Assenagon Asset Management S.A. Boosts Stock Holdings in Udemy, Inc. (NASDAQ:UDMY)

Assenagon Asset Management S.A. lifted its stake in shares of Udemy, Inc. (NASDAQ:UDMY - Free Report) by 1,814.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,678,641 shares of the company's stock after purchasing an additional 2,538,728 shares during the period. Assenagon Asset Management S.A. owned 1.80% of Udemy worth $20,786,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. SBI Securities Co. Ltd. acquired a new position in shares of Udemy during the 4th quarter worth approximately $31,000. Deutsche Bank AG boosted its holdings in shares of Udemy by 100.8% during the 4th quarter. Deutsche Bank AG now owns 112,775 shares of the company's stock worth $928,000 after purchasing an additional 56,619 shares during the last quarter. BNP Paribas Financial Markets acquired a new position in shares of Udemy during the 4th quarter worth approximately $716,000. Cornerstone Investment Partners LLC acquired a new position in shares of Udemy during the 4th quarter worth approximately $219,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Udemy by 17.9% during the 4th 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 purchasing an additional 27,673 shares during the last quarter. 79.48% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Hugo Sarrazin acquired 14,285 shares of the business's stock in a transaction dated Tuesday, May 20th. The shares were acquired at an average price of $7.00 per share, with a total value of $99,995.00. Following the completion of the transaction, the chief executive officer now owns 24,885 shares of the company's stock, valued at $174,195. The trade was a 134.76% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Sarah Blanchard sold 25,000 shares of the company'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 sale, the chief financial officer now directly owns 1,077,097 shares in the company, valued at $7,528,908.03. This represents a 2.27% decrease in their position. The disclosure for this sale can be found here. Insiders have bought 47,580 shares of company stock worth $330,894 over the last ninety days. Corporate insiders own 2.10% of the company's stock.

Udemy Stock Up 1.9%

NASDAQ:UDMY traded up $0.13 during trading hours on Monday, reaching $7.03. 1,016,432 shares of the stock were exchanged, compared to its average volume of 985,158. The business has a 50-day moving average of $6.87 and a two-hundred day moving average of $7.81. Udemy, Inc. has a twelve month low of $5.68 and a twelve month high of $10.61. The company has a market capitalization of $1.05 billion, a price-to-earnings ratio of -12.33 and a beta of 1.81.

Udemy (NASDAQ:UDMY - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The company reported $0.12 EPS for the quarter, topping analysts' consensus estimates 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 company had revenue of $200.30 million for the quarter, compared to analysts' expectations of $197.19 million. During the same period in the prior year, the firm earned $0.03 earnings per share. The firm's revenue was up 1.8% compared to the same quarter last year. On average, research analysts forecast that Udemy, Inc. will post -0.09 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently commented on UDMY. Morgan Stanley upgraded Udemy from an "underweight" rating to an "equal weight" rating and upped their price objective for the company from $7.00 to $9.00 in a report on Thursday, June 5th. Needham & Company LLC reiterated a "buy" rating and issued a $11.00 price objective on shares of Udemy in a report on Thursday, May 1st. Wall Street Zen upgraded Udemy from a "buy" rating to a "strong-buy" rating in a report on Saturday, June 7th. Canaccord Genuity Group decreased their price objective on Udemy from $14.00 to $12.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Finally, JPMorgan Chase & Co. decreased their price objective on Udemy from $11.00 to $8.00 and set a "neutral" rating on the stock in a report on Thursday, April 24th. Five investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $10.05.

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.