AQR Capital Management LLC Sells 56,055 Shares of Udemy, Inc. (NASDAQ:UDMY)

AQR Capital Management LLC lowered its holdings in Udemy, Inc. (NASDAQ:UDMY) by 56.1% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 43,945 shares of the company’s stock after selling 56,055 shares during the quarter. AQR Capital Management LLC’s holdings in Udemy were worth $379,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of UDMY. Vanguard Group Inc. increased its holdings in Udemy by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 9,472,216 shares of the company’s stock worth $104,005,000 after acquiring an additional 116,346 shares in the last quarter. ProShare Advisors LLC raised its position in Udemy by 10.7% in the 1st quarter. ProShare Advisors LLC now owns 16,109 shares of the company’s stock worth $177,000 after purchasing an additional 1,553 shares during the period. Principal Financial Group Inc. increased its stake in Udemy by 18.8% in the first quarter. Principal Financial Group Inc. now owns 12,053 shares of the company’s stock worth $132,000 after purchasing an additional 1,904 shares during the period. Natixis boosted its position in Udemy by 60.8% in the 1st quarter. Natixis now owns 8,967 shares of the company’s stock valued at $99,000 after buying an additional 3,391 shares during the period. Finally, Silvercrest Asset Management Group LLC purchased a new position in Udemy during the 1st quarter worth $8,109,000. 79.48% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Morgan Stanley cut Udemy from an “equal weight” rating to an “underweight” rating and dropped their target price for the company from $10.00 to $7.50 in a research report on Friday, September 27th. Canaccord Genuity Group initiated coverage on Udemy in a research note on Thursday, August 8th. They set a “buy” rating and a $12.00 price objective for the company. Cantor Fitzgerald upgraded Udemy to a “strong-buy” rating in a research note on Tuesday, August 13th. KeyCorp dropped their price objective on Udemy from $14.00 to $13.00 and set an “overweight” rating on the stock in a report on Monday, July 22nd. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $15.00 target price on shares of Udemy in a research report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $11.92.

Insider Activity at Udemy

In other news, Director Eren Bali sold 15,000 shares of the company’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $9.10, for a total value of $136,500.00. Following the completion of the transaction, the director now directly owns 1,639,477 shares in the company, valued at approximately $14,919,240.70. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Sarah Blanchard sold 45,000 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $8.05, for a total transaction of $362,250.00. Following the completion of the transaction, the chief financial officer now owns 1,001,761 shares of the company’s stock, valued at approximately $8,064,176.05. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Eren Bali sold 15,000 shares of the firm’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 owns 1,639,477 shares in the company, valued at $14,919,240.70. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 61,000 shares of company stock worth $505,830. 3.20% of the stock is currently owned by corporate insiders.

Udemy Trading Up 0.8 %

NASDAQ:UDMY opened at $8.01 on Wednesday. The company has a market capitalization of $1.23 billion, a P/E ratio of -15.11 and a beta of 1.97. The firm has a 50-day moving average price of $7.77 and a two-hundred day moving average price of $8.69. Udemy, Inc. has a twelve month low of $6.67 and a twelve month high of $16.01.

Udemy (NASDAQ:UDMY) last announced its earnings results on Wednesday, July 31st. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.07). Udemy had a negative return on equity of 26.62% and a negative net margin of 11.39%. The firm had revenue of $194.36 million for the quarter, compared to analyst estimates of $194.17 million. On average, equities research analysts predict 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.