Northern Trust Corp Boosts Holdings in Udemy, Inc. (NASDAQ:UDMY)

Northern Trust Corp lifted its position in Udemy, Inc. (NASDAQ:UDMY - Free Report) by 6.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 836,920 shares of the company's stock after buying an additional 48,298 shares during the period. Northern Trust Corp owned approximately 0.57% of Udemy worth $6,888,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Quarry LP purchased a new position in shares of Udemy in the 4th quarter worth $34,000. Aquatic Capital Management LLC bought a new position in Udemy in the 4th quarter worth $533,000. Oxford Asset Management LLP bought a new position in Udemy in the 4th quarter worth $103,000. Boothbay Fund Management LLC bought a new position in Udemy in the 4th quarter worth $89,000. Finally, Susquehanna Fundamental Investments LLC bought a new position in Udemy in the 4th quarter worth $1,087,000. 79.48% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Wall Street Zen cut Udemy from a "strong-buy" rating to a "buy" rating in a report on Thursday. Needham & Company LLC reissued a "buy" rating and set a $11.00 price target on shares of Udemy in a report on Thursday, May 1st. Truist Financial restated a "hold" rating and set a $7.00 price objective (down previously from $10.00) on shares of Udemy in a research report on Monday, April 7th. Canaccord Genuity Group dropped their price target on Udemy from $14.00 to $12.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Finally, William Blair lowered Udemy from an "outperform" rating to a "market perform" rating in a research report on Wednesday, March 12th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat.com, Udemy currently has a consensus rating of "Moderate Buy" and an average target price of $9.86.

Insider Activity at Udemy

In related news, CTO Eren Bali sold 10,000 shares of the business's stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $8.02, for a total value of $80,200.00. Following the completion of the transaction, the chief technology officer now owns 2,146,050 shares of the company's stock, valued at $17,211,321. The trade was a 0.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Hugo Sarrazin acquired 14,285 shares of Udemy stock in a transaction that occurred on Tuesday, May 20th. The stock was acquired at an average cost of $7.00 per share, with a total value of $99,995.00. Following the purchase, the chief executive officer now directly owns 24,885 shares of the company's stock, valued at $174,195. This represents a 134.76% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 47,580 shares of company stock worth $330,894 and sold 20,846 shares worth $181,268. 2.10% of the stock is owned by company insiders.

Udemy Price Performance

Shares of NASDAQ:UDMY traded up $0.04 during trading hours on Friday, hitting $6.87. 870,222 shares of the company's stock traded hands, compared to its average volume of 979,591. The business has a fifty day moving average price of $6.97 and a 200-day moving average price of $7.88. Udemy, Inc. has a 1 year low of $5.68 and a 1 year high of $10.61. The firm has a market capitalization of $1.02 billion, a P/E ratio of -12.05 and a beta of 1.82.

Udemy (NASDAQ:UDMY - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.12 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.10 by $0.02. The firm had revenue of $200.30 million during the quarter, compared to analyst estimates of $197.19 million. Udemy had a negative return on equity of 27.93% and a negative net margin of 10.84%. Udemy's quarterly revenue was up 1.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.03 earnings per share. As a group, equities analysts predict 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.