Bayesian Capital Management LP Buys Shares of 47,020 Udemy, Inc. (NASDAQ:UDMY)

Bayesian Capital Management LP bought a new position in shares of Udemy, Inc. (NASDAQ:UDMY - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 47,020 shares of the company's stock, valued at approximately $387,000.

A number of other hedge funds have also modified their holdings of UDMY. Federated Hermes Inc. raised its stake in Udemy by 1,985.5% during the fourth quarter. Federated Hermes Inc. now owns 1,372,593 shares of the company's stock worth $11,296,000 after purchasing an additional 1,306,778 shares during the period. Arrowstreet Capital Limited Partnership acquired a new position in Udemy in the fourth quarter valued at approximately $4,119,000. ExodusPoint Capital Management LP purchased a new position in Udemy in the fourth quarter worth approximately $1,610,000. Royce & Associates LP increased its stake in Udemy by 18.6% during the fourth quarter. Royce & Associates LP now owns 1,119,359 shares of the company's stock worth $9,212,000 after acquiring an additional 175,300 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in Udemy in the fourth quarter valued at $1,087,000. 79.48% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Udemy

In related news, Director Heather Hiles sold 14,840 shares of the company's stock in a transaction dated 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 $418,563.27. This represents a 25.81 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Eren Bali sold 69,482 shares of Udemy stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $9.00, for a total value of $625,338.00. Following the transaction, the chief technology officer now directly owns 2,156,050 shares in the company, valued at approximately $19,404,450. This trade represents a 3.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 105,168 shares of company stock worth $952,186 over the last 90 days. Corporate insiders own 2.10% of the company's stock.

Udemy Stock Performance

Shares of NASDAQ:UDMY traded down $0.01 on Friday, hitting $6.76. 563,054 shares of the company's stock were exchanged, compared to its average volume of 974,020. Udemy, Inc. has a 1-year low of $5.68 and a 1-year high of $10.61. The company has a market capitalization of $1.01 billion, a PE ratio of -11.86 and a beta of 1.82. The firm's 50-day moving average is $7.32 and its 200 day moving average is $7.98.

Udemy (NASDAQ:UDMY - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.12 EPS 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 for the quarter, compared to analyst estimates of $197.19 million. During the same period in the prior year, the firm posted $0.03 earnings per share. The firm's revenue was up 1.8% on a year-over-year basis. On average, analysts anticipate that Udemy, Inc. will post -0.09 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Cantor Fitzgerald decreased their target price on shares of Udemy from $11.00 to $9.00 and set an "overweight" rating on the stock in a research report on Thursday, May 1st. Needham & Company LLC restated a "buy" rating and set a $11.00 price target on shares of Udemy 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. JPMorgan Chase & Co. decreased their target price on Udemy from $11.00 to $8.00 and set a "neutral" rating on the stock in a research note on Thursday, April 24th. Finally, Truist Financial reaffirmed a "hold" rating and issued a $7.00 target price (down from $10.00) on shares of Udemy in a research report on Monday, April 7th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $9.86.

Udemy 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.