Y Intercept Hong Kong Ltd Takes $160,000 Position in Udemy, Inc. (NASDAQ:UDMY)

Y Intercept Hong Kong Ltd acquired a new position in Udemy, Inc. (NASDAQ:UDMY) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 19,483 shares of the company’s stock, valued at approximately $160,000.

Several other institutional investors have also modified their holdings of UDMY. Harbor Capital Advisors Inc. raised its position in Udemy by 28.9% in the third quarter. Harbor Capital Advisors Inc. now owns 20,433 shares of the company’s stock worth $152,000 after acquiring an additional 4,581 shares in the last quarter. Entropy Technologies LP acquired a new position in shares of Udemy in the 3rd quarter worth approximately $178,000. Victory Capital Management Inc. bought a new stake in shares of Udemy in the 3rd quarter worth approximately $75,000. Royce & Associates LP lifted its stake in Udemy by 1.1% during the third quarter. Royce & Associates LP now owns 944,059 shares of the company’s stock valued at $7,024,000 after purchasing an additional 10,650 shares during the last quarter. Finally, Intech Investment Management LLC bought a new stake in Udemy during the third quarter worth approximately $161,000. Institutional investors and hedge funds own 79.48% of the company’s stock.

Udemy Trading Up 0.4 %

Shares of Udemy stock opened at $9.62 on Thursday. Udemy, Inc. has a 1 year low of $6.67 and a 1 year high of $11.65. The company has a market cap of $1.42 billion, a P/E ratio of -16.88 and a beta of 1.85. The stock has a 50-day moving average price of $8.46 and a 200 day moving average price of $8.19.

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

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $11.00 price target 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. Scotiabank assumed coverage on Udemy in a report on Thursday, December 5th. They set a “sector outperform” rating and a $10.00 target price for the company. Finally, Canaccord Genuity Group lifted their price target on Udemy from $12.00 to $14.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $10.95.

Insiders Place Their Bets

In other Udemy news, CTO Eren Bali sold 69,482 shares of the company’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $9.00, for a total value of $625,338.00. Following the transaction, the chief technology officer now directly owns 2,156,050 shares of the company’s stock, valued at $19,404,450. This represents a 3.12 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Heather Hiles sold 14,840 shares of Udemy stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $9.81, for a total value of $145,580.40. Following the sale, the director now owns 42,667 shares of the company’s stock, valued at approximately $418,563.27. This represents a 25.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,294,322 shares of company stock worth $25,946,018 in the last quarter. 3.20% of the stock is currently owned by corporate 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.