PDT Partners LLC Makes New $536,000 Investment in Udemy, Inc. (NASDAQ:UDMY)

PDT Partners LLC purchased a new stake in Udemy, Inc. (NASDAQ:UDMY - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 65,078 shares of the company's stock, valued at approximately $536,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Federated Hermes Inc. grew its stake in shares of Udemy by 1,985.5% during the 4th quarter. Federated Hermes Inc. now owns 1,372,593 shares of the company's stock valued at $11,296,000 after buying an additional 1,306,778 shares during the period. Arrowstreet Capital Limited Partnership acquired a new stake in Udemy during the fourth quarter worth about $4,119,000. ExodusPoint Capital Management LP acquired a new position in shares of Udemy in the 4th quarter valued at about $1,610,000. Royce & Associates LP grew its holdings in shares of Udemy by 18.6% during the 4th 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 period. Finally, Susquehanna Fundamental Investments LLC purchased a new position in shares of Udemy in the 4th quarter valued at $1,087,000. Institutional investors and hedge funds own 79.48% of the company's stock.

Udemy Price Performance

Shares of Udemy stock traded up $0.17 during trading on Tuesday, hitting $6.48. The stock had a trading volume of 485,229 shares, compared to its average volume of 973,159. The business has a fifty day moving average of $7.56 and a two-hundred day moving average of $8.02. The firm has a market cap of $963.03 million, a P/E ratio of -11.31 and a beta of 1.82. Udemy, Inc. has a fifty-two week low of $5.68 and a fifty-two week high of $10.61.

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

Wall Street Analyst Weigh In

Several equities research analysts recently commented on UDMY shares. Morgan Stanley dropped their target price on Udemy from $9.00 to $7.00 and set an "underweight" rating on the stock in a report on Wednesday, April 16th. 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. Needham & Company LLC restated a "buy" rating and issued a $11.00 target price on shares of Udemy in a research note on Thursday, May 1st. JPMorgan Chase & Co. decreased their price target on Udemy from $11.00 to $8.00 and set a "neutral" rating for the company in a research note on Thursday, April 24th. Finally, Cantor Fitzgerald reduced their target price on Udemy from $11.00 to $9.00 and set an "overweight" rating on the stock in a report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $9.86.

Insider Activity at Udemy

In related news, CTO Eren Bali sold 10,000 shares of the business's stock in a transaction that occurred 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 transaction, the chief technology officer now directly owns 2,146,050 shares of the company's stock, valued at approximately $17,211,321. The trade was a 0.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Heather Hiles sold 14,840 shares of Udemy stock in a transaction on 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 of the company's stock, valued at $418,563.27. This trade represents a 25.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 105,168 shares of company stock worth $952,186 in the last quarter. 3.20% of the stock is owned by company insiders.

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.