Founders Circle Capital LLC Sells 565,025 Shares of Udemy, Inc. (NASDAQ:UDMY)

Founders Circle Capital LLC reduced its stake in Udemy, Inc. (NASDAQ:UDMY - Free Report) by 25.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,675,981 shares of the company's stock after selling 565,025 shares during the period. Udemy makes up about 25.3% of Founders Circle Capital LLC's investment portfolio, making the stock its 2nd biggest holding. Founders Circle Capital LLC owned approximately 1.09% of Udemy worth $24,687,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted 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 purchasing an additional 1,433,980 shares during the period. Inflection Point Investments LLP purchased a new position in Udemy in the 4th quarter valued at about $21,390,000. Charles Schwab Investment Management Inc. grew its stake in shares of Udemy by 3.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 689,768 shares of the company's stock valued at $10,160,000 after acquiring an additional 23,652 shares in the last quarter. Pathway Capital Management LP acquired a new stake in shares of Udemy during the fourth quarter valued at about $3,983,000. Finally, Federated Hermes Inc. purchased a new stake in shares of Udemy during the fourth quarter worth about $3,303,000. 79.48% of the stock is owned by hedge funds and other institutional investors.

Udemy Price Performance

Shares of NASDAQ:UDMY traded up $0.05 during trading on Friday, reaching $9.94. 511,607 shares of the company's stock traded hands, compared to its average volume of 903,267. The company has a 50 day moving average of $10.43 and a 200-day moving average of $12.40. Udemy, Inc. has a 12 month low of $8.60 and a 12 month high of $16.01. The stock has a market capitalization of $1.52 billion, a P/E ratio of -18.75 and a beta of 2.12.

Udemy (NASDAQ:UDMY - Get Free Report) last posted its earnings results on Wednesday, February 14th. The company reported ($0.12) EPS for the quarter, beating the consensus estimate of ($0.16) by $0.04. The company had revenue of $189.55 million during the quarter, compared to analyst estimates of $185.71 million. Udemy had a negative return on equity of 23.10% and a negative net margin of 10.82%. Equities research analysts predict that Udemy, Inc. will post -0.45 earnings per share for the current fiscal year.

Insider Activity at Udemy

In other Udemy news, Director Eren Bali sold 15,000 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $10.97, for a total value of $164,550.00. Following the sale, the director now directly owns 1,676,050 shares of the company's stock, valued at $18,386,268.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CTO Venu Venugopal sold 7,086 shares of the business's stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $9.89, for a total transaction of $70,080.54. Following the completion of the transaction, the chief technology officer now directly owns 429,927 shares in the company, valued at $4,251,978.03. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Eren Bali sold 15,000 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $10.97, for a total value of $164,550.00. Following the completion of the transaction, the director now directly owns 1,676,050 shares of the company's stock, valued at $18,386,268.50. The disclosure for this sale can be found here. Insiders sold 54,067 shares of company stock worth $584,965 in the last 90 days. 3.20% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Jefferies Financial Group lowered their price objective on Udemy from $14.00 to $11.00 and set a "hold" rating for the company in a research note on Monday, April 29th. Needham & Company LLC restated a "buy" rating and issued a $15.00 price target on shares of Udemy in a research note on Friday, May 3rd. Piper Sandler reiterated a "neutral" rating and set a $13.00 price objective on shares of Udemy in a research note on Thursday, February 15th. KeyCorp decreased their price objective on shares of Udemy from $15.00 to $14.00 and set an "overweight" rating for the company in a report on Friday, May 3rd. Finally, Robert W. Baird cut their target price on shares of Udemy from $15.00 to $13.00 and set an "outperform" rating on the stock in a research note on Friday, May 3rd. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $13.90.

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.

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