UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 16,495 Shares of Udemy, Inc. (NASDAQ:UDMY)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its holdings in Udemy, Inc. (NASDAQ:UDMY) by 9.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 154,191 shares of the company’s stock after selling 16,495 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.11% of Udemy worth $1,147,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Ariadne Wealth Management LP purchased a new stake in Udemy in the second quarter worth about $67,000. Victory Capital Management Inc. bought a new stake in shares of Udemy in the 3rd quarter worth approximately $75,000. Quest Partners LLC grew its stake in shares of Udemy by 6,957.5% in the 2nd quarter. Quest Partners LLC now owns 8,963 shares of the company’s stock worth $77,000 after buying an additional 8,836 shares during the last quarter. XTX Topco Ltd bought a new position in Udemy during the 2nd quarter valued at approximately $93,000. Finally, Renaissance Technologies LLC bought a new position in Udemy during the 2nd quarter valued at approximately $133,000. 79.48% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Cantor Fitzgerald cut their target price on Udemy from $18.00 to $11.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. Morgan Stanley downgraded shares of Udemy from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $10.00 to $7.50 in a research report on Friday, September 27th. Needham & Company LLC reduced their price objective on shares of Udemy from $15.00 to $11.00 and set a “buy” rating for the company in a research note on Wednesday, October 30th. Finally, Scotiabank assumed coverage on shares of Udemy in a research note on Thursday, December 5th. They issued a “sector outperform” rating and a $10.00 target price on the stock. One analyst has rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $10.92.

Udemy Price Performance

Shares of UDMY opened at $7.85 on Thursday. The firm has a market capitalization of $1.15 billion, a P/E ratio of -12.46 and a beta of 1.91. Udemy, Inc. has a one year low of $6.67 and a one year high of $15.39. The business has a fifty day moving average of $8.16 and a 200 day moving average of $8.11.

Udemy (NASDAQ:UDMY) last released its quarterly earnings results on Tuesday, October 29th. The company reported $0.07 EPS for the quarter, beating the consensus estimate of $0.01 by $0.06. The firm had revenue of $195.42 million during the quarter, compared to analyst estimates of $192.69 million. Udemy had a negative net margin of 12.33% and a negative return on equity of 29.36%. The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.10) EPS. Analysts expect that Udemy, Inc. will post -0.47 EPS for the current fiscal year.

Insider Activity

In other Udemy news, CTO Eren Bali sold 35,518 shares of Udemy stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $9.00, for a total transaction of $319,662.00. Following the transaction, the chief technology officer now owns 2,225,532 shares of the company’s stock, valued at $20,029,788. The trade was a 1.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Gregory Scott Brown sold 10,000 shares of the stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $8.50, for a total transaction of $85,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,203,727 shares of the company’s stock, valued at approximately $10,231,679.50. This trade represents a 0.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 55,518 shares of company stock valued at $491,762 in the last 90 days. Company insiders own 3.20% 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.