Handelsbanken Fonder AB Purchases 4,700 Shares of Udemy, Inc. (NASDAQ:UDMY)

Handelsbanken Fonder AB lifted its position in shares of Udemy, Inc. (NASDAQ:UDMY) by 45.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,100 shares of the company’s stock after acquiring an additional 4,700 shares during the quarter. Handelsbanken Fonder AB’s holdings in Udemy were worth $124,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of UDMY. Barclays PLC boosted its stake in shares of Udemy by 360.6% during the third quarter. Barclays PLC now owns 155,719 shares of the company’s stock valued at $1,158,000 after purchasing an additional 121,911 shares in the last quarter. Verition Fund Management LLC bought a new position in Udemy in the 3rd quarter valued at approximately $1,630,000. Algert Global LLC boosted its position in Udemy by 45.0% during the 3rd quarter. Algert Global LLC now owns 346,062 shares of the company’s stock worth $2,575,000 after buying an additional 107,390 shares during the period. JPMorgan Chase & Co. grew its holdings 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 acquiring an additional 41,145 shares during the last quarter. Finally, State Street Corp increased its position in Udemy by 0.8% in the 3rd quarter. State Street Corp now owns 1,934,473 shares of the company’s stock valued at $14,392,000 after acquiring an additional 15,339 shares during the period. Institutional investors own 79.48% of the company’s stock.

Udemy Stock Performance

NASDAQ:UDMY opened at $9.46 on Tuesday. The business’s fifty day moving average is $8.40 and its 200 day moving average is $8.16. The firm has a market cap of $1.40 billion, a price-to-earnings ratio of -16.60 and a beta of 1.85. Udemy, Inc. has a 52-week low of $6.67 and a 52-week high of $11.65.

Udemy (NASDAQ:UDMY) last posted 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 for the quarter, compared to analysts’ expectations of $194.70 million. Equities analysts predict that Udemy, Inc. will post -0.09 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on UDMY shares. Scotiabank initiated coverage on Udemy in a research note on Thursday, December 5th. They issued a “sector outperform” rating and a $10.00 price target for the company. Canaccord Genuity Group increased their target price on shares of Udemy from $12.00 to $14.00 and gave the company a “buy” rating in a research report on Friday, February 14th. Needham & Company LLC restated a “buy” rating and issued a $11.00 price target on shares of Udemy in a research report on Friday, February 14th. Finally, Morgan Stanley increased their price objective on shares of Udemy from $7.50 to $9.00 and gave the stock an “underweight” rating in a research report on Thursday, February 20th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, Udemy currently has a consensus rating of “Moderate Buy” and a consensus target price of $10.95.

Insider Transactions at Udemy

In other Udemy news, major shareholder Ltd Naspers sold 3,200,000 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $7.84, for a total transaction of $25,088,000.00. Following the sale, the insider now owns 13,920,840 shares in the company, valued at $109,139,385.60. This trade represents a 18.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Heather Hiles sold 14,840 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $9.81, for a total value of $145,580.40. Following the completion of the sale, the director now directly owns 42,667 shares of the company’s stock, valued at approximately $418,563.27. This represents a 25.81 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,294,322 shares of company stock valued at $25,946,018. Insiders own 3.20% of the company’s stock.

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.