Quest Partners LLC Purchases 8,836 Shares of Udemy, Inc. (NASDAQ:UDMY)

Quest Partners LLC lifted its position in shares of Udemy, Inc. (NASDAQ:UDMY) by 6,957.5% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,963 shares of the company’s stock after purchasing an additional 8,836 shares during the quarter. Quest Partners LLC’s holdings in Udemy were worth $77,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. ProShare Advisors LLC boosted its holdings in shares of Udemy by 10.7% during the 1st quarter. ProShare Advisors LLC now owns 16,109 shares of the company’s stock valued at $177,000 after buying an additional 1,553 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Udemy by 18.8% during the first quarter. Principal Financial Group Inc. now owns 12,053 shares of the company’s stock worth $132,000 after acquiring an additional 1,904 shares in the last quarter. Swiss National Bank grew its holdings in Udemy by 2.2% in the first quarter. Swiss National Bank now owns 136,200 shares of the company’s stock worth $1,495,000 after purchasing an additional 2,900 shares during the period. Natixis increased its stake in shares of Udemy by 60.8% during the first quarter. Natixis now owns 8,967 shares of the company’s stock valued at $99,000 after purchasing an additional 3,391 shares in the last quarter. Finally, Arizona State Retirement System lifted 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 purchasing an additional 4,635 shares during the last quarter. 79.48% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

UDMY has been the subject of a number of analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $15.00 price objective on shares of Udemy in a research report on Thursday, August 1st. Truist Financial reduced their price target on Udemy from $15.00 to $10.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Bank of America cut shares of Udemy from a “buy” rating to a “neutral” rating and set a $8.50 price target on the stock. in a research note on Thursday, August 1st. KeyCorp reduced their price objective on shares of Udemy from $14.00 to $13.00 and set an “overweight” rating for the company in a research note on Monday, July 22nd. Finally, Cantor Fitzgerald upgraded shares of Udemy to a “strong-buy” rating in a research note on Tuesday, August 13th. Five equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Udemy presently has an average rating of “Moderate Buy” and an average target price of $12.38.

Insider Buying and Selling

In other Udemy news, Director Eren Bali sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $9.10, for a total transaction of $136,500.00. Following the completion of the sale, the director now directly owns 1,639,477 shares of the company’s stock, valued at $14,919,240.70. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CFO Sarah Blanchard sold 45,000 shares of Udemy stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $8.05, for a total transaction of $362,250.00. Following the transaction, the chief financial officer now directly owns 1,001,761 shares of the company’s stock, valued at approximately $8,064,176.05. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Eren Bali sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $9.10, for a total transaction of $136,500.00. Following the sale, the director now owns 1,639,477 shares in the company, valued at approximately $14,919,240.70. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 72,000 shares of company stock valued at $599,430. 3.20% of the stock is owned by insiders.

Udemy Trading Down 0.4 %

NASDAQ:UDMY opened at $8.04 on Wednesday. The company has a 50 day simple moving average of $8.04 and a two-hundred day simple moving average of $9.14. The company has a market cap of $1.23 billion, a PE ratio of -15.17 and a beta of 1.99. Udemy, Inc. has a 12 month low of $6.67 and a 12 month high of $16.01.

Udemy (NASDAQ:UDMY) last posted its quarterly earnings data on Wednesday, July 31st. The company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.07). Udemy had a negative net margin of 11.39% and a negative return on equity of 26.62%. The firm had revenue of $194.36 million for the quarter, compared to analysts’ expectations of $194.17 million. Research analysts forecast that Udemy, Inc. will post -0.52 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.