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

Sea Cliff Partners Management LP decreased its position in shares of Udemy, Inc. (NASDAQ:UDMY - Free Report) by 13.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,349,839 shares of the company's stock after selling 541,713 shares during the period. Udemy makes up approximately 9.6% of Sea Cliff Partners Management LP's investment portfolio, making the stock its 2nd biggest position. Sea Cliff Partners Management LP owned 2.30% of Udemy worth $27,569,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. SBI Securities Co. Ltd. bought a new position in shares of Udemy in the 4th quarter valued at about $31,000. Quarry LP bought a new stake in Udemy in the fourth quarter worth about $34,000. Nisa Investment Advisors LLC lifted its stake in Udemy by 496.7% in the fourth quarter. Nisa Investment Advisors LLC now owns 7,220 shares of the company's stock worth $59,000 after purchasing an additional 6,010 shares during the last quarter. Falcon Wealth Planning bought a new stake in Udemy in the fourth quarter worth about $85,000. Finally, Nebula Research & Development LLC bought a new stake in Udemy in the fourth quarter worth about $85,000. Institutional investors own 79.48% of the company's stock.

Insider Activity

In other Udemy news, CTO Eren Bali sold 10,000 shares of Udemy stock in a transaction on Friday, March 14th. The shares were sold at an average price of $8.02, for a total value of $80,200.00. Following the transaction, the chief technology officer now directly owns 2,146,050 shares in the company, valued at approximately $17,211,321. The trade was a 0.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Hugo Sarrazin bought 5,432 shares of the stock in a transaction dated Thursday, May 15th. The stock was purchased at an average cost of $6.99 per share, for a total transaction 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 represents a 159.76% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have bought 10,600 shares of company stock worth $74,076 and have sold 20,846 shares worth $181,268. Company insiders own 2.10% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Cantor Fitzgerald reduced their target price on shares of Udemy from $11.00 to $9.00 and set an "overweight" rating on the stock in a research report on Thursday, May 1st. William Blair lowered shares of Udemy from an "outperform" rating to a "market perform" rating in a research report on Wednesday, March 12th. Robert W. Baird reduced their target price on shares of Udemy from $13.00 to $11.00 and set an "outperform" rating on the stock in a research report on Thursday, May 1st. Canaccord Genuity Group reduced their target price on shares of Udemy from $14.00 to $12.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Finally, Wall Street Zen lowered shares of Udemy from a "strong-buy" rating to a "buy" rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $9.86.

Udemy Trading Up 1.7%

UDMY stock traded up $0.11 during mid-day trading on Thursday, reaching $6.88. The company's stock had a trading volume of 226,988 shares, compared to its average volume of 976,660. The stock has a market cap of $1.02 billion, a PE ratio of -12.09 and a beta of 1.82. Udemy, Inc. has a fifty-two week low of $5.68 and a fifty-two week high of $10.61. The company's 50 day moving average is $7.04 and its two-hundred day moving average is $7.92.

Udemy (NASDAQ:UDMY - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.12 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.10 by $0.02. The business had revenue of $200.30 million during the quarter, compared to the consensus estimate of $197.19 million. Udemy had a negative net margin of 10.84% and a negative return on equity of 27.93%. The business's revenue was up 1.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.03 EPS. On average, analysts forecast that Udemy, Inc. will post -0.09 earnings per share for the current fiscal year.

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.