Millennium Management LLC Invests $5.91 Million in Udemy, Inc. (NASDAQ:UDMY)

Millennium Management LLC acquired a new position in Udemy, Inc. (NASDAQ:UDMY - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 718,205 shares of the company's stock, valued at approximately $5,911,000. Millennium Management LLC owned approximately 0.49% of Udemy as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently bought and sold shares of the stock. MetLife Investment Management LLC grew its holdings in shares of Udemy by 6.2% during the fourth quarter. MetLife Investment Management LLC now owns 59,465 shares of the company's stock worth $489,000 after buying an additional 3,450 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in Udemy during the fourth quarter worth approximately $31,000. Quarry LP purchased a new stake in Udemy in the 4th quarter worth approximately $34,000. Price T Rowe Associates Inc. MD raised its holdings in Udemy by 14.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 36,064 shares of the company's stock valued at $297,000 after acquiring an additional 4,418 shares during the last quarter. Finally, Handelsbanken Fonder AB raised its holdings in Udemy by 45.2% in the 4th quarter. Handelsbanken Fonder AB now owns 15,100 shares of the company's stock valued at $124,000 after acquiring an additional 4,700 shares during the last quarter. Institutional investors and hedge funds own 79.48% of the company's stock.

Udemy Stock Performance

Shares of NASDAQ:UDMY traded up $0.03 during midday trading on Friday, hitting $7.32. 989,718 shares of the company's stock traded hands, compared to its average volume of 980,775. The firm's fifty day moving average price is $6.86 and its two-hundred day moving average price is $7.86. Udemy, Inc. has a twelve month low of $5.68 and a twelve month high of $10.61. The company has a market cap of $1.09 billion, a PE ratio of -12.84 and a beta of 1.82.

Udemy (NASDAQ:UDMY - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $0.12 EPS for the quarter, topping 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 company had revenue of $200.30 million for the quarter, compared to analysts' expectations of $197.19 million. During the same quarter in the previous year, the firm posted $0.03 earnings per share. The firm's quarterly revenue was up 1.8% on a year-over-year basis. As a group, equities research analysts anticipate that Udemy, Inc. will post -0.09 EPS for the current fiscal year.

Analyst Ratings Changes

UDMY has been the subject of a number of recent analyst reports. William Blair downgraded Udemy from an "outperform" rating to a "market perform" rating in a research report on Wednesday, March 12th. Truist Financial restated a "hold" rating and issued a $7.00 price target (down previously from $10.00) on shares of Udemy in a report on Monday, April 7th. Cantor Fitzgerald cut their price objective on shares of Udemy from $11.00 to $9.00 and set an "overweight" rating on the stock in a report on Thursday, May 1st. Robert W. Baird lowered their target price on shares of Udemy from $13.00 to $11.00 and set an "outperform" rating for the company in a report on Thursday, May 1st. Finally, Morgan Stanley dropped their price target 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. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $9.86.

Insider Buying and Selling at Udemy

In related news, CEO Gregory Scott Brown sold 10,000 shares of the stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $9.43, for a total value of $94,300.00. Following the completion of the transaction, the chief executive officer now owns 1,141,896 shares of the company's stock, valued at approximately $10,768,079.28. This represents a 0.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Hugo Sarrazin bought 5,432 shares of the business's stock in a transaction on Thursday, May 15th. The stock was acquired at an average cost of $6.99 per share, for a total transaction of $37,969.68. Following the completion of the transaction, the chief executive officer now owns 8,832 shares in the company, valued at $61,735.68. This represents a 159.76% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 47,580 shares of company stock valued at $330,894 and sold 20,846 shares valued at $181,268. 2.10% of the stock is owned by corporate 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.