Janney Montgomery Scott LLC Buys Shares of 48,327 Udemy, Inc. $UDMY

Key Points

• Janney Montgomery Scott LLC acquired 48,327 shares of Udemy, valued at about $340,000, during the second quarter, indicating growing interest among institutional investors.
• Udemy recently announced a stock repurchase program allowing for the buyback of up to $50 million in shares, suggesting management believes the stock is undervalued.
• Following its earnings report that beat expectations, analyst ratings show mixed sentiment with targets ranging from $9.00 to $11.00, reflecting diverse perspectives on Udemy's future performance.

Janney Montgomery Scott LLC bought a new stake in shares of Udemy, Inc. (NASDAQ:UDMY - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 48,327 shares of the company's stock, valued at approximately $340,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Counterpoint Mutual Funds LLC bought a new stake in Udemy during the 2nd quarter valued at $406,000. Wealth Enhancement Advisory Services LLC bought a new stake in Udemy during the 2nd quarter valued at $156,000. Harbor Capital Advisors Inc. grew its position in shares of Udemy by 54.1% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 20,608 shares of the company's stock valued at $145,000 after purchasing an additional 7,234 shares in the last quarter. Goldman Sachs Group Inc. grew its position in shares of Udemy by 45.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 658,603 shares of the company's stock valued at $5,111,000 after purchasing an additional 205,104 shares in the last quarter. Finally, Rhumbline Advisers grew its position in shares of Udemy by 1.2% during the 1st quarter. Rhumbline Advisers now owns 132,289 shares of the company's stock valued at $1,027,000 after purchasing an additional 1,613 shares in the last quarter. Institutional investors own 79.48% of the company's stock.

Udemy Stock Performance

Shares of NASDAQ:UDMY opened at $6.60 on Monday. Udemy, Inc. has a 52-week low of $5.68 and a 52-week high of $10.61. The firm has a fifty day moving average of $6.87 and a 200 day moving average of $6.90. The firm has a market capitalization of $992.24 million, a PE ratio of -31.43 and a beta of 1.76.

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

Udemy announced that its board has authorized a stock repurchase program on Wednesday, September 10th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the company to repurchase up to 5% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

UDMY has been the subject of a number of recent analyst reports. Cantor Fitzgerald boosted their price target on shares of Udemy from $9.00 to $10.00 and gave the company an "overweight" rating in a research report on Thursday, July 31st. Needham & Company LLC restated a "buy" rating and set a $11.00 price target on shares of Udemy in a research report on Thursday, July 31st. Weiss Ratings restated a "sell (e+)" rating on shares of Udemy in a research report on Wednesday, October 8th. Zacks Research lowered shares of Udemy from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, September 2nd. 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. Five equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $9.75.

Insiders Place Their Bets

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

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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