Swiss National Bank Sells 3,100 Shares of Udemy, Inc. (NASDAQ:UDMY)

Swiss National Bank reduced its holdings in shares of Udemy, Inc. (NASDAQ:UDMY) by 1.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 162,700 shares of the company’s stock after selling 3,100 shares during the period. Swiss National Bank owned about 0.11% of Udemy worth $1,339,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Udemy in the fourth quarter valued at $831,000. AlphaQuest LLC lifted its stake in shares of Udemy by 82,500.0% in the fourth quarter. AlphaQuest LLC now owns 34,692 shares of the company’s stock worth $286,000 after buying an additional 34,650 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Udemy during the 4th quarter valued at $164,000. Cornerstone Investment Partners LLC purchased a new stake in shares of Udemy during the fourth quarter valued at $219,000. Finally, SBI Securities Co. Ltd. purchased a new stake in shares of Udemy during the 4th quarter valued at about $31,000. Hedge funds and other institutional investors own 79.48% of the company’s stock.

Insiders Place Their Bets

In related news, CTO Eren Bali sold 10,000 shares of Udemy stock in a transaction on Friday, March 14th. The shares were sold at an average price of $8.02, for a total transaction of $80,200.00. Following the transaction, the chief technology officer now owns 2,146,050 shares in the company, valued at approximately $17,211,321. The trade was a 0.46 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Heather Hiles sold 14,840 shares of the firm’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $9.81, for a total transaction of $145,580.40. Following the sale, the director now directly owns 42,667 shares of the company’s stock, 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. Over the last 90 days, insiders sold 3,304,322 shares of company stock valued at $26,033,418. Corporate insiders own 3.20% of the company’s stock.

Analyst Ratings Changes

UDMY has been the subject of a number of recent research reports. Canaccord Genuity Group boosted their price objective on shares of Udemy from $12.00 to $14.00 and gave the company a “buy” rating in a research report on Friday, February 14th. William Blair lowered shares of Udemy from an “outperform” rating to a “market perform” rating in a research report on Wednesday, March 12th. 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. Needham & Company LLC restated a “buy” rating and set a $11.00 target price on shares of Udemy in a research report on Wednesday, March 12th. 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 target price on the stock. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $10.95.

Udemy Trading Down 3.0 %

Udemy stock opened at $8.02 on Friday. The stock has a market cap of $1.18 billion, a P/E ratio of -14.07 and a beta of 1.76. Udemy, Inc. has a 12-month low of $6.67 and a 12-month high of $11.60. The company has a fifty day simple moving average of $8.56 and a 200-day simple moving average of $8.26.

Udemy (NASDAQ:UDMY) last issued its quarterly 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). The firm had revenue of $199.94 million for the quarter, compared to analyst estimates of $194.70 million. Udemy had a negative return on equity of 27.93% and a negative net margin of 10.84%. As a group, sell-side analysts forecast that Udemy, Inc. will post -0.09 earnings per share for the current fiscal 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.