Udemy, Inc. (NASDAQ:UDMY) Shares Acquired by AlphaQuest LLC

AlphaQuest LLC boosted its holdings in Udemy, Inc. (NASDAQ:UDMY) by 82,500.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 34,692 shares of the company’s stock after purchasing an additional 34,650 shares during the quarter. AlphaQuest LLC’s holdings in Udemy were worth $286,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in UDMY. Raymond James Financial Inc. purchased a new stake in Udemy in the 4th quarter valued at about $164,000. Cornerstone Investment Partners LLC acquired a new stake in shares of Udemy in the fourth quarter worth approximately $219,000. SBI Securities Co. Ltd. purchased a new stake in Udemy in the fourth quarter valued at approximately $31,000. Bank of New York Mellon Corp increased its position in Udemy by 7.6% during the fourth quarter. Bank of New York Mellon Corp now owns 282,587 shares of the company’s stock worth $2,326,000 after purchasing an additional 19,934 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new position in Udemy during the fourth quarter worth approximately $160,000. 79.48% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Udemy

In related news, major shareholder Ltd Naspers sold 3,200,000 shares of the company’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $7.84, for a total value of $25,088,000.00. Following the sale, the insider now directly owns 13,920,840 shares of the company’s stock, valued at $109,139,385.60. This represents a 18.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Heather Hiles sold 14,840 shares of the firm’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $9.81, for a total transaction of $145,580.40. Following the transaction, the director now directly owns 42,667 shares of the company’s stock, valued at approximately $418,563.27. This represents a 25.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,294,322 shares of company stock valued at $25,953,218. Insiders own 3.20% of the company’s stock.

Analysts Set New Price Targets

UDMY has been the subject of several research reports. Scotiabank assumed coverage on shares of Udemy in a research note on Thursday, December 5th. They set a “sector outperform” rating and a $10.00 price objective for the company. William Blair lowered Udemy from an “outperform” rating to a “market perform” rating in a research note on Wednesday. Canaccord Genuity Group lifted their price objective on Udemy from $12.00 to $14.00 and gave the company a “buy” rating in a research note on Friday, February 14th. Needham & Company LLC reiterated a “buy” rating and set a $11.00 target price on shares of Udemy in a report on Wednesday. Finally, Morgan Stanley raised their price target on shares of Udemy from $7.50 to $9.00 and gave the company an “underweight” rating in a report on Thursday, February 20th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Udemy presently has an average rating of “Moderate Buy” and a consensus target price of $10.95.

Udemy Trading Up 3.7 %

NASDAQ UDMY opened at $8.20 on Friday. The stock has a market cap of $1.21 billion, a P/E ratio of -14.39 and a beta of 1.76. The company’s fifty day simple moving average is $8.57 and its 200-day simple moving average is $8.23. Udemy, Inc. has a 52 week low of $6.67 and a 52 week high of $11.60.

Udemy (NASDAQ:UDMY) last issued its quarterly earnings data on Thursday, February 13th. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.10). The firm had revenue of $199.94 million during the quarter, compared to analyst estimates of $194.70 million. Udemy had a negative return on equity of 27.93% and a negative net margin of 10.84%. On average, research analysts expect that Udemy, Inc. will post -0.09 EPS for the current fiscal year.

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.