Udemy, Inc. (NASDAQ:UDMY) Shares Sold by Algert Global LLC

Algert Global LLC reduced its stake in shares of Udemy, Inc. (NASDAQ:UDMY - Free Report) by 22.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 266,934 shares of the company's stock after selling 79,128 shares during the quarter. Algert Global LLC owned approximately 0.18% of Udemy worth $2,197,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. bought a new position in Udemy in the 4th quarter worth about $31,000. Quarry LP purchased a new stake in shares of Udemy in the fourth quarter valued at approximately $34,000. Nisa Investment Advisors LLC grew 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 in the last quarter. Falcon Wealth Planning purchased a new position in Udemy during the 4th quarter worth $85,000. Finally, Nebula Research & Development LLC bought a new stake in Udemy during the 4th quarter valued at $85,000. Hedge funds and other institutional investors own 79.48% of the company's stock.

Insiders Place Their Bets

In related news, CTO Eren Bali sold 10,000 shares of the firm's stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $8.02, for a total transaction of $80,200.00. Following the sale, the chief technology officer now directly owns 2,146,050 shares of the company's stock, valued at $17,211,321. This trade represents a 0.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 shares were sold at an average price of $9.81, for a total value of $145,580.40. Following the completion of the transaction, the director now directly owns 42,667 shares of the company's stock, valued at $418,563.27. The trade was a 25.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 105,168 shares of company stock valued at $952,186. 2.10% of the stock is owned by insiders.

Udemy Price Performance

Udemy stock traded down $0.01 during mid-day trading on Friday, reaching $6.76. 563,054 shares of the company traded hands, compared to its average volume of 974,020. Udemy, Inc. has a fifty-two week low of $5.68 and a fifty-two week high of $10.61. The firm's fifty day moving average is $7.32 and its two-hundred day moving average is $7.98. The company has a market capitalization of $1.01 billion, a price-to-earnings ratio of -11.86 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 EPS for the quarter, topping analysts' consensus estimates of $0.10 by $0.02. The company had revenue of $200.30 million during the quarter, compared to analysts' expectations of $197.19 million. Udemy had a negative return on equity of 27.93% and a negative net margin of 10.84%. The firm's revenue was up 1.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.03 EPS. As a group, equities research analysts predict that Udemy, Inc. will post -0.09 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. JPMorgan Chase & Co. cut their price target on Udemy from $11.00 to $8.00 and set a "neutral" rating on the stock in a research note on Thursday, April 24th. Truist Financial restated a "hold" rating and issued a $7.00 price target (down previously from $10.00) on shares of Udemy in a report on Monday, April 7th. Robert W. Baird dropped their price objective on shares of Udemy from $13.00 to $11.00 and set an "outperform" rating on the stock in a research note on Thursday, May 1st. Canaccord Genuity Group reduced their price objective on shares of Udemy from $14.00 to $12.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Finally, Cantor Fitzgerald lowered their target price on Udemy from $11.00 to $9.00 and set an "overweight" rating for the company in a report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $9.86.

About Udemy

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.