Dark Forest Capital Management LP Takes Position in Udemy, Inc. (NASDAQ:UDMY)

Dark Forest Capital Management LP bought a new stake in shares of Udemy, Inc. (NASDAQ:UDMY - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 38,213 shares of the company's stock, valued at approximately $314,000.

Several other hedge funds and other institutional investors have also made changes to their positions in UDMY. Barclays PLC lifted its stake in shares of Udemy by 360.6% in the third quarter. Barclays PLC now owns 155,719 shares of the company's stock worth $1,158,000 after buying an additional 121,911 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of Udemy in the fourth quarter valued at approximately $31,000. JPMorgan Chase & Co. boosted its stake in Udemy by 26.2% during the third 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 last quarter. Cornerstone Investment Partners LLC purchased a new stake in Udemy in the 4th quarter valued at $219,000. Finally, Geode Capital Management LLC raised its holdings in shares of Udemy by 0.3% during the 3rd quarter. Geode Capital Management LLC now owns 2,216,868 shares of the company's stock worth $16,497,000 after acquiring an additional 5,972 shares during the period. Hedge funds and other institutional investors own 79.48% of the company's stock.

Udemy Stock Up 1.1 %

Shares of UDMY stock traded up $0.07 during trading hours on Friday, hitting $6.49. 975,993 shares of the company were exchanged, compared to its average volume of 984,282. Udemy, Inc. has a 1 year low of $5.68 and a 1 year high of $11.60. The firm has a fifty day moving average of $7.69 and a 200 day moving average of $8.04. The firm has a market cap of $965.26 million, a PE ratio of -11.39 and a beta of 1.81.

Udemy (NASDAQ:UDMY - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $0.12 earnings per share (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 during the quarter, compared to analysts' expectations of $197.19 million. During the same period in the previous year, the company earned $0.03 EPS. The business's quarterly revenue was up 1.8% compared to the same quarter last year. Analysts expect that Udemy, Inc. will post -0.09 earnings per share for the current year.

Insider Buying and Selling

In other Udemy news, Director Heather Hiles sold 14,840 shares of the firm's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $9.81, for a total value of $145,580.40. Following the transaction, the director now owns 42,667 shares of the company's stock, valued at $418,563.27. This trade represents a 25.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO Eren Bali sold 69,482 shares of the company's stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $9.00, for a total transaction of $625,338.00. Following the completion of the transaction, the chief technology officer now owns 2,156,050 shares of the company's stock, 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. In the last three months, insiders sold 105,168 shares of company stock valued at $952,186. Company insiders own 3.20% of the company's stock.

Analysts Set New Price Targets

UDMY has been the subject of several analyst reports. JPMorgan Chase & Co. dropped their price target on shares of Udemy from $11.00 to $8.00 and set a "neutral" rating for the company in a research note on Thursday, April 24th. Canaccord Genuity Group decreased their target price on shares of Udemy from $14.00 to $12.00 and set a "buy" rating on the stock in a research report on Thursday. 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 research report on Wednesday, April 16th. Robert W. Baird dropped their price objective on Udemy from $13.00 to $11.00 and set an "outperform" rating for the company in a research note on Thursday. 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 stock. Based on data from MarketBeat, the stock 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.