Y Intercept Hong Kong Ltd Acquires 93,911 Shares of Udemy, Inc. (NASDAQ:UDMY)

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 increased its holdings in Udemy, Inc. (NASDAQ:UDMY - Free Report) by 482.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 113,394 shares of the company's stock after purchasing an additional 93,911 shares during the quarter. Y Intercept Hong Kong Ltd owned approximately 0.08% of Udemy worth $880,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. MetLife Investment Management LLC raised its holdings 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 valued at $489,000 after purchasing an additional 3,450 shares during the period. New York State Common Retirement Fund increased its stake in Udemy by 18.1% in the 1st quarter. New York State Common Retirement Fund now owns 27,138 shares of the company's stock valued at $211,000 after buying an additional 4,159 shares during the last quarter. Quarry LP purchased a new stake in Udemy in the 4th quarter valued at about $34,000. Price T Rowe Associates Inc. MD increased its stake in Udemy by 14.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 36,064 shares of the company's stock valued at $297,000 after buying an additional 4,418 shares during the last quarter. Finally, Vega Investment Solutions purchased a new stake in shares of Udemy during the 4th quarter worth approximately $46,000. Institutional investors own 79.48% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Cantor Fitzgerald decreased their price target on shares of 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 target on shares of Udemy from $14.00 to $12.00 and set a "buy" rating for the company in a report on Thursday, May 1st. JPMorgan Chase & Co. dropped their price objective on shares of Udemy from $11.00 to $8.00 and set a "neutral" rating for the company in a report on Thursday, April 24th. Wall Street Zen downgraded shares of Udemy from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 12th. Finally, Morgan Stanley upgraded shares of Udemy from an "underweight" rating to an "equal weight" rating and lifted their target price for the stock from $7.00 to $9.00 in a research report on Thursday, June 5th. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $9.75.

Udemy Stock Performance

Shares of NASDAQ:UDMY opened at $7.45 on Friday. The firm has a fifty day moving average price of $7.08 and a 200 day moving average price of $7.56. Udemy, Inc. has a fifty-two week low of $5.68 and a fifty-two week high of $10.61. The firm has a market cap of $1.11 billion, a price-to-earnings ratio of -16.20 and a beta of 1.77.

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

Insider Activity

In other news, CEO Hugo Sarrazin purchased 22,695 shares of the stock in a transaction dated Wednesday, May 21st. The shares were acquired at an average cost of $6.91 per share, for a total transaction of $156,822.45. Following the acquisition, the chief executive officer owned 47,580 shares of the company's stock, valued at approximately $328,777.80. This represents a 91.20% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Sarah Blanchard sold 25,000 shares of the firm's stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $6.99, for a total transaction of $174,750.00. Following the completion of the sale, the chief financial officer owned 1,077,097 shares in the company, valued at $7,528,908.03. This represents a 2.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders purchased a total of 47,580 shares of company stock worth $330,894 in the last ninety days. 2.10% of the stock is currently owned by 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.

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