Vanguard Group Inc. Reduces Stock Position in Udemy, Inc. (NASDAQ:UDMY)

Vanguard Group Inc. trimmed its holdings in Udemy, Inc. (NASDAQ:UDMY) by 1.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,507,292 shares of the company’s stock after selling 119,265 shares during the period. Vanguard Group Inc. owned about 0.07% of Udemy worth $78,245,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in UDMY. Fox Run Management L.L.C. raised its holdings in Udemy by 280.1% in the fourth quarter. Fox Run Management L.L.C. now owns 58,409 shares of the company’s stock valued at $481,000 after acquiring an additional 43,044 shares in the last quarter. KLP Kapitalforvaltning AS bought a new stake in shares of Udemy in the 4th quarter worth about $137,000. American Century Companies Inc. acquired a new stake in shares of Udemy in the 4th quarter valued at about $490,000. Summit Global Investments acquired a new stake in shares of Udemy in the 4th quarter valued at about $312,000. Finally, Royce & Associates LP lifted its position in shares of Udemy by 18.6% during the fourth quarter. Royce & Associates LP now owns 1,119,359 shares of the company’s stock worth $9,212,000 after purchasing an additional 175,300 shares during the last quarter. 79.48% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Udemy Stock Performance

Udemy stock opened at $6.30 on Friday. The firm has a market capitalization of $935.46 million, a P/E ratio of -11.05 and a beta of 1.81. The company has a 50-day simple moving average of $8.38 and a 200-day simple moving average of $8.17. Udemy, Inc. has a one year low of $5.68 and a one year high of $11.60.

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

Insider Activity at Udemy

In related news, CTO Eren Bali sold 10,000 shares of the stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $8.02, for a total value of $80,200.00. Following the completion of the transaction, the chief technology officer now owns 2,146,050 shares in the company, valued at $17,211,321. This represents a 0.46 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, major shareholder Ltd Naspers sold 3,200,000 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $7.84, for a total transaction of $25,088,000.00. Following the transaction, the insider now directly owns 13,920,840 shares in the company, valued at approximately $109,139,385.60. The trade was a 18.69 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,305,168 shares of company stock worth $26,040,186 in the last three months. 3.20% of the stock is owned by company insiders.

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.