Mackenzie Financial Corp Invests $1.19 Million in Udemy, Inc. (NASDAQ:UDMY)

Mackenzie Financial Corp acquired a new position in shares of Udemy, Inc. (NASDAQ:UDMY - Free Report) in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 152,894 shares of the company's stock, valued at approximately $1,186,000. Mackenzie Financial Corp owned about 0.10% of Udemy as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Assenagon Asset Management S.A. increased its stake in Udemy by 1,814.5% during the first quarter. Assenagon Asset Management S.A. now owns 2,678,641 shares of the company's stock worth $20,786,000 after acquiring an additional 2,538,728 shares during the last quarter. Federated Hermes Inc. grew its holdings in shares of Udemy by 1,985.5% during the 4th quarter. Federated Hermes Inc. now owns 1,372,593 shares of the company's stock worth $11,296,000 after purchasing an additional 1,306,778 shares during the period. Northern Trust Corp increased its position in Udemy by 6.1% during the 4th quarter. Northern Trust Corp now owns 836,920 shares of the company's stock worth $6,888,000 after purchasing an additional 48,298 shares in the last quarter. Millennium Management LLC purchased a new position in Udemy in the fourth quarter valued at approximately $5,911,000. Finally, Jacobs Levy Equity Management Inc. raised its holdings in Udemy by 97.3% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 628,510 shares of the company's stock valued at $5,173,000 after buying an additional 310,003 shares during the period. 79.48% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Udemy

In related news, CEO Hugo Sarrazin acquired 22,695 shares of Udemy stock in a transaction on Wednesday, May 21st. The shares were purchased at an average cost of $6.91 per share, for a total transaction of $156,822.45. Following the purchase, the chief executive officer directly owned 47,580 shares of the company's stock, valued at $328,777.80. The trade was a 91.20% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Sarah Blanchard sold 25,000 shares of the business's stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $6.99, for a total transaction of $174,750.00. Following the completion of the sale, the chief financial officer directly owned 1,077,097 shares of the company's stock, valued at $7,528,908.03. The trade was a 2.27% decrease in their position. The disclosure for this sale can be found here. Insiders purchased 47,580 shares of company stock worth $330,894 over the last ninety days. 2.10% of the stock is currently owned by corporate insiders.

Udemy Stock Performance

Shares of NASDAQ UDMY traded down $0.01 during midday trading on Friday, reaching $7.14. 596,789 shares of the company's stock were exchanged, compared to its average volume of 1,238,848. Udemy, Inc. has a 52-week low of $5.68 and a 52-week high of $10.61. The business's fifty day moving average price is $7.13 and its two-hundred day moving average price is $7.49. The stock has a market capitalization of $1.07 billion, a PE ratio of -33.97 and a beta of 1.78.

Udemy (NASDAQ:UDMY - Get Free Report) last posted its quarterly earnings data 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. The company 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%. Udemy's revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.04) EPS. Analysts predict that Udemy, Inc. will post -0.09 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

UDMY has been the subject of several research reports. Robert W. Baird decreased their price objective on shares of Udemy from $13.00 to $11.00 and set an "outperform" rating for the company in a research note on Thursday, May 1st. Canaccord Genuity Group decreased their price target on shares of Udemy from $14.00 to $12.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Wall Street Zen raised Udemy from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 2nd. Needham & Company LLC restated a "buy" rating and set a $11.00 price objective on shares of Udemy in a research note on Thursday, July 31st. Finally, Cantor Fitzgerald increased their target price on Udemy from $9.00 to $10.00 and gave the company an "overweight" rating in a research note on Thursday, July 31st. Four analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $10.00.

Udemy Company 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.