10,031 Shares in Udemy, Inc. (NASDAQ:UDMY) Purchased by Victory Capital Management Inc.

Victory Capital Management Inc. purchased a new position in Udemy, Inc. (NASDAQ:UDMY) during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 10,031 shares of the company’s stock, valued at approximately $75,000.

A number of other institutional investors also recently bought and sold shares of UDMY. Vanguard Group Inc. increased its stake in shares of Udemy by 1.2% in the first 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 during the period. Sea Cliff Partners Management LP raised its stake in shares of Udemy by 27.9% during the 2nd quarter. Sea Cliff Partners Management LP now owns 3,725,865 shares of the company’s stock valued at $32,154,000 after buying an additional 811,702 shares during the last quarter. Industry Ventures L.L.C. purchased a new position in shares of Udemy during the 2nd quarter valued at about $3,452,000. Bank of New York Mellon Corp lifted its holdings in shares of Udemy by 18.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 330,044 shares of the company’s stock valued at $2,848,000 after buying an additional 50,473 shares during the period. Finally, Assenagon Asset Management S.A. boosted its stake in shares of Udemy by 106.5% in the third quarter. Assenagon Asset Management S.A. now owns 242,791 shares of the company’s stock worth $1,806,000 after buying an additional 125,235 shares during the last quarter. 79.48% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Cantor Fitzgerald reduced their price target on Udemy from $18.00 to $11.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. Canaccord Genuity Group initiated coverage on shares of Udemy in a research note on Thursday, August 8th. They issued a “buy” rating and a $12.00 target price for the company. Morgan Stanley lowered shares of Udemy from an “equal weight” rating to an “underweight” rating and dropped their price target for the company from $10.00 to $7.50 in a research report on Friday, September 27th. Canaccord Genuity Group began coverage on shares of Udemy in a report on Thursday, August 8th. They issued a “buy” rating and a $12.00 price objective for the company. Finally, Needham & Company LLC lowered their target price on shares of Udemy from $15.00 to $11.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Udemy presently has a consensus rating of “Moderate Buy” and an average target price of $11.00.

Insider Activity

In other news, CEO Gregory Scott Brown sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $8.50, for a total value of $85,000.00. Following the transaction, the chief executive officer now directly owns 1,203,727 shares in the company, valued at approximately $10,231,679.50. This represents a 0.82 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CTO Eren Bali sold 35,518 shares of Udemy stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $9.00, for a total transaction of $319,662.00. Following the completion of the sale, the chief technology officer now owns 2,225,532 shares of the company’s stock, valued at $20,029,788. This trade represents a 1.57 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 3.20% of the company’s stock.

Udemy Price Performance

Shares of NASDAQ:UDMY opened at $7.96 on Monday. Udemy, Inc. has a 1 year low of $6.67 and a 1 year high of $16.01. The firm has a market capitalization of $1.16 billion, a PE ratio of -12.63 and a beta of 1.95. The business’s 50 day moving average price is $7.97 and its 200-day moving average price is $8.20.

Udemy (NASDAQ:UDMY) last released its earnings results on Tuesday, October 29th. The company reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.06. The business had revenue of $195.42 million during the quarter, compared to analyst estimates of $192.69 million. Udemy had a negative net margin of 12.33% and a negative return on equity of 29.36%. The company’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.10) earnings per share. As a group, analysts expect that Udemy, Inc. will post -0.47 earnings per share for the current year.

Udemy Company 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.