Harbor Capital Advisors Inc. Sells 4,731 Shares of Udemy, Inc. (NASDAQ:UDMY)

Harbor Capital Advisors Inc. reduced its position in shares of Udemy, Inc. (NASDAQ:UDMY) by 23.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,702 shares of the company’s stock after selling 4,731 shares during the period. Harbor Capital Advisors Inc.’s holdings in Udemy were worth $129,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Rhumbline Advisers raised its position in Udemy by 9.7% during the 2nd quarter. Rhumbline Advisers now owns 131,847 shares of the company’s stock valued at $1,138,000 after purchasing an additional 11,699 shares during the last quarter. Arizona State Retirement System raised its holdings in shares of Udemy by 24.4% during the second quarter. Arizona State Retirement System now owns 23,597 shares of the company’s stock valued at $204,000 after acquiring an additional 4,635 shares in the last quarter. Quest Partners LLC raised its holdings in shares of Udemy by 6,957.5% during the second quarter. Quest Partners LLC now owns 8,963 shares of the company’s stock valued at $77,000 after acquiring an additional 8,836 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Udemy by 278.0% in the second quarter. Dimensional Fund Advisors LP now owns 86,005 shares of the company’s stock worth $741,000 after acquiring an additional 63,251 shares during the period. Finally, Renaissance Technologies LLC bought a new stake in Udemy in the second quarter valued at $133,000. 79.48% of the stock is owned by institutional investors.

Insider Activity at Udemy

In other Udemy news, CTO Eren Bali sold 35,518 shares of Udemy stock in a transaction 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 completion of the sale, the chief technology officer now owns 2,225,532 shares of the company’s stock, valued at approximately $20,029,788. This trade represents a 1.57 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Gregory Scott Brown sold 10,000 shares of the company’s stock in a transaction on Tuesday, October 29th. 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 directly owns 1,203,727 shares in the company, valued at approximately $10,231,679.50. The trade was a 0.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 55,518 shares of company stock valued at $491,762. 3.20% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

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

Udemy Stock Up 2.6 %

Udemy stock opened at $8.55 on Thursday. Udemy, Inc. has a twelve month low of $6.67 and a twelve month high of $14.74. The company has a market capitalization of $1.25 billion, a P/E ratio of -13.57 and a beta of 1.87. The stock’s 50 day moving average is $8.21 and its 200 day moving average is $8.10.

Udemy (NASDAQ:UDMY) last released its earnings results on Tuesday, October 29th. The company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.06. Udemy had a negative return on equity of 29.36% and a negative net margin of 12.33%. The firm had revenue of $195.42 million for the quarter, compared to analysts’ expectations of $192.69 million. During the same period in the prior year, the firm posted ($0.10) earnings per share. The company’s quarterly revenue was up 5.8% on a year-over-year basis. As a group, equities analysts expect that Udemy, Inc. will post -0.47 EPS for the current 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.