Sea Cliff Partners Management LP Lowers Holdings in Udemy, Inc. (NASDAQ:UDMY)

Sea Cliff Partners Management LP cut its position in shares of Udemy, Inc. (NASDAQ:UDMY - Free Report) by 13.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,349,839 shares of the company's stock after selling 541,713 shares during the quarter. Udemy accounts for about 9.6% of Sea Cliff Partners Management LP's investment portfolio, making the stock its 2nd largest holding. Sea Cliff Partners Management LP owned about 2.30% of Udemy worth $27,569,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. SBI Securities Co. Ltd. bought a new stake in Udemy in the fourth quarter worth about $31,000. Quarry LP purchased a new position in Udemy during the 4th quarter valued at about $34,000. Nisa Investment Advisors LLC increased its holdings in shares of Udemy by 496.7% during the 4th quarter. Nisa Investment Advisors LLC now owns 7,220 shares of the company's stock valued at $59,000 after acquiring an additional 6,010 shares during the last quarter. Falcon Wealth Planning bought a new stake in Udemy during the fourth quarter valued at about $85,000. Finally, Nebula Research & Development LLC bought a new stake in Udemy in the 4th quarter valued at $85,000. 79.48% of the stock is currently owned by institutional investors and hedge funds.

Udemy Stock Up 0.1%

UDMY traded up $0.01 during trading on Tuesday, hitting $6.99. 546,123 shares of the company traded hands, compared to its average volume of 980,290. The stock's fifty day moving average is $7.06 and its 200 day moving average is $7.92. Udemy, Inc. has a one year low of $5.68 and a one year high of $10.61. The firm has a market cap of $1.04 billion, a P/E 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 analysts' consensus estimates of $0.10 by $0.02. The firm had revenue of $200.30 million during the quarter, compared to the consensus estimate of $197.19 million. Udemy had a negative return on equity of 27.93% and a negative net margin of 10.84%. The company's revenue for the quarter was up 1.8% on a year-over-year basis. During the same quarter last year, the company posted $0.03 EPS. On average, equities research analysts forecast that Udemy, Inc. will post -0.09 EPS for the current fiscal year.

Wall Street Analyst Weigh In

UDMY has been the subject of a number of analyst reports. Robert W. Baird cut 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. Morgan Stanley decreased their price target on shares of Udemy from $9.00 to $7.00 and set an "underweight" rating for the company in a research note on Wednesday, April 16th. William Blair downgraded Udemy from an "outperform" rating to a "market perform" rating in a report on Wednesday, March 12th. Canaccord Genuity Group decreased their price target on Udemy from $14.00 to $12.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Finally, Truist Financial reaffirmed a "hold" rating and issued a $7.00 price objective (down previously from $10.00) on shares of Udemy in a research note on Monday, April 7th. 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 data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $9.86.

Insiders Place Their Bets

In related news, Director Heather Hiles sold 14,840 shares of Udemy stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $9.81, for a total value of $145,580.40. Following the sale, the director now owns 42,667 shares in the company, valued at $418,563.27. The trade was a 25.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 price 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 $61,735.68. This represents a 159.76% increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 10,600 shares of company stock valued at $74,076 and have sold 35,686 shares valued at $326,848. Insiders own 2.10% of the company's stock.

Udemy 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.