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

Mackenzie Financial Corp bought a new stake in Udemy, Inc. (NASDAQ:UDMY - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 152,894 shares of the company's stock, valued at approximately $1,186,000. Mackenzie Financial Corp owned approximately 0.10% of Udemy as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in UDMY. Deutsche Bank AG grew its holdings in Udemy by 100.8% in the 4th quarter. Deutsche Bank AG now owns 112,775 shares of the company's stock valued at $928,000 after buying an additional 56,619 shares in the last quarter. BNP Paribas Financial Markets purchased a new stake in Udemy during the fourth quarter worth $716,000. Teacher Retirement System of Texas acquired a new position in Udemy in the first quarter valued at $97,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Udemy by 17.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 181,864 shares of the company's stock worth $1,497,000 after buying an additional 27,673 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in Udemy by 558.3% during the 1st quarter. GAMMA Investing LLC now owns 6,945 shares of the company's stock worth $54,000 after buying an additional 5,890 shares during the last quarter. 79.48% of the stock is currently owned by institutional investors.

Udemy Trading Up 2.2%

UDMY opened at $7.43 on Tuesday. The stock's 50 day simple moving average is $7.13 and its 200-day simple moving average is $7.50. The stock has a market cap of $1.12 billion, a PE ratio of -35.38 and a beta of 1.78. Udemy, Inc. has a 1 year low of $5.68 and a 1 year high of $10.61.

Udemy (NASDAQ:UDMY - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $0.16 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.12 by $0.04. Udemy had a negative return on equity of 5.19% and a negative net margin of 3.85%. The company had revenue of $199.88 million during the quarter, compared to analysts' expectations of $196.74 million. During the same period last year, the firm posted ($0.04) earnings per share. The business's revenue was up 2.8% on a year-over-year basis. Equities analysts forecast that Udemy, Inc. will post -0.09 earnings per share for the current fiscal year.

Insider Activity at Udemy

In other news, CFO Sarah Blanchard sold 25,000 shares of the firm's stock in a transaction on Friday, June 13th. The stock was sold at an average price of $6.99, for a total value 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 $7,528,908.03. This trade represents a 2.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Hugo Sarrazin acquired 22,695 shares of Udemy stock in a transaction dated Wednesday, May 21st. The shares were bought at an average cost of $6.91 per share, for a total transaction of $156,822.45. Following the completion of the purchase, the chief executive officer directly owned 47,580 shares of the company's stock, valued at approximately $328,777.80. The trade was a 91.20% increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders bought 47,580 shares of company stock valued at $330,894. Company insiders own 3.20% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on UDMY. JPMorgan Chase & Co. decreased their target price on Udemy from $11.00 to $8.00 and set a "neutral" rating for the company in a research note on Thursday, April 24th. Needham & Company LLC reissued a "buy" rating and set a $11.00 price target on shares of Udemy in a research report on Thursday, July 31st. Cantor Fitzgerald increased their price target on Udemy from $9.00 to $10.00 and gave the company an "overweight" rating in a research note on Thursday, July 31st. Robert W. Baird reduced their target price on Udemy from $13.00 to $11.00 and set an "outperform" rating for the company in a research note on Thursday, May 1st. Finally, Truist Financial reissued a "hold" rating and set a $7.00 target price (down previously from $10.00) on shares of Udemy in a research report on Monday, April 7th. Four research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $10.00.

About Udemy

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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