Udemy, Inc. (NASDAQ:UDMY) Shares Acquired by Y Intercept Hong Kong Ltd

Key Points

• Y Intercept Hong Kong Ltd significantly increased its holdings in Udemy, Inc. by 482.0% during the 1st quarter, acquiring an additional 93,911 shares to own 113,394 shares valued at approximately $880,000.
• Several analysts have revised their price targets for Udemy, with Cantor Fitzgerald lowering it from $11 to $9 while maintaining an "overweight" rating, reflecting a more cautious outlook on the company's stock performance.
• Insider activity shows CEO Hugo Sarrazin purchased 22,695 shares valued at around $156,822, indicating a potential confidence boost in the company’s future.

Y Intercept Hong Kong Ltd raised its position in Udemy, Inc. (NASDAQ:UDMY - Free Report) by 482.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 113,394 shares of the company's stock after buying an additional 93,911 shares during the quarter. Y Intercept Hong Kong Ltd owned approximately 0.08% of Udemy worth $880,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. MetLife Investment Management LLC raised its stake in shares of Udemy by 6.2% during the fourth quarter. MetLife Investment Management LLC now owns 59,465 shares of the company's stock worth $489,000 after purchasing an additional 3,450 shares during the last quarter. New York State Common Retirement Fund raised its stake in shares of Udemy by 18.1% during the first quarter. New York State Common Retirement Fund now owns 27,138 shares of the company's stock worth $211,000 after purchasing an additional 4,159 shares during the last quarter. Quarry LP purchased a new stake in shares of Udemy during the fourth quarter worth approximately $34,000. Price T Rowe Associates Inc. MD raised its stake in shares of Udemy by 14.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 36,064 shares of the company's stock worth $297,000 after purchasing an additional 4,418 shares during the last quarter. Finally, Vega Investment Solutions purchased a new stake in shares of Udemy during the fourth quarter worth approximately $46,000. Hedge funds and other institutional investors own 79.48% of the company's stock.

Udemy Price Performance

Udemy stock traded down $0.31 during trading hours on Tuesday, hitting $7.10. The stock had a trading volume of 369,067 shares, compared to its average volume of 1,190,095. The stock has a market capitalization of $1.06 billion, a price-to-earnings ratio of -15.47 and a beta of 1.77. Udemy, Inc. has a 1-year low of $5.68 and a 1-year high of $10.61. The stock's fifty day moving average is $7.09 and its two-hundred day moving average is $7.54.

Udemy (NASDAQ:UDMY - Get Free Report) last posted its earnings results on Wednesday, April 30th. The company reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.02. The company had revenue of $200.30 million for the quarter, compared to analyst estimates of $197.19 million. Udemy had a negative return on equity of 22.68% and a negative net margin of 8.70%. Udemy's revenue was up 1.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.03 earnings per share. As a group, sell-side analysts anticipate that Udemy, Inc. will post -0.09 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. JPMorgan Chase & Co. cut their price target on Udemy from $11.00 to $8.00 and set a "neutral" rating for the company in a research note on Thursday, April 24th. Morgan Stanley upgraded Udemy from an "underweight" rating to an "equal weight" rating and upped their price target for the stock from $7.00 to $9.00 in a research note on Thursday, June 5th. Cantor Fitzgerald cut their price target on Udemy from $11.00 to $9.00 and set an "overweight" rating for the company in a research note on Thursday, May 1st. Canaccord Genuity Group cut their price objective on Udemy from $14.00 to $12.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Finally, Truist Financial reiterated a "hold" rating and issued a $7.00 price objective (down previously from $10.00) on shares of Udemy in a research report on Monday, April 7th. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Udemy currently has an average rating of "Moderate Buy" and a consensus target price of $9.75.

Insider Buying and Selling at Udemy

In other news, CEO Hugo Sarrazin bought 22,695 shares of the stock in a transaction on Wednesday, May 21st. The shares were bought at an average price of $6.91 per share, with a total value of $156,822.45. Following the completion of the acquisition, the chief executive officer owned 47,580 shares of the company's stock, valued at approximately $328,777.80. This trade represents a 91.20% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Sarah Blanchard sold 25,000 shares of the company's stock in a transaction on Friday, June 13th. The shares were sold at an average price of $6.99, for a total value of $174,750.00. Following the completion of the sale, the chief financial officer directly owned 1,077,097 shares in the company, valued at $7,528,908.03. This trade represents a 2.27% decrease in their position. The disclosure for this sale can be found here. Insiders acquired 47,580 shares of company stock worth $330,894 in the last three months. 3.20% of the stock is owned by corporate insiders.

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.