Udemy, Inc. (NASDAQ:UDMY) Shares Purchased by Arizona State Retirement System

Arizona State Retirement System increased its holdings in shares of Udemy, Inc. (NASDAQ:UDMY) by 24.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 23,597 shares of the company’s stock after acquiring an additional 4,635 shares during the quarter. Arizona State Retirement System’s holdings in Udemy were worth $204,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in shares of Udemy by 1.2% in the first quarter. Vanguard Group Inc. now owns 9,472,216 shares of the company’s stock valued at $104,005,000 after acquiring an additional 116,346 shares in the last quarter. Partners Group Holding AG purchased a new stake in Udemy in the 4th quarter worth approximately $1,928,000. Invenomic Capital Management LP lifted its position in Udemy by 5.5% in the 4th quarter. Invenomic Capital Management LP now owns 2,234,835 shares of the company’s stock worth $32,919,000 after buying an additional 116,432 shares in the last quarter. Greenvale Capital LLP lifted its stake in shares of Udemy by 2.3% in the 4th quarter. Greenvale Capital LLP now owns 6,600,000 shares of the company’s stock valued at $97,218,000 after purchasing an additional 150,000 shares during the last quarter. Finally, ProShare Advisors LLC lifted its stake in shares of Udemy by 10.7% in the 1st quarter. ProShare Advisors LLC now owns 16,109 shares of the company’s stock valued at $177,000 after purchasing an additional 1,553 shares during the last quarter. Institutional investors and hedge funds own 79.48% of the company’s stock.

Udemy Stock Performance

UDMY opened at $7.94 on Thursday. The firm has a market cap of $1.19 billion, a P/E ratio of -14.98 and a beta of 1.99. The firm has a 50-day moving average of $8.04 and a 200 day moving average of $9.13. Udemy, Inc. has a fifty-two week low of $6.67 and a fifty-two week high of $16.01.

Udemy (NASDAQ:UDMY) last announced its quarterly earnings results on Wednesday, July 31st. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.07). The firm had revenue of $194.36 million during the quarter, compared to analysts’ expectations of $194.17 million. Udemy had a negative return on equity of 26.62% and a negative net margin of 11.39%. Equities research analysts predict that Udemy, Inc. will post -0.52 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Canaccord Genuity Group assumed coverage on shares of Udemy in a report on Thursday, August 8th. They set a “buy” rating and a $12.00 price objective on the stock. Robert W. Baird lowered their target price on shares of Udemy from $13.00 to $11.00 and set an “outperform” rating on the stock in a research note on Thursday, August 1st. Needham & Company LLC reissued a “buy” rating and issued a $15.00 target price on shares of Udemy in a research note on Thursday, August 1st. Truist Financial lowered their target price on shares of Udemy from $15.00 to $10.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. Finally, Bank of America cut shares of Udemy from a “buy” rating to a “neutral” rating and set a $8.50 target price on the stock. in a research note on Thursday, August 1st. Five analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Udemy presently has an average rating of “Moderate Buy” and an average price target of $12.38.

Insider Buying and Selling at Udemy

In other news, CEO Gregory Scott Brown sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $8.50, for a total value of $85,000.00. Following the transaction, the chief executive officer now owns 1,273,406 shares in the company, valued at $10,823,951. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Udemy news, Director Eren Bali sold 15,000 shares of the firm’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $9.10, for a total transaction of $136,500.00. Following the completion of the transaction, the director now owns 1,639,477 shares of the company’s stock, valued at $14,919,240.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Gregory Scott Brown sold 10,000 shares of Udemy stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $8.50, for a total value of $85,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,273,406 shares of the company’s stock, valued at approximately $10,823,951. The disclosure for this sale can be found here. Insiders have sold 72,000 shares of company stock worth $599,430 over the last ninety days. Insiders own 3.20% of the company’s stock.

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.