Quantinno Capital Management LP Buys New Position in Udemy, Inc. (NASDAQ:UDMY)

Quantinno Capital Management LP acquired a new position in Udemy, Inc. (NASDAQ:UDMY - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 285,499 shares of the company's stock, valued at approximately $2,350,000. Quantinno Capital Management LP owned 0.20% of Udemy at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of UDMY. Federated Hermes Inc. boosted its position in shares of Udemy by 1,985.5% in 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 in the last quarter. Royce & Associates LP raised its position in Udemy by 18.6% during the fourth quarter. Royce & Associates LP now owns 1,119,359 shares of the company's stock worth $9,212,000 after acquiring an additional 175,300 shares during the period. Northern Trust Corp boosted its stake 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 during the last quarter. Millennium Management LLC acquired a new stake in shares of Udemy in the fourth quarter valued at approximately $5,911,000. Finally, Jacobs Levy Equity Management Inc. raised its stake in Udemy by 97.3% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 628,510 shares of the company's stock worth $5,173,000 after purchasing an additional 310,003 shares during the period. 79.48% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on UDMY. Morgan Stanley dropped their target price on shares of Udemy from $9.00 to $7.00 and set an "underweight" rating for the company in a report on Wednesday, April 16th. Wall Street Zen cut Udemy from a "strong-buy" rating to a "buy" rating in a research report on Thursday. Canaccord Genuity Group reduced their price objective 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. 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 report on Thursday, April 24th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $11.00 price target on shares of Udemy in a research report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Udemy presently has a consensus rating of "Moderate Buy" and a consensus price target of $9.86.

Udemy Stock Performance

Udemy stock traded up $0.04 during midday trading on Monday, reaching $6.87. The company's stock had a trading volume of 870,222 shares, compared to its average volume of 979,591. The firm has a market capitalization of $1.02 billion, a PE ratio of -12.05 and a beta of 1.82. Udemy, Inc. has a fifty-two week low of $5.68 and a fifty-two week high of $10.61. The stock's 50 day simple moving average is $6.97 and its 200 day simple moving average is $7.88.

Udemy (NASDAQ:UDMY - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.12 EPS for the quarter, topping the consensus estimate of $0.10 by $0.02. Udemy had a negative return on equity of 27.93% and a negative net margin of 10.84%. The business had revenue of $200.30 million for the quarter, compared to analyst estimates of $197.19 million. During the same quarter in the previous year, the company earned $0.03 EPS. The company's quarterly revenue was up 1.8% on a year-over-year basis. Equities analysts predict that Udemy, Inc. will post -0.09 earnings per share for the current year.

Insider Activity

In other news, CEO Hugo Sarrazin bought 5,432 shares of the firm's stock in a transaction that occurred on Thursday, May 15th. The shares were purchased at an average price of $6.99 per share, for a total transaction of $37,969.68. Following the completion of the transaction, the chief executive officer now owns 8,832 shares in the company, valued at $61,735.68. The trade was a 159.76% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Gregory Scott Brown sold 10,000 shares of the stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $9.43, for a total value of $94,300.00. Following the transaction, the chief executive officer now directly owns 1,141,896 shares in the company, valued at approximately $10,768,079.28. This represents a 0.87% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have acquired 47,580 shares of company stock worth $330,894 and have sold 20,846 shares worth $181,268. Company insiders own 2.10% of the company's stock.

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.