemy stock opened at $6.80 on Thursday. The stock has a market cap of $1.00 billion, a PE ratio of -11.93 and a beta of 1.81. The firm’s 50-day simple moving average is $8.40 and its 200 day simple moving average is $8.18. Udemy, Inc. has a fifty-two week low of $5.68 and a fifty-two week high of $11.60.

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

About Udemy

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.