Udemy, Inc. (NASDAQ:UDMY) Shares Purchased by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company boosted its holdings in Udemy, Inc. (NASDAQ:UDMY) by 6.9% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 51,780 shares of the company’s stock after purchasing an additional 3,336 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Udemy were worth $447,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Quest Partners LLC boosted its holdings in Udemy by 6,957.5% in the second quarter. Quest Partners LLC now owns 8,963 shares of the company’s stock valued at $77,000 after purchasing an additional 8,836 shares in the last quarter. Natixis boosted its holdings in shares of Udemy by 60.8% in the first quarter. Natixis now owns 8,967 shares of the company’s stock valued at $99,000 after acquiring an additional 3,391 shares during the period. XTX Topco Ltd acquired a new stake in shares of Udemy in the second quarter valued at approximately $93,000. Principal Financial Group Inc. boosted its holdings in shares of Udemy by 18.8% in the first quarter. Principal Financial Group Inc. now owns 12,053 shares of the company’s stock valued at $132,000 after acquiring an additional 1,904 shares during the period. Finally, Renaissance Technologies LLC acquired a new stake in shares of Udemy in the second quarter valued at approximately $133,000. 79.48% of the stock is owned by institutional investors and hedge funds.

Udemy Stock Up 2.2 %

Shares of UDMY stock opened at $8.19 on Thursday. Udemy, Inc. has a fifty-two week low of $6.67 and a fifty-two week high of $16.01. The stock has a market cap of $1.23 billion, a P/E ratio of -14.37 and a beta of 1.97. The business has a fifty day simple moving average of $7.81 and a 200-day simple moving average of $8.67.

Udemy (NASDAQ:UDMY) last announced its quarterly earnings results on Wednesday, July 31st. The company reported ($0.20) earnings per share 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 during the quarter, compared to analysts’ expectations of $194.17 million. On average, sell-side analysts anticipate that Udemy, Inc. will post -0.52 earnings per share for the current year.

Insider Activity

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on UDMY shares. KeyCorp decreased their price objective on Udemy from $14.00 to $13.00 and set an “overweight” rating for the company in a report on Monday, July 22nd. Canaccord Genuity Group started coverage on Udemy in a report on Thursday, August 8th. They issued a “buy” rating and a $12.00 price objective for the company. Canaccord Genuity Group started coverage on Udemy in a research note on Thursday, August 8th. They set a “buy” rating and a $12.00 price target for the company. Robert W. Baird cut their price target on Udemy from $13.00 to $11.00 and set an “outperform” rating for the company in a research note on Thursday, August 1st. Finally, Bank of America cut Udemy from a “buy” rating to a “neutral” rating and set a $8.50 price target for the company. in a research note on Thursday, August 1st. One analyst has rated the stock with a sell rating, four have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Udemy currently has a consensus rating of “Moderate Buy” and a consensus price target of $11.92.

About Udemy

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.