Stifel Financial Corp acquired a new stake in Udemy, Inc. (NASDAQ:UDMY - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 35,725 shares of the company's stock, valued at approximately $294,000.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in UDMY. Federated Hermes Inc. grew its stake in Udemy by 1,985.5% in 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 during the period. Arrowstreet Capital Limited Partnership acquired a new position in Udemy in the fourth quarter valued at about $4,119,000. ExodusPoint Capital Management LP acquired a new position in Udemy in the fourth quarter valued at about $1,610,000. Royce & Associates LP boosted its position in shares of Udemy by 18.6% during the fourth 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 during the period. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Udemy during the fourth quarter worth about $831,000. Institutional investors own 79.48% of the company's stock.
Analysts Set New Price Targets
Several equities research analysts have commented on the company. Cantor Fitzgerald cut their target price on Udemy from $11.00 to $9.00 and set an "overweight" rating on the stock in a research note on Thursday, May 1st. William Blair downgraded Udemy from an "outperform" rating to a "market perform" rating in a research report on Wednesday, March 12th. Truist Financial reissued a "hold" rating and set a $7.00 price target (down from $10.00) on shares of Udemy in a research report on Monday, April 7th. Robert W. Baird reduced their price target on Udemy from $13.00 to $11.00 and set an "outperform" rating for the company in a research report on Thursday, May 1st. Finally, Needham & Company LLC reissued a "buy" rating and set a $11.00 price target on shares of Udemy in a research report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $9.86.
Check Out Our Latest Research Report on UDMY
Udemy Stock Down 0.1%
Shares of UDMY traded down $0.00 during midday trading on Tuesday, hitting $6.98. The company's stock had a trading volume of 49,608 shares, compared to its average volume of 977,306. Udemy, Inc. has a one year low of $5.68 and a one year high of $10.61. The company's fifty day simple moving average is $7.08 and its two-hundred day simple moving average is $7.93. The stock has a market capitalization of $1.04 billion, a price-to-earnings ratio of -12.26 and a beta of 1.82.
Udemy (NASDAQ:UDMY - Get Free Report) last issued 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. Udemy had a negative return on equity of 27.93% and a negative net margin of 10.84%. The company had revenue of $200.30 million for the quarter, compared to analyst estimates of $197.19 million. During the same quarter last year, the company posted $0.03 EPS. The company's revenue for the quarter was up 1.8% compared to the same quarter last year. On average, research analysts predict that Udemy, Inc. will post -0.09 earnings per share for the current year.
Insider Activity at Udemy
In related news, CEO Hugo Sarrazin acquired 5,432 shares of the firm's stock in a transaction on Thursday, May 15th. The stock was purchased at an average cost of $6.99 per share, with a total value of $37,969.68. Following the acquisition, the chief executive officer now owns 8,832 shares of the company's stock, valued at approximately $61,735.68. This trade represents a 159.76% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Heather Hiles sold 14,840 shares of the business's stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $9.81, for a total value of $145,580.40. Following the sale, the director now directly owns 42,667 shares of the company's stock, valued at $418,563.27. This represents a 25.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have bought 10,600 shares of company stock valued at $74,076 and have sold 35,686 shares valued at $326,848. 2.10% of the stock is currently owned by company insiders.
Udemy Company Profile
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Free Report)
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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