Udemy, Inc. (NASDAQ:UDMY) Stock Position Reduced by JPMorgan Chase & Co.

JPMorgan Chase & Co. cut its stake in shares of Udemy, Inc. (NASDAQ:UDMY - Free Report) by 37.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 123,756 shares of the company's stock after selling 74,631 shares during the period. JPMorgan Chase & Co. owned 0.08% of Udemy worth $1,019,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in UDMY. SBI Securities Co. Ltd. purchased a new stake in Udemy during the fourth quarter worth approximately $31,000. Handelsbanken Fonder AB lifted its holdings in shares of Udemy by 45.2% during 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 in the last quarter. SG Americas Securities LLC boosted its position in Udemy by 22.2% during the 4th quarter. SG Americas Securities LLC now owns 29,674 shares of the company's stock worth $244,000 after purchasing an additional 5,384 shares during the period. Geode Capital Management LLC increased its holdings in Udemy by 0.3% in the 3rd quarter. Geode Capital Management LLC now owns 2,216,868 shares of the company's stock valued at $16,497,000 after purchasing an additional 5,972 shares in the last quarter. Finally, Nisa Investment Advisors LLC raised its position in Udemy by 496.7% in the fourth quarter. Nisa Investment Advisors LLC now owns 7,220 shares of the company's stock valued at $59,000 after purchasing an additional 6,010 shares during the period. 79.48% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have weighed in on UDMY shares. Needham & Company LLC restated a "buy" rating and issued a $11.00 price target on shares of Udemy in a report on Thursday. Morgan Stanley lowered their price target on shares of Udemy from $9.00 to $7.00 and set an "underweight" rating for the company in a report on Wednesday, April 16th. JPMorgan Chase & Co. cut their price objective on shares of Udemy from $11.00 to $8.00 and set a "neutral" rating on the stock in a report on Thursday, April 24th. Canaccord Genuity Group lowered their target price on Udemy from $14.00 to $12.00 and set a "buy" rating for the company in a research note on Thursday. Finally, Cantor Fitzgerald dropped their target price on Udemy from $11.00 to $9.00 and set an "overweight" rating on the stock in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $9.86.

Insider Activity

In related news, CTO Eren Bali sold 10,000 shares of the 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 sale, the chief technology officer now owns 2,146,050 shares of the company's stock, valued at $17,211,321. This trade represents a 0.46 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Heather Hiles sold 14,840 shares of the business's stock in a transaction dated Wednesday, February 19th. The shares were 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 ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 105,168 shares of company stock valued at $952,186. Company insiders own 3.20% of the company's stock.

Udemy Trading Up 1.5 %

NASDAQ UDMY traded up $0.10 on Friday, hitting $6.52. 117,289 shares of the stock traded hands, compared to its average volume of 980,913. The stock has a 50-day moving average of $7.69 and a 200 day moving average of $8.04. Udemy, Inc. has a twelve month low of $5.68 and a twelve month high of $11.60. The company has a market capitalization of $969.28 million, a P/E ratio of -11.43 and a beta of 1.81.

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