Assenagon Asset Management S.A. Trims Stock Holdings in Udemy, Inc. $UDMY

Key Points

• Assenagon Asset Management S.A. reduced its stake in Udemy, Inc. by 2.2%, now holding approximately 1.76% of the company, valued at $18.4 million.
• Various institutional investors have increased their holdings in Udemy, with Vanguard raising its position by 12.2% and Goldman Sachs increasing by 45.2% in the first quarter.
• Udemy's stock has been given a consensus rating of "Moderate Buy" by analysts, with a target price of $9.75, while the company's recent earnings report topped expectations.

Assenagon Asset Management S.A. decreased its stake in Udemy, Inc. (NASDAQ:UDMY - Free Report) by 2.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,619,867 shares of the company's stock after selling 58,774 shares during the quarter. Assenagon Asset Management S.A. owned approximately 1.76% of Udemy worth $18,418,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. increased its position in Udemy by 12.2% in the first quarter. Vanguard Group Inc. now owns 10,663,298 shares of the company's stock worth $82,747,000 after buying an additional 1,156,006 shares in the last quarter. Federated Hermes Inc. increased its position in Udemy by 0.6% in the first quarter. Federated Hermes Inc. now owns 1,380,278 shares of the company's stock worth $10,711,000 after buying an additional 7,685 shares in the last quarter. Millennium Management LLC boosted its stake in shares of Udemy by 5.0% in the first quarter. Millennium Management LLC now owns 753,782 shares of the company's stock worth $5,849,000 after acquiring an additional 35,577 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of Udemy by 45.2% in the first quarter. Goldman Sachs Group Inc. now owns 658,603 shares of the company's stock worth $5,111,000 after acquiring an additional 205,104 shares during the period. Finally, Cubist Systematic Strategies LLC boosted its stake in shares of Udemy by 96.6% in the first quarter. Cubist Systematic Strategies LLC now owns 502,228 shares of the company's stock worth $3,897,000 after acquiring an additional 246,767 shares during the period. Hedge funds and other institutional investors own 79.48% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on UDMY shares. Cantor Fitzgerald upped their price objective on Udemy from $9.00 to $10.00 and gave the stock an "overweight" rating in a research note on Thursday, July 31st. Needham & Company LLC reaffirmed a "buy" rating and issued a $11.00 price objective on shares of Udemy in a research note on Thursday, July 31st. Morgan Stanley raised Udemy from an "underweight" rating to an "equal weight" rating and upped their price objective for the stock from $7.00 to $9.00 in a research note on Thursday, June 5th. Wall Street Zen raised Udemy from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 2nd. Finally, Zacks Research lowered Udemy from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, September 2nd. Five equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat.com, Udemy currently has an average rating of "Moderate Buy" and a consensus target price of $9.75.

Insider Buying and Selling

In other Udemy news, CFO Sarah Blanchard sold 25,000 shares of the firm's stock in a transaction on Monday, September 15th. The stock was sold at an average price of $7.08, for a total transaction of $177,000.00. Following the transaction, the chief financial officer directly owned 1,287,953 shares in the company, valued at $9,118,707.24. This trade represents a 1.90% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 3.20% of the stock is owned by insiders.

Udemy Stock Performance

Shares of NASDAQ UDMY opened at $7.30 on Tuesday. The business's 50 day moving average price is $7.03 and its 200-day moving average price is $7.10. Udemy, Inc. has a fifty-two week low of $5.68 and a fifty-two week high of $10.61. The company has a market cap of $1.10 billion, a price-to-earnings ratio of -34.76 and a beta of 1.77.

Udemy (NASDAQ:UDMY - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.04. The firm had revenue of $199.88 million for the quarter, compared to the consensus estimate of $196.74 million. Udemy had a negative return on equity of 5.19% and a negative net margin of 3.85%.The company's revenue for the quarter was up 2.8% on a year-over-year basis. During the same period in the prior year, the business posted ($0.04) earnings per share. Udemy has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Sell-side analysts predict that Udemy, Inc. will post -0.09 earnings per share for the current year.

Udemy declared that its board has approved a stock repurchase program on Wednesday, September 10th that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 5% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's leadership believes its stock is undervalued.

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.

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