Connor Clark & Lunn Investment Management Ltd. Has $1.87 Million Stock Holdings in Udemy, Inc. (NASDAQ:UDMY)

Key Points

• Connor Clark & Lunn Investment Management Ltd. increased its holdings in Udemy, Inc. by 139.2% in the 1st quarter, owning 241,465 shares valued at approximately $1.87 million.
• Vanguard Group Inc. also raised its stake in Udemy by 12.2%, now holding over 10.6 million shares worth about $82.7 million.
• Wall Street analysts have mixed views on Udemy, with a consensus rating of "Moderate Buy" and a target price averaging at $9.75.

Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Udemy, Inc. (NASDAQ:UDMY - Free Report) by 139.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 241,465 shares of the company's stock after purchasing an additional 140,536 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.16% of Udemy worth $1,874,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in Udemy by 12.2% in the 1st quarter. Vanguard Group Inc. now owns 10,663,298 shares of the company's stock valued at $82,747,000 after buying an additional 1,156,006 shares during the last quarter. XTX Topco Ltd acquired a new position in Udemy in the 1st quarter valued at about $314,000. Federated Hermes Inc. grew its stake in Udemy by 0.6% in the 1st quarter. Federated Hermes Inc. now owns 1,380,278 shares of the company's stock valued at $10,711,000 after buying an additional 7,685 shares during the last quarter. Mackenzie Financial Corp acquired a new position in Udemy in the 1st quarter valued at about $1,186,000. Finally, Y Intercept Hong Kong Ltd grew its stake in Udemy by 482.0% in the 1st quarter. Y Intercept Hong Kong Ltd now owns 113,394 shares of the company's stock valued at $880,000 after buying an additional 93,911 shares during the last quarter. 79.48% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

UDMY has been the topic of a number of analyst reports. Cantor Fitzgerald increased their target price on shares of Udemy from $9.00 to $10.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. JPMorgan Chase & Co. decreased their target price on shares of Udemy from $11.00 to $8.00 and set a "neutral" rating on the stock in a research report on Thursday, April 24th. Morgan Stanley upgraded shares of Udemy from an "underweight" rating to an "equal weight" rating and increased their target price for the stock from $7.00 to $9.00 in a research report on Thursday, June 5th. Robert W. Baird decreased their target price on shares of Udemy from $13.00 to $11.00 and set an "outperform" rating on the stock in a research report on Thursday, May 1st. Finally, Wall Street Zen upgraded shares of Udemy from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 2nd. Four research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Udemy presently has an average rating of "Moderate Buy" and a consensus price target of $9.75.

Insider Activity at Udemy

In related news, CEO Hugo Sarrazin acquired 22,695 shares of the company's stock in a transaction that occurred on Wednesday, May 21st. The stock was acquired at an average price of $6.91 per share, with a total value of $156,822.45. Following the purchase, the chief executive officer directly owned 47,580 shares in the company, valued at approximately $328,777.80. This trade represents a 91.20% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Sarah Blanchard sold 25,000 shares of the stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $6.99, for a total transaction of $174,750.00. Following the completion of the transaction, the chief financial officer directly owned 1,077,097 shares of the company's stock, valued at approximately $7,528,908.03. The trade was a 2.27% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders purchased 38,748 shares of company stock valued at $269,158. 2.10% of the stock is owned by insiders.

Udemy Trading Down 0.6%

Shares of Udemy stock opened at $6.79 on Friday. The company has a 50 day moving average of $7.05 and a 200-day moving average of $7.46. Udemy, Inc. has a 1-year low of $5.68 and a 1-year high of $10.61. The company has a market cap of $1.02 billion, a PE ratio of -32.33 and a beta of 1.78.

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 analysts' consensus estimates of $0.12 by $0.04. The company had revenue of $199.88 million during the quarter, compared to the consensus estimate of $196.74 million. Udemy had a negative net margin of 3.85% and a negative return on equity of 5.19%. The firm's quarterly revenue was up 2.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.04) EPS. Research analysts forecast that Udemy, Inc. will post -0.09 earnings per share 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.

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