Vanguard Group Inc. Raises Stock Position in Udemy, Inc. $UDMY

Vanguard Group Inc. increased its position in shares of Udemy, Inc. (NASDAQ:UDMY) by 3.8% during the third quarter, HoldingsChannel.com reports. The fund owned 11,895,585 shares of the company’s stock after acquiring an additional 436,984 shares during the period. Vanguard Group Inc. owned approximately 0.08% of Udemy worth $83,388,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. State of Alaska Department of Revenue purchased a new position in shares of Udemy during the 3rd quarter valued at $56,000. Osaic Holdings Inc. purchased a new stake in shares of Udemy in the second quarter worth $56,000. Prudential Financial Inc. bought a new stake in Udemy during the second quarter valued at $79,000. Tower Research Capital LLC TRC grew its position in Udemy by 339.4% during the second quarter. Tower Research Capital LLC TRC now owns 13,292 shares of the company’s stock worth $93,000 after buying an additional 10,267 shares in the last quarter. Finally, Occudo Quantitative Strategies LP bought a new position in Udemy in the 2nd quarter worth about $94,000. 79.48% of the stock is currently owned by hedge funds and other institutional investors.

Udemy Stock Performance

UDMY stock opened at $4.87 on Friday. The company has a market capitalization of $708.20 million, a PE ratio of 243.62 and a beta of 1.70. Udemy, Inc. has a one year low of $4.35 and a one year high of $9.65. The company’s 50 day moving average price is $5.11 and its two-hundred day moving average price is $5.83.

Udemy (NASDAQ:UDMY) last announced its quarterly earnings data on Thursday, February 5th. The company reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.02. The company had revenue of $193.99 million during the quarter, compared to analysts’ expectations of $193.40 million. Udemy had a net margin of 0.48% and a return on equity of 4.84%. The firm’s revenue was down 3.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.10 EPS. On average, research analysts predict that Udemy, Inc. will post -0.09 EPS for the current year.

Insider Activity

In other news, CFO Sarah Blanchard sold 25,000 shares of Udemy stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $5.25, for a total value of $131,250.00. Following the transaction, the chief financial officer owned 1,208,046 shares in the company, valued at approximately $6,342,241.50. The trade was a 2.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.10% of the company’s stock.

Analysts Set New Price Targets

UDMY has been the subject of a number of research analyst reports. Wall Street Zen upgraded Udemy from a “buy” rating to a “strong-buy” rating in a research report on Sunday, December 7th. Canaccord Genuity Group set a $5.00 target price on shares of Udemy in a research report on Monday, February 9th. Weiss Ratings reissued a “sell (e+)” rating on shares of Udemy in a report on Wednesday, January 21st. KeyCorp cut shares of Udemy from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, January 13th. Finally, Zacks Research downgraded shares of Udemy from a “strong-buy” rating to a “hold” rating in a report on Friday, November 28th. Three analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $8.75.

About Udemy

Udemy, Inc (NASDAQ: UDMY) operates a leading online learning marketplace that connects learners and instructors across a wide range of subject areas. The company’s platform hosts thousands of self-paced video courses covering technology, business, personal development, creative arts and more. Individual learners can purchase courses on demand, while instructors receive revenue share for teaching content to a global audience.

In addition to its consumer-facing marketplace, Udemy provides enterprise learning solutions under the Udemy for Business brand.