State Street Corp Grows Position in Udemy, Inc. (NASDAQ:UDMY)

State Street Corp increased its holdings in Udemy, Inc. (NASDAQ:UDMY) by 0.8% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,934,473 shares of the company’s stock after purchasing an additional 15,339 shares during the period. State Street Corp owned approximately 1.33% of Udemy worth $14,392,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of UDMY. Sea Cliff Partners Management LP boosted its stake in Udemy by 27.9% during the second quarter. Sea Cliff Partners Management LP now owns 3,725,865 shares of the company’s stock worth $32,154,000 after acquiring an additional 811,702 shares in the last quarter. FMR LLC lifted its holdings in Udemy by 2.8% during the third quarter. FMR LLC now owns 1,330,073 shares of the company’s stock valued at $9,896,000 after purchasing an additional 36,380 shares in the last quarter. Royce & Associates LP grew its position in shares of Udemy by 1.1% during the third quarter. Royce & Associates LP now owns 944,059 shares of the company’s stock worth $7,024,000 after purchasing an additional 10,650 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Udemy by 3.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 761,920 shares of the company’s stock valued at $5,669,000 after acquiring an additional 27,959 shares in the last quarter. Finally, Summit Trail Advisors LLC boosted its stake in Udemy by 939.8% during the third quarter. Summit Trail Advisors LLC now owns 366,795 shares of the company’s stock valued at $2,729,000 after buying an additional 331,521 shares during the last quarter. 79.48% of the stock is owned by hedge funds and other institutional investors.

Udemy Trading Up 0.1 %

Shares of UDMY opened at $7.98 on Wednesday. The stock’s fifty day simple moving average is $8.17 and its 200 day simple moving average is $8.10. Udemy, Inc. has a twelve month low of $6.67 and a twelve month high of $15.34. The firm has a market capitalization of $1.16 billion, a P/E ratio of -12.67 and a beta of 1.91.

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

Insider Buying and Selling at Udemy

In other Udemy news, CTO Eren Bali sold 35,518 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $9.00, for a total transaction of $319,662.00. Following the sale, the chief technology officer now directly owns 2,225,532 shares in the company, valued at approximately $20,029,788. The trade was a 1.57 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Gregory Scott Brown sold 10,000 shares of Udemy stock in a transaction on Friday, December 6th. The shares were sold at an average price of $8.71, for a total value of $87,100.00. Following the transaction, the chief executive officer now owns 1,183,086 shares in the company, valued at approximately $10,304,679.06. This trade represents a 0.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 55,518 shares of company stock worth $491,762 over the last 90 days. Insiders own 3.20% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on UDMY. Scotiabank assumed coverage on shares of Udemy in a report on Thursday, December 5th. They issued a “sector outperform” rating and a $10.00 target price for 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. Morgan Stanley downgraded Udemy from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $10.00 to $7.50 in a research note on Friday, September 27th. Finally, Needham & Company LLC dropped their price target on Udemy from $15.00 to $11.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $10.92.

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.