PDT Partners LLC Raises Stake in Udemy, Inc. $UDMY

Key Points

• PDT Partners LLC increased its stake in Udemy, Inc. by 362.0%, owning 300,653 shares worth approximately $2.33 million.
• Several analysts have recently upgraded Udemy's stock rating, with target prices being revised to a consensus of $9.75.
• Udemy reported a revenue increase of 2.8% year-over-year, posting $199.88 million, and surpassed earnings estimates with an EPS of $0.16.

PDT Partners LLC grew its stake in shares of Udemy, Inc. (NASDAQ:UDMY - Free Report) by 362.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 300,653 shares of the company's stock after purchasing an additional 235,575 shares during the quarter. PDT Partners LLC owned approximately 0.20% of Udemy worth $2,333,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Cubist Systematic Strategies LLC raised its holdings in Udemy by 96.6% during the first quarter. Cubist Systematic Strategies LLC now owns 502,228 shares of the company's stock worth $3,897,000 after purchasing an additional 246,767 shares in the last quarter. Graham Capital Management L.P. raised its holdings in Udemy by 8.7% during the first quarter. Graham Capital Management L.P. now owns 86,193 shares of the company's stock worth $669,000 after purchasing an additional 6,896 shares in the last quarter. Panagora Asset Management Inc. acquired a new stake in Udemy during the first quarter worth approximately $1,348,000. Magnetar Financial LLC acquired a new stake in Udemy during the first quarter worth approximately $260,000. Finally, State of Wyoming raised its holdings in Udemy by 310.2% during the first quarter. State of Wyoming now owns 29,320 shares of the company's stock worth $228,000 after purchasing an additional 22,172 shares in the last quarter. Institutional investors and hedge funds own 79.48% of the company's stock.

Analyst Ratings Changes

A number of research firms have weighed in on UDMY. Wall Street Zen raised shares of Udemy from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 2nd. Morgan Stanley raised shares of Udemy from an "underweight" rating to an "equal weight" rating and raised their price objective for the stock from $7.00 to $9.00 in a report on Thursday, June 5th. Cantor Fitzgerald lifted their target price on shares of Udemy from $9.00 to $10.00 and gave the company an "overweight" rating in a report on Thursday, July 31st. Zacks Research cut shares of Udemy from a "strong-buy" rating to a "hold" rating in a report on Tuesday. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $11.00 target price on shares of Udemy in a report on Thursday, July 31st. Five investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, Udemy presently has an average rating of "Moderate Buy" and an average price target of $9.75.

Insiders Place Their Bets

In related news, CFO Sarah Blanchard sold 25,000 shares of Udemy stock in a transaction on Friday, June 13th. The shares were sold at an average price of $6.99, for a total value of $174,750.00. Following the transaction, the chief financial officer directly owned 1,077,097 shares in the company, valued at $7,528,908.03. This trade represents a 2.27% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 2.10% of the stock is currently owned by company insiders.

Udemy Stock Down 0.4%

NASDAQ:UDMY traded down $0.03 during midday trading on Friday, reaching $6.68. The stock had a trading volume of 1,503,557 shares, compared to its average volume of 1,493,551. The firm has a fifty day simple moving average of $6.99 and a two-hundred day simple moving average of $7.33. Udemy, Inc. has a 12-month low of $5.68 and a 12-month high of $10.61. The stock has a market cap of $1.00 billion, a P/E ratio of -31.81 and a beta of 1.77.

Udemy (NASDAQ:UDMY - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $0.16 earnings per share for the quarter, beating analysts' consensus estimates 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 firm had revenue of $199.88 million for the quarter, compared to analyst estimates of $196.74 million. During the same period last year, the firm posted ($0.04) EPS. Udemy's quarterly revenue was up 2.8% on a year-over-year basis. Udemy has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. On average, sell-side analysts anticipate that Udemy, Inc. will post -0.09 earnings per share for the current fiscal 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.