Balyasny Asset Management L.P. Sells 86,534 Shares of Udemy, Inc. (NASDAQ:UDMY)

Balyasny Asset Management L.P. lessened its position in shares of Udemy, Inc. (NASDAQ:UDMY) by 60.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 57,320 shares of the company’s stock after selling 86,534 shares during the period. Balyasny Asset Management L.P.’s holdings in Udemy were worth $472,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. MetLife Investment Management LLC lifted its holdings in shares of Udemy by 6.2% during the 4th quarter. MetLife Investment Management LLC now owns 59,465 shares of the company’s stock worth $489,000 after acquiring an additional 3,450 shares during the period. SBI Securities Co. Ltd. bought a new stake in shares of Udemy during the 4th quarter worth approximately $31,000. Quarry LP bought a new stake in shares of Udemy during the 4th quarter worth approximately $34,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of Udemy by 14.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 36,064 shares of the company’s stock worth $297,000 after acquiring an additional 4,418 shares during the period. Finally, Handelsbanken Fonder AB lifted its holdings in shares of Udemy by 45.2% during the 4th quarter. Handelsbanken Fonder AB now owns 15,100 shares of the company’s stock worth $124,000 after acquiring an additional 4,700 shares during the period. Institutional investors own 79.48% of the company’s stock.

Insider Activity

In other news, CTO Eren Bali sold 10,000 shares of the stock in a transaction on Friday, March 14th. The shares were sold at an average price of $8.02, for a total transaction of $80,200.00. Following the completion of the sale, the chief technology officer now directly owns 2,146,050 shares in the company, valued at $17,211,321. This represents a 0.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Heather Hiles sold 14,840 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $9.81, for a total transaction of $145,580.40. Following the sale, the director now owns 42,667 shares of the company’s stock, valued at approximately $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. Over the last 90 days, insiders sold 35,686 shares of company stock valued at $326,848. Insiders own 2.10% of the company’s stock.

Udemy Stock Performance

UDMY stock opened at $7.12 on Friday. The company has a fifty day moving average price of $7.15 and a 200-day moving average price of $7.95. The company has a market capitalization of $1.06 billion, a P/E ratio of -12.49 and a beta of 1.82. Udemy, Inc. has a 52-week low of $5.68 and a 52-week high of $10.61.

Udemy (NASDAQ:UDMY) last released its quarterly earnings results on Wednesday, April 30th. The company reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.02. The firm had revenue of $200.30 million during the quarter, compared to the consensus estimate of $197.19 million. Udemy had a negative net margin of 10.84% and a negative return on equity of 27.93%. The company’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.03 earnings per share. As a group, sell-side analysts forecast that Udemy, Inc. will post -0.09 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

UDMY has been the subject of several research reports. William Blair downgraded shares of Udemy from an “outperform” rating to a “market perform” rating in a research note on Wednesday, March 12th. Truist Financial reissued a “hold” rating and issued a $7.00 price objective (down previously from $10.00) on shares of Udemy in a research note on Monday, April 7th. Robert W. Baird dropped their price objective on shares of Udemy from $13.00 to $11.00 and set an “outperform” rating for the company in a research note on Thursday, May 1st. Cantor Fitzgerald dropped their price objective on shares of Udemy from $11.00 to $9.00 and set an “overweight” rating for the company in a research note on Thursday, May 1st. Finally, Needham & Company LLC reissued a “buy” rating and issued a $11.00 price objective on shares of Udemy in a research note on Thursday, May 1st. One analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $9.86.

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.