SBI Securities Co. Ltd. Makes New Investment in Udemy, Inc. (NASDAQ:UDMY)

SBI Securities Co. Ltd. bought a new stake in Udemy, Inc. (NASDAQ:UDMY) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,723 shares of the company’s stock, valued at approximately $31,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Summit Trail Advisors LLC grew its position in Udemy by 939.8% during the third quarter. Summit Trail Advisors LLC now owns 366,795 shares of the company’s stock valued at $2,729,000 after buying an additional 331,521 shares during the period. Verition Fund Management LLC purchased a new position in shares of Udemy during the third quarter worth approximately $1,630,000. Barclays PLC raised its stake in shares of Udemy by 360.6% during the third 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. Algert Global LLC increased its stake in shares of Udemy by 45.0% in the third quarter. Algert Global LLC now owns 346,062 shares of the company’s stock worth $2,575,000 after buying an additional 107,390 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in shares of Udemy by 26.2% in the third quarter. JPMorgan Chase & Co. now owns 198,387 shares of the company’s stock worth $1,476,000 after buying an additional 41,145 shares during the period. Hedge funds and other institutional investors own 79.48% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on UDMY. Canaccord Genuity Group lifted their price target on shares of Udemy from $12.00 to $14.00 and gave the company a “buy” rating in a report on Friday, February 14th. Needham & Company LLC reissued a “buy” rating and set a $11.00 price objective on shares of Udemy in a research report on Wednesday. Morgan Stanley upped their target price on shares of Udemy from $7.50 to $9.00 and gave the company an “underweight” rating in a research note on Thursday, February 20th. William Blair cut shares of Udemy from an “outperform” rating to a “market perform” rating in a research note on Wednesday. Finally, Scotiabank initiated coverage on shares of Udemy in a research note on Thursday, December 5th. They issued a “sector outperform” rating and a $10.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, Udemy currently has an average rating of “Moderate Buy” and a consensus target price of $10.95.

Insider Activity

In other news, major shareholder Ltd Naspers sold 3,200,000 shares of the stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $7.84, for a total transaction of $25,088,000.00. Following the transaction, the insider now directly owns 13,920,840 shares in the company, valued at $109,139,385.60. This represents a 18.69 % decrease in their position. The sale was disclosed in a legal 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 stock was sold at an average price of $9.81, for a total transaction of $145,580.40. Following the transaction, the director now owns 42,667 shares in the company, valued at approximately $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. Insiders sold 3,294,322 shares of company stock valued at $25,953,218 in the last three months. 3.20% of the stock is currently owned by company insiders.

Udemy Stock Down 12.3 %

Shares of NASDAQ:UDMY opened at $8.03 on Thursday. The stock has a market cap of $1.19 billion, a P/E ratio of -14.09 and a beta of 1.76. Udemy, Inc. has a 52-week low of $6.67 and a 52-week high of $11.65. The business has a fifty day moving average of $8.58 and a two-hundred day moving average of $8.23.

Udemy (NASDAQ:UDMY) last released its quarterly earnings data on Thursday, February 13th. The company reported ($0.03) EPS 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 analysts’ expectations 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 anticipate that Udemy, Inc. will post -0.09 earnings per share for the current year.

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.