Voya Investment Management LLC Trims Holdings in Udemy, Inc. $UDMY

Key Points

• Voya Investment Management LLC has reduced its stake in Udemy, Inc. by 33.4%, now owning 265,068 shares valued at approximately $2.06 million.
• Udemy has reported a net loss for the previous quarter but exceeded revenue expectations with $199.88 million, marking a 2.8% year-over-year increase.
• The company has approved a share buyback program allowing for the repurchase of up to $50 million of its stock, indicating a belief that their shares are undervalued.

Voya Investment Management LLC reduced its stake in Udemy, Inc. (NASDAQ:UDMY - Free Report) by 33.4% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 265,068 shares of the company's stock after selling 132,738 shares during the period. Voya Investment Management LLC owned 0.18% of Udemy worth $2,057,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in UDMY. Rhumbline Advisers increased its holdings in shares of Udemy by 1.2% in the first quarter. Rhumbline Advisers now owns 132,289 shares of the company's stock valued at $1,027,000 after buying an additional 1,613 shares in the last quarter. Strs Ohio bought a new stake in Udemy during the first quarter worth about $178,000. Focus Partners Wealth boosted its stake in Udemy by 1.9% in the first quarter. Focus Partners Wealth now owns 79,437 shares of the company's stock valued at $616,000 after acquiring an additional 1,468 shares during the last quarter. Jane Street Group LLC boosted its position in shares of Udemy by 116.6% during the first quarter. Jane Street Group LLC now owns 143,497 shares of the company's stock worth $1,114,000 after purchasing an additional 77,260 shares in the last quarter. Finally, Caxton Associates LLP acquired a new stake in shares of Udemy during the first quarter worth $327,000. Institutional investors own 79.48% of the company's stock.

Udemy Price Performance

NASDAQ:UDMY traded up $0.05 during mid-day trading on Monday, hitting $7.30. 1,566,411 shares of the stock traded hands, compared to its average volume of 1,688,177. Udemy, Inc. has a 12-month low of $5.68 and a 12-month high of $10.61. The business's 50-day moving average price is $7.03 and its 200 day moving average price is $7.10.

Udemy (NASDAQ:UDMY - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.04. Udemy had a negative net margin of 3.85% and a negative return on equity of 5.19%. The business had revenue of $199.88 million during the quarter, compared to analyst estimates of $196.74 million. During the same period in the previous year, the business posted ($0.04) earnings per share. Udemy's revenue for the quarter was up 2.8% on a year-over-year basis. Udemy has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. As a group, sell-side analysts forecast that Udemy, Inc. will post -0.09 EPS for the current fiscal year.

Udemy declared that its Board of Directors has initiated a share buyback plan on Wednesday, September 10th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 5% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's management believes its shares are undervalued.

Analyst Ratings Changes

UDMY has been the topic of several recent analyst reports. Morgan Stanley upgraded shares of Udemy from an "underweight" rating to an "equal weight" rating and boosted their price objective for the stock from $7.00 to $9.00 in a research note on Thursday, June 5th. Cantor Fitzgerald upped their price target on shares of Udemy from $9.00 to $10.00 and gave the company an "overweight" rating in a research report on Thursday, July 31st. Zacks Research cut shares of Udemy from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, September 2nd. Wall Street Zen upgraded shares of Udemy from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 2nd. Finally, Needham & Company LLC restated a "buy" rating and issued a $11.00 price target on shares of Udemy in a report on Thursday, July 31st. Five equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, Udemy has a consensus rating of "Moderate Buy" and an average target price of $9.75.

Insider Buying and Selling at Udemy

In other news, CFO Sarah Blanchard sold 25,000 shares of the business's stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $7.08, for a total value of $177,000.00. Following the completion of the sale, the chief financial officer directly owned 1,287,953 shares in the company, valued at approximately $9,118,707.24. The trade was a 1.90% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 3.20% 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.