J. Goldman & Co LP Lowers Holdings in Udemy, Inc. (NASDAQ:UDMY)

J. Goldman & Co LP cut its stake in shares of Udemy, Inc. (NASDAQ:UDMY - Free Report) by 73.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 136,456 shares of the company's stock after selling 382,370 shares during the quarter. J. Goldman & Co LP owned about 0.09% of Udemy worth $1,123,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Federated Hermes Inc. increased its holdings in shares of Udemy by 1,985.5% during the fourth quarter. Federated Hermes Inc. now owns 1,372,593 shares of the company's stock valued at $11,296,000 after acquiring an additional 1,306,778 shares in the last quarter. Royce & Associates LP increased its holdings in Udemy by 18.6% in the 4th quarter. Royce & Associates LP now owns 1,119,359 shares of the company's stock worth $9,212,000 after buying an additional 175,300 shares in the last quarter. Northern Trust Corp increased its holdings in Udemy by 6.1% in the 4th quarter. Northern Trust Corp now owns 836,920 shares of the company's stock worth $6,888,000 after buying an additional 48,298 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its holdings in Udemy by 97.3% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 628,510 shares of the company's stock worth $5,173,000 after buying an additional 310,003 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new stake in Udemy in the 4th quarter worth about $4,119,000. 79.48% of the stock is currently owned by institutional investors.

Udemy Stock Down 0.7%

Shares of Udemy stock traded down $0.05 during trading hours on Friday, reaching $7.07. 736,826 shares of the stock traded hands, compared to its average volume of 981,768. Udemy, Inc. has a one year low of $5.68 and a one year high of $10.61. The firm has a market capitalization of $1.05 billion, a price-to-earnings ratio of -12.40 and a beta of 1.82. The company has a 50 day moving average price of $7.10 and a 200 day moving average price of $7.94.

Udemy (NASDAQ:UDMY - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $0.12 earnings per share for the quarter, beating analysts' consensus estimates of $0.10 by $0.02. Udemy had a negative return on equity of 27.93% and a negative net margin of 10.84%. The firm had revenue of $200.30 million for the quarter, compared to analysts' expectations of $197.19 million. During the same period in the previous year, the firm earned $0.03 EPS. The business's quarterly revenue was up 1.8% on a year-over-year basis. Sell-side analysts anticipate that Udemy, Inc. will post -0.09 earnings per share for the current year.

Insider Activity

In other news, Director Heather Hiles sold 14,840 shares of Udemy stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $9.81, for a total transaction of $145,580.40. Following the transaction, the director now directly owns 42,667 shares of the company's stock, valued at $418,563.27. The trade was a 25.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Eren Bali sold 10,000 shares of Udemy stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $8.02, for a total value of $80,200.00. Following the transaction, the chief technology officer now directly owns 2,146,050 shares in the company, valued at approximately $17,211,321. The trade was a 0.46% decrease in their ownership of the stock. 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. Corporate insiders own 2.10% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on UDMY shares. William Blair downgraded Udemy from an "outperform" rating to a "market perform" rating in a 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 report on Thursday, May 1st. JPMorgan Chase & Co. reduced their price objective on Udemy from $11.00 to $8.00 and set a "neutral" rating for the company in a report on Thursday, April 24th. Needham & Company LLC reiterated a "buy" rating and issued a $11.00 price objective on shares of Udemy in a report on Thursday, May 1st. Finally, Truist Financial restated a "hold" rating and set a $7.00 price target (down from $10.00) on shares of Udemy in a research note on Monday, April 7th. One research 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 MarketBeat, Udemy presently has a consensus rating of "Moderate Buy" and an average target price of $9.86.

Udemy Company 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.