Price T Rowe Associates Inc. MD Purchases 4,418 Shares of Udemy, Inc. (NASDAQ:UDMY)

Price T Rowe Associates Inc. MD boosted its stake in shares of Udemy, Inc. (NASDAQ:UDMY) by 14.0% during the fourth quarter, Holdings Channel.com reports. The fund owned 36,064 shares of the company’s stock after acquiring an additional 4,418 shares during the period. Price T Rowe Associates Inc. MD’s holdings in Udemy were worth $297,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. SBI Securities Co. Ltd. bought a new stake in Udemy during the 4th quarter worth $31,000. JPMorgan Chase & Co. raised its stake in Udemy by 26.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 198,387 shares of the company’s stock worth $1,476,000 after buying an additional 41,145 shares during the period. Cornerstone Investment Partners LLC bought a new stake in Udemy during the 4th quarter worth approximately $219,000. Handelsbanken Fonder AB increased its holdings in 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 purchasing an additional 4,700 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of Udemy in the fourth quarter valued at approximately $164,000. Institutional investors and hedge funds own 79.48% of the company’s stock.

Wall Street Analysts Forecast Growth

UDMY has been the subject of several research reports. Truist Financial reissued a “hold” rating and set a $7.00 price objective (down from $10.00) on shares of Udemy in a report on Monday, April 7th. Canaccord Genuity Group lowered their price target on Udemy from $14.00 to $12.00 and set a “buy” rating on the stock in a research report on Thursday, May 1st. William Blair cut Udemy from an “outperform” rating to a “market perform” rating in a research note on Wednesday, March 12th. Morgan Stanley lowered their price objective on shares of Udemy from $9.00 to $7.00 and set an “underweight” rating for the company in a report on Wednesday, April 16th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Udemy from $11.00 to $8.00 and set a “neutral” rating for the company in a report on Thursday, April 24th. One 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. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $9.86.

Insider Buying and Selling at Udemy

In other news, Director Heather Hiles sold 14,840 shares of the company’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $9.81, for a total transaction of $145,580.40. Following the sale, the director now directly owns 42,667 shares in the company, valued at approximately $418,563.27. This represents a 25.81% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Gregory Scott Brown sold 10,000 shares of the stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $9.43, for a total transaction of $94,300.00. Following the completion of the sale, the chief executive officer now directly owns 1,141,896 shares in the company, valued at $10,768,079.28. This trade represents a 0.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 35,686 shares of company stock valued at $326,848 in the last 90 days. Insiders own 2.10% of the company’s stock.

Udemy Trading Up 1.1%

Shares of UDMY opened at $7.12 on Friday. The firm has a market cap of $1.06 billion, a PE ratio of -12.49 and a beta of 1.82. The firm has a fifty day simple moving average of $7.15 and a two-hundred day simple moving average of $7.95. Udemy, Inc. has a 1-year low of $5.68 and a 1-year high of $10.61.

Udemy (NASDAQ:UDMY) last issued its earnings results on Wednesday, April 30th. The company reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.02. The company 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%. Udemy’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.03 EPS. As a group, research analysts forecast that Udemy, Inc. will post -0.09 EPS for the current fiscal year.

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.