Dimensional Fund Advisors LP Cuts Position in Udemy, Inc. (NASDAQ:UDMY)

Dimensional Fund Advisors LP trimmed its position in Udemy, Inc. (NASDAQ:UDMY - Free Report) by 10.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 338,762 shares of the company's stock after selling 37,681 shares during the quarter. Dimensional Fund Advisors LP owned 0.23% of Udemy worth $2,787,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of UDMY. SBI Securities Co. Ltd. purchased a new position in shares of Udemy in the 4th quarter worth about $31,000. Nisa Investment Advisors LLC raised its holdings in shares of Udemy by 496.7% during the 4th quarter. Nisa Investment Advisors LLC now owns 7,220 shares of the company's stock valued at $59,000 after buying an additional 6,010 shares during the period. Falcon Wealth Planning purchased a new stake in shares of Udemy during the 4th quarter valued at about $85,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Udemy during the 4th quarter valued at about $95,000. Finally, Coign Capital Advisors LLC purchased a new stake in shares of Udemy during the 4th quarter valued at about $117,000. 79.48% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Udemy

In other Udemy news, CEO Gregory Scott Brown sold 10,000 shares of Udemy stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $9.43, for a total transaction of $94,300.00. Following the sale, the chief executive officer now owns 1,141,896 shares of the company's stock, valued at $10,768,079.28. The trade was a 0.87% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 value of $145,580.40. Following the sale, the director now directly owns 42,667 shares in the company, valued at $418,563.27. The trade was a 25.81% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 105,168 shares of company stock valued at $952,186 in the last quarter. Corporate insiders own 2.10% of the company's stock.

Udemy Price Performance

NASDAQ:UDMY opened at $7.14 on Wednesday. Udemy, Inc. has a 12-month low of $5.68 and a 12-month high of $10.61. The firm has a market capitalization of $1.06 billion, a P/E ratio of -12.53 and a beta of 1.82. The business has a 50 day simple moving average of $7.27 and a 200 day simple moving average of $7.97.

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

Analysts Set New Price Targets

Several equities research analysts recently commented on UDMY shares. Canaccord Genuity Group dropped their target price on Udemy from $14.00 to $12.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. JPMorgan Chase & Co. dropped their target price on Udemy from $11.00 to $8.00 and set a "neutral" rating on the stock in a report on Thursday, April 24th. Needham & Company LLC reiterated a "buy" rating and set a $11.00 target price on shares of Udemy in a report on Thursday, May 1st. 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. Finally, Robert W. Baird dropped their target price on Udemy from $13.00 to $11.00 and set an "outperform" 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 stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $9.86.

Udemy Company 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.

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