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

Invenomic Capital Management LP lessened its holdings in Udemy, Inc. (NASDAQ:UDMY - Free Report) by 10.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,172,334 shares of the company's stock after selling 251,188 shares during the quarter. Invenomic Capital Management LP owned 1.49% of Udemy worth $17,878,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. MetLife Investment Management LLC raised its position in shares of Udemy by 6.2% in the 4th 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 last quarter. SBI Securities Co. Ltd. acquired a new position in Udemy during the 4th quarter valued at approximately $31,000. Quarry LP acquired a new stake in shares of Udemy during the fourth quarter worth $34,000. Price T Rowe Associates Inc. MD grew its holdings 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 valued at $297,000 after buying an additional 4,418 shares during the last quarter. Finally, Handelsbanken Fonder AB increased its position in shares of Udemy by 45.2% in the 4th quarter. Handelsbanken Fonder AB now owns 15,100 shares of the company's stock valued at $124,000 after acquiring an additional 4,700 shares during the period. Hedge funds and other institutional investors own 79.48% of the company's stock.

Insider Transactions at Udemy

In other news, CTO Eren Bali sold 10,000 shares of the company's stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $8.02, for a total transaction of $80,200.00. Following the completion of the transaction, the chief technology officer now directly owns 2,146,050 shares of the company's stock, valued at $17,211,321. This represents a 0.46% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Heather Hiles sold 14,840 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $9.81, for a total value of $145,580.40. Following the transaction, the director now owns 42,667 shares in the company, valued at $418,563.27. This trade represents a 25.81% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 35,686 shares of company stock valued at $326,848 in the last ninety days. 2.10% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

UDMY has been the subject of a number of research reports. William Blair cut Udemy from an "outperform" rating to a "market perform" rating in a research report on Wednesday, March 12th. Robert W. Baird reduced their price objective on Udemy from $13.00 to $11.00 and set an "outperform" rating for the company in a research note on Thursday, May 1st. 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 report on Thursday, May 1st. Needham & Company LLC reiterated a "buy" rating and issued a $11.00 price target on shares of Udemy in a report on Thursday, May 1st. Finally, Morgan Stanley decreased their price objective on shares of Udemy from $9.00 to $7.00 and set an "underweight" rating for the company in a research note on Wednesday, April 16th. One analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $9.86.

Udemy Trading Down 0.7%

Udemy stock traded down $0.05 during mid-day trading on Friday, hitting $7.07. The company had a trading volume of 736,826 shares, compared to its average volume of 978,638. The company has a market capitalization of $1.05 billion, a price-to-earnings ratio of -12.40 and a beta of 1.82. Udemy, Inc. has a 12-month low of $5.68 and a 12-month high of $10.61. The company's fifty day moving average is $7.15 and its 200-day moving average is $7.95.

Udemy (NASDAQ:UDMY - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.12 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.10 by $0.02. Udemy had a negative net margin of 10.84% and a negative return on equity of 27.93%. The firm had revenue of $200.30 million for the quarter, compared to the consensus estimate of $197.19 million. During the same period in the prior year, the firm posted $0.03 earnings per share. The firm's quarterly revenue was up 1.8% compared to the same quarter last year. As a group, sell-side analysts expect that Udemy, Inc. will post -0.09 EPS for the current fiscal year.

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.