BNP Paribas Financial Markets Acquires Shares of 87,003 Udemy, Inc. (NASDAQ:UDMY)

BNP Paribas Financial Markets acquired 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 acquired 87,003 shares of the company's stock, valued at approximately $716,000. BNP Paribas Financial Markets owned 0.06% of Udemy as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the stock. SBI Securities Co. Ltd. bought a new stake in Udemy during the 4th quarter valued at $31,000. Quarry LP purchased a new position in shares of Udemy in the fourth quarter valued at about $34,000. Nisa Investment Advisors LLC increased its position in shares of Udemy by 496.7% in the fourth quarter. Nisa Investment Advisors LLC now owns 7,220 shares of the company's stock valued at $59,000 after acquiring an additional 6,010 shares during the period. Falcon Wealth Planning bought a new position in shares of Udemy during the fourth quarter valued at about $85,000. Finally, Nebula Research & Development LLC purchased a new stake in shares of Udemy during the fourth quarter worth about $85,000. Hedge funds and other institutional investors own 79.48% of the company's stock.

Insider Transactions at Udemy

In related news, CTO Eren Bali sold 10,000 shares of the company's stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $8.02, for a total value of $80,200.00. Following the transaction, the chief technology officer now owns 2,146,050 shares in the company, valued at $17,211,321. The trade was a 0.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Hugo Sarrazin acquired 22,695 shares of Udemy stock in a transaction on Wednesday, May 21st. The shares were purchased at an average price of $6.91 per share, with a total value of $156,822.45. Following the completion of the purchase, the chief executive officer now owns 47,580 shares in the company, valued at $328,777.80. This represents a 91.20% increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 47,580 shares of company stock valued at $330,894 and have sold 20,846 shares valued at $181,268. Insiders own 2.10% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on UDMY. Morgan Stanley reduced their price target on Udemy from $9.00 to $7.00 and set an "underweight" rating on the stock in a report on Wednesday, April 16th. Truist Financial reiterated a "hold" rating and issued a $7.00 price objective (down from $10.00) on shares of Udemy in a research report on Monday, April 7th. Cantor Fitzgerald reduced their target price on Udemy from $11.00 to $9.00 and set an "overweight" rating on the stock in a research note on Thursday, May 1st. Canaccord Genuity Group decreased their target price on Udemy from $14.00 to $12.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $11.00 price target on shares of Udemy in a report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $9.86.

Udemy Trading Up 0.9%

UDMY opened at $6.83 on Friday. The company has a market cap of $1.02 billion, a price-to-earnings ratio of -11.98 and a beta of 1.82. The stock has a fifty day simple moving average of $7.00 and a two-hundred day simple moving average of $7.91. Udemy, Inc. has a 12-month low of $5.68 and a 12-month high of $10.61.

Udemy (NASDAQ:UDMY - Get Free Report) last released its earnings results on Wednesday, April 30th. The company reported $0.12 earnings per share for the quarter, topping analysts' consensus estimates 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 firm had revenue of $200.30 million for the quarter, compared to the consensus estimate of $197.19 million. During the same period in the prior year, the firm earned $0.03 EPS. The company's revenue was up 1.8% compared to the same quarter last year. On average, analysts predict that Udemy, Inc. will post -0.09 EPS for the current year.

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.

Want to see what other hedge funds are holding UDMY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Udemy, Inc. (NASDAQ:UDMY - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.