Udemy, Inc. (NASDAQ:UDMY) Shares Sold by Twinbeech Capital LP

Twinbeech Capital LP reduced its holdings in shares of Udemy, Inc. (NASDAQ:UDMY - Free Report) by 90.2% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 15,070 shares of the company's stock after selling 139,169 shares during the period. Twinbeech Capital LP's holdings in Udemy were worth $124,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. JPMorgan Chase & Co. raised its position in Udemy by 26.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 198,387 shares of the company's stock valued at $1,476,000 after purchasing an additional 41,145 shares in the last quarter. Nisa Investment Advisors LLC raised its position in Udemy by 496.7% during the 4th quarter. Nisa Investment Advisors LLC now owns 7,220 shares of the company's stock valued at $59,000 after purchasing an additional 6,010 shares in the last quarter. SG Americas Securities LLC raised its position in Udemy by 22.2% during the 4th quarter. SG Americas Securities LLC now owns 29,674 shares of the company's stock valued at $244,000 after purchasing an additional 5,384 shares in the last quarter. Falcon Wealth Planning bought a new stake in Udemy during the 4th quarter valued at $85,000. Finally, Handelsbanken Fonder AB raised its position in Udemy by 45.2% during the 4th quarter. Handelsbanken Fonder AB now owns 15,100 shares of the company's stock valued at $124,000 after purchasing an additional 4,700 shares in the last quarter. 79.48% of the stock is owned by institutional investors.

Udemy Stock Performance

Shares of UDMY stock traded down $0.07 during trading hours on Thursday, reaching $7.31. The company had a trading volume of 160,228 shares, compared to its average volume of 977,354. The stock has a fifty day moving average of $6.89 and a 200-day moving average of $7.87. The company has a market capitalization of $1.09 billion, a price-to-earnings ratio of -12.80 and a beta of 1.82. Udemy, Inc. has a 12-month low of $5.68 and a 12-month high of $10.61.

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, beating analysts' consensus estimates of $0.10 by $0.02. The business had revenue of $200.30 million during the quarter, compared to analyst estimates of $197.19 million. Udemy had a negative return on equity of 27.93% and a negative net margin of 10.84%. The business's revenue was up 1.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.03 earnings per share. On average, analysts forecast that Udemy, Inc. will post -0.09 EPS for the current year.

Insider Activity

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

Analysts Set New Price Targets

Several research analysts have recently commented on UDMY shares. Robert W. Baird reduced their price target on Udemy from $13.00 to $11.00 and set an "outperform" rating for the company in a research report on Thursday, May 1st. William Blair downgraded Udemy from an "outperform" rating to a "market perform" rating in a research note on Wednesday, March 12th. Canaccord Genuity Group dropped their target price on Udemy from $14.00 to $12.00 and set a "buy" rating on the stock in a research note 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 note on Thursday, May 1st. Finally, JPMorgan Chase & Co. dropped their price target on Udemy from $11.00 to $8.00 and set a "neutral" rating on the stock in a research note on Thursday, April 24th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $9.86.

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.