Allspring Global Investments Holdings LLC Takes Position in Udemy, Inc. (NASDAQ:UDMY)

Allspring Global Investments Holdings LLC bought a new position in Udemy, Inc. (NASDAQ:UDMY - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 207,520 shares of the company's stock, valued at approximately $3,057,000. Allspring Global Investments Holdings LLC owned about 0.14% of Udemy at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. SG Americas Securities LLC lifted its holdings in shares of Udemy by 317.5% in the fourth quarter. SG Americas Securities LLC now owns 41,883 shares of the company's stock worth $617,000 after acquiring an additional 31,850 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Udemy by 19.3% in the third quarter. Vanguard Group Inc. now owns 8,860,490 shares of the company's stock valued at $84,175,000 after buying an additional 1,433,980 shares during the period. Tudor Investment Corp Et Al increased its stake in shares of Udemy by 384.4% in the third quarter. Tudor Investment Corp Et Al now owns 149,890 shares of the company's stock valued at $1,424,000 after buying an additional 118,947 shares during the period. The Manufacturers Life Insurance Company increased its stake in shares of Udemy by 26.6% in the third quarter. The Manufacturers Life Insurance Company now owns 45,971 shares of the company's stock valued at $437,000 after buying an additional 9,654 shares during the period. Finally, AXQ Capital LP acquired a new position in shares of Udemy in the third quarter valued at approximately $160,000. Institutional investors own 79.48% of the company's stock.

Udemy Stock Performance

Shares of Udemy stock traded down $0.09 on Friday, reaching $9.92. 746,791 shares of the company's stock were exchanged, compared to its average volume of 588,097. The company has a market capitalization of $1.52 billion, a P/E ratio of -13.78 and a beta of 2.14. Udemy, Inc. has a 52 week low of $8.17 and a 52 week high of $16.01. The firm's 50-day moving average is $10.99 and its two-hundred day moving average is $12.29.

Udemy (NASDAQ:UDMY - Get Free Report) last posted its quarterly earnings results on Wednesday, February 14th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.16) by $0.04. The firm had revenue of $189.55 million for the quarter, compared to analysts' expectations of $185.71 million. Udemy had a negative return on equity of 27.31% and a negative net margin of 14.72%. On average, analysts expect that Udemy, Inc. will post -0.47 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CTO Venu Venugopal sold 6,981 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $10.82, for a total value of $75,534.42. Following the transaction, the chief technology officer now directly owns 334,319 shares in the company, valued at approximately $3,617,331.58. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CEO Gregory Scott Brown sold 10,000 shares of the stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $11.04, for a total value of $110,400.00. Following the transaction, the chief executive officer now directly owns 1,163,328 shares in the company, valued at approximately $12,843,141.12. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CTO Venu Venugopal sold 6,981 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $10.82, for a total value of $75,534.42. Following the completion of the transaction, the chief technology officer now owns 334,319 shares in the company, valued at $3,617,331.58. The disclosure for this sale can be found here. Insiders have sold a total of 50,981 shares of company stock worth $570,044 in the last ninety days. Corporate insiders own 6.20% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on UDMY. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $20.00 price objective on shares of Udemy in a research note on Thursday, February 15th. Piper Sandler reaffirmed a "neutral" rating and issued a $13.00 price objective on shares of Udemy in a research note on Thursday, February 15th. Morgan Stanley lowered their price objective on Udemy from $15.00 to $13.00 and set an "equal weight" rating for the company in a research note on Friday. KeyCorp increased their target price on shares of Udemy from $13.00 to $15.00 and gave the company an "overweight" rating in a research report on Friday, January 12th. Finally, Needham & Company LLC reissued a "buy" rating and set a $15.00 target price on shares of Udemy in a research report on Thursday, April 4th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Udemy has an average rating of "Moderate Buy" and a consensus target price of $14.78.

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.