Udemy, Inc. (NASDAQ:UDMY) Shares Acquired by Handelsbanken Fonder AB

Handelsbanken Fonder AB grew its holdings in Udemy, Inc. (NASDAQ:UDMY) by 45.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,100 shares of the company’s stock after purchasing an additional 4,700 shares during the quarter. Handelsbanken Fonder AB’s holdings in Udemy were worth $124,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Geode Capital Management LLC lifted its stake in shares of Udemy by 0.3% during the 3rd quarter. Geode Capital Management LLC now owns 2,216,868 shares of the company’s stock worth $16,497,000 after purchasing an additional 5,972 shares during the period. State Street Corp grew its stake in shares of 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 buying an additional 15,339 shares in the last quarter. FMR LLC boosted its stake in shares of Udemy by 2.8% in the third quarter. FMR LLC now owns 1,330,073 shares of the company’s stock valued at $9,896,000 after purchasing an additional 36,380 shares during the period. Royce & Associates LP lifted its stake in shares of Udemy by 1.1% in the third quarter. Royce & Associates LP now owns 944,059 shares of the company’s stock worth $7,024,000 after acquiring an additional 10,650 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Udemy by 3.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 761,920 shares of the company’s stock worth $5,669,000 after buying an additional 27,959 shares during the last quarter. 79.48% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

UDMY has been the topic of several research reports. Scotiabank began 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 on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $11.00 price objective on shares of Udemy in a report on Friday, February 14th. Morgan Stanley lifted their target price on Udemy from $7.50 to $9.00 and gave the stock an “underweight” rating in a report on Thursday, February 20th. Finally, Canaccord Genuity Group increased their price target on Udemy from $12.00 to $14.00 and gave the company a “buy” rating in a research report on Friday, February 14th. One analyst has rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $10.95.

Udemy Stock Down 1.9 %

Shares of NASDAQ:UDMY opened at $9.46 on Tuesday. The company’s 50-day moving average price is $8.40 and its two-hundred day moving average price is $8.16. Udemy, Inc. has a 12 month low of $6.67 and a 12 month high of $11.65. The firm has a market cap of $1.40 billion, a P/E ratio of -16.60 and a beta of 1.85.

Udemy (NASDAQ:UDMY) last issued its earnings results on Thursday, February 13th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.10). Udemy had a negative return on equity of 27.93% and a negative net margin of 10.84%. The company had revenue of $199.94 million for the quarter, compared to the consensus estimate of $194.70 million. As a group, equities analysts predict that Udemy, Inc. will post -0.09 earnings per share for the current fiscal year.

Insider Activity 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, December 6th. The stock was sold at an average price of $8.71, for a total value of $87,100.00. Following the completion of the sale, the chief executive officer now directly owns 1,183,086 shares of the company’s stock, valued at $10,304,679.06. This trade represents a 0.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Heather Hiles sold 14,840 shares of the stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $9.81, for a total transaction of $145,580.40. Following the completion of the transaction, the director now directly owns 42,667 shares in the company, valued at $418,563.27. The trade was a 25.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 3,294,322 shares of company stock valued at $25,946,018. 3.20% of the stock is owned by insiders.

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.