Inflection Point Investments LLP Has $4.20 Million Stock Position in Udemy, Inc. (NASDAQ:UDMY)

Inflection Point Investments LLP lessened its stake in Udemy, Inc. (NASDAQ:UDMY - Free Report) by 35.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 541,567 shares of the company's stock after selling 296,334 shares during the quarter. Udemy accounts for approximately 9.1% of Inflection Point Investments LLP's holdings, making the stock its 7th biggest position. Inflection Point Investments LLP owned approximately 0.36% of Udemy worth $4,203,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. Assenagon Asset Management S.A. raised its position in shares of Udemy by 1,814.5% in the 1st quarter. Assenagon Asset Management S.A. now owns 2,678,641 shares of the company's stock worth $20,786,000 after purchasing an additional 2,538,728 shares during the last quarter. Federated Hermes Inc. raised its position in 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 buying an additional 1,306,778 shares during the last quarter. Royce & Associates LP raised its position in Udemy by 18.6% in the 4th quarter. Royce & Associates LP now owns 1,119,359 shares of the company's stock worth $9,212,000 after buying an additional 175,300 shares during the last quarter. Northern Trust Corp raised its position in Udemy by 6.1% in the 4th quarter. Northern Trust Corp now owns 836,920 shares of the company's stock worth $6,888,000 after buying an additional 48,298 shares during the last quarter. Finally, Millennium Management LLC purchased a new position in Udemy in the 4th quarter worth about $5,911,000. Hedge funds and other institutional investors own 79.48% of the company's stock.

Wall Street Analyst Weigh In

UDMY has been the subject of a number of recent analyst reports. Cantor Fitzgerald decreased their target price on Udemy from $11.00 to $9.00 and set an "overweight" rating for the company in a research report on Thursday, May 1st. Truist Financial reissued a "hold" rating and issued a $7.00 target price (down previously from $10.00) on shares of Udemy in a research report on Monday, April 7th. Needham & Company LLC reissued a "buy" rating and issued a $11.00 target price on shares of Udemy in a research report on Thursday, May 1st. William Blair lowered Udemy from an "outperform" rating to a "market perform" rating in a research report on Wednesday, March 12th. Finally, Robert W. Baird cut their price target on Udemy from $13.00 to $11.00 and set an "outperform" rating for the company in a research note on Thursday, May 1st. Five research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $10.05.

Udemy Price Performance

Shares of NASDAQ:UDMY traded down $0.25 during mid-day trading on Friday, reaching $6.90. 1,466,360 shares of the company traded hands, compared to its average volume of 985,032. The company's 50 day moving average price is $6.84 and its 200-day moving average price is $7.82. The firm has a market cap of $1.03 billion, a PE ratio of -12.11 and a beta of 1.81. Udemy, Inc. has a 52 week low of $5.68 and a 52 week high of $10.61.

Udemy (NASDAQ:UDMY - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $200.30 million during the quarter, compared to the consensus estimate of $197.19 million. Udemy had a negative return on equity of 27.93% and a negative net margin of 10.84%. The firm's revenue was up 1.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.03 EPS. On average, research analysts predict that Udemy, Inc. will post -0.09 earnings per share for the current fiscal year.

Insider Activity at Udemy

In related news, CEO Hugo Sarrazin acquired 14,285 shares of the business's stock in a transaction that occurred on Tuesday, May 20th. The stock was bought at an average cost of $7.00 per share, for a total transaction of $99,995.00. Following the purchase, the chief executive officer now owns 24,885 shares in the company, valued at $174,195. The trade was a 134.76% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In the last ninety days, insiders purchased 47,580 shares of company stock worth $330,894. 2.10% of the stock is owned by company insiders.

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.