Geode Capital Management LLC Purchases 5,972 Shares of Udemy, Inc. (NASDAQ:UDMY)

Geode Capital Management LLC increased its holdings in Udemy, Inc. (NASDAQ:UDMY) by 0.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,216,868 shares of the company’s stock after buying an additional 5,972 shares during the period. Geode Capital Management LLC owned 1.52% of Udemy worth $16,497,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Barclays PLC boosted its position in shares of Udemy by 360.6% during the 3rd quarter. Barclays PLC now owns 155,719 shares of the company’s stock worth $1,158,000 after acquiring an additional 121,911 shares in the last quarter. State Street Corp grew its position in Udemy by 0.8% in the third quarter. State Street Corp now owns 1,934,473 shares of the company’s stock valued at $14,392,000 after acquiring an additional 15,339 shares during the last quarter. Point72 DIFC Ltd acquired a new position in Udemy during the third quarter worth about $30,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Udemy in the third quarter worth about $103,000. Finally, Verition Fund Management LLC acquired a new stake in shares of Udemy in the 3rd quarter valued at approximately $1,630,000. Institutional investors and hedge funds own 79.48% of the company’s stock.

Insider Buying and Selling

In related news, CEO Gregory Scott Brown sold 10,000 shares of the company’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $8.71, for a total value of $87,100.00. Following the sale, the chief executive officer now owns 1,183,086 shares in the company, valued at $10,304,679.06. This represents a 0.84 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO Eren Bali sold 35,518 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $9.00, for a total value of $319,662.00. Following the sale, the chief technology officer now directly owns 2,225,532 shares of the company’s stock, valued at $20,029,788. This represents a 1.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 55,518 shares of company stock valued at $491,762. 3.20% of the stock is owned by company insiders.

Udemy Price Performance

Shares of NASDAQ:UDMY opened at $8.06 on Monday. Udemy, Inc. has a 1 year low of $6.67 and a 1 year high of $15.10. The business’s 50-day moving average is $8.16 and its 200-day moving average is $8.08. The company has a market capitalization of $1.18 billion, a price-to-earnings ratio of -12.79 and a beta of 1.91.

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

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on UDMY shares. Needham & Company LLC lowered their price target on shares of Udemy from $15.00 to $11.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. Morgan Stanley lowered shares of Udemy from an “equal weight” rating to an “underweight” rating and dropped their price objective for the company from $10.00 to $7.50 in a report on Friday, September 27th. Cantor Fitzgerald cut their target price on shares of Udemy from $18.00 to $11.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th. Finally, Scotiabank began coverage on Udemy in a research report on Thursday, December 5th. They set a “sector outperform” rating and a $10.00 target price for the company. One analyst has rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $10.92.

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.