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

Assenagon Asset Management S.A. lifted its holdings in shares of Udemy, Inc. (NASDAQ:UDMY - Free Report) by 1,814.5% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,678,641 shares of the company's stock after acquiring an additional 2,538,728 shares during the period. Assenagon Asset Management S.A. owned 1.80% of Udemy worth $20,786,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. SBI Securities Co. Ltd. acquired a new stake in Udemy during the 4th quarter worth $31,000. Quarry LP acquired a new position in Udemy in the fourth quarter valued at $34,000. Vega Investment Solutions purchased a new position in shares of Udemy during the fourth quarter worth about $46,000. GAMMA Investing LLC increased its position in shares of Udemy by 558.3% during the first quarter. GAMMA Investing LLC now owns 6,945 shares of the company's stock worth $54,000 after purchasing an additional 5,890 shares in the last quarter. Finally, State of Wyoming acquired a new stake in shares of Udemy during the fourth quarter worth about $59,000. Institutional investors and hedge funds own 79.48% of the company's stock.

Insider Transactions at Udemy

In other Udemy news, CEO Hugo Sarrazin purchased 22,695 shares of the firm's stock in a transaction that occurred on Wednesday, May 21st. The shares were purchased 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 now directly owns 47,580 shares in the company, valued at $328,777.80. This represents a 91.20% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In the last three months, insiders acquired 47,580 shares of company stock valued at $330,894. Corporate insiders own 2.10% of the company's stock.

Udemy Stock Performance

Udemy stock traded down $0.25 during trading hours on Friday, reaching $6.90. 1,466,360 shares of the stock were exchanged, compared to its average volume of 983,977. Udemy, Inc. has a 52-week low of $5.68 and a 52-week high of $10.61. The stock has a market cap of $1.03 billion, a P/E ratio of -12.11 and a beta of 1.81. The firm's 50 day moving average is $6.84 and its 200 day moving average is $7.82.

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

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Truist Financial reissued a "hold" rating and issued a $7.00 target price (down from $10.00) on shares of Udemy in a research report on Monday, April 7th. Canaccord Genuity Group decreased their price objective on Udemy from $14.00 to $12.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Needham & Company LLC restated a "buy" rating and set a $11.00 target price on shares of Udemy in a research report on Thursday, May 1st. Cantor Fitzgerald cut their target price on shares of Udemy from $11.00 to $9.00 and set an "overweight" rating on the stock in a report on Thursday, May 1st. Finally, Wall Street Zen upgraded shares of Udemy from a "buy" rating to a "strong-buy" rating in a research report on Saturday, June 7th. Five analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Udemy currently has a consensus rating of "Moderate Buy" and an average target price of $10.05.

Udemy Company 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.