Udemy, Inc. (NASDAQ:UDMY) Stock Position Raised by Royce & Associates LP

Royce & Associates LP lifted its holdings in shares of Udemy, Inc. (NASDAQ:UDMY) by 1.1% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 944,059 shares of the company’s stock after buying an additional 10,650 shares during the period. Royce & Associates LP owned 0.65% of Udemy worth $7,024,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. ProShare Advisors LLC grew its position 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 during the last quarter. Swiss National Bank grew its position in Udemy by 2.2% in the 1st 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 last quarter. The Manufacturers Life Insurance Company grew its position in Udemy by 6.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 51,780 shares of the company’s stock worth $447,000 after purchasing an additional 3,336 shares during the last quarter. Natixis grew its position in Udemy by 60.8% in the 1st quarter. Natixis now owns 8,967 shares of the company’s stock worth $99,000 after purchasing an additional 3,391 shares during the last quarter. Finally, Harbor Capital Advisors Inc. grew its position in Udemy by 28.9% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 20,433 shares of the company’s stock worth $152,000 after purchasing an additional 4,581 shares during the last quarter. Institutional investors own 79.48% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Canaccord Genuity Group assumed coverage on shares of Udemy in a research report on Thursday, August 8th. They issued a “buy” rating and a $12.00 target price for the company. KeyCorp decreased their target price on shares of Udemy from $14.00 to $13.00 and set an “overweight” rating for the company in a research report on Monday, July 22nd. Canaccord Genuity Group assumed coverage on shares of Udemy in a research report on Thursday, August 8th. They issued a “buy” rating and a $12.00 target price for the company. Bank of America cut shares of Udemy from a “buy” rating to a “neutral” rating and set a $8.50 target price for the company. in a research report on Thursday, August 1st. Finally, Cantor Fitzgerald reduced their price target on shares of Udemy from $18.00 to $11.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $11.00.

Insider Buying and Selling

In related news, CTO Eren Bali sold 35,518 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $9.00, for a total value of $319,662.00. Following the completion of the transaction, the chief technology officer now owns 2,225,532 shares of the company’s stock, valued at approximately $20,029,788. This trade represents a 1.57 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Gregory Scott Brown sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $8.50, for a total transaction of $85,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,203,727 shares of the company’s stock, valued at $10,231,679.50. This represents a 0.82 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 90,518 shares of company stock valued at $766,912. Company insiders own 3.20% of the company’s stock.

Udemy Price Performance

UDMY stock opened at $7.96 on Monday. Udemy, Inc. has a 12 month low of $6.67 and a 12 month high of $16.01. The firm has a market cap of $1.16 billion, a PE ratio of -12.63 and a beta of 1.95. The firm has a 50 day simple moving average of $8.01 and a 200 day simple moving average of $8.37.

Udemy (NASDAQ:UDMY) last released its earnings results on Tuesday, October 29th. The company reported $0.07 EPS for the quarter, beating 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 business had revenue of $195.42 million during the quarter, compared to analyst estimates of $192.69 million. During the same period in the prior year, the business earned ($0.10) earnings per share. The business’s quarterly revenue was up 5.8% on a year-over-year basis. As a group, sell-side analysts expect that Udemy, Inc. will post -0.47 earnings per share for the current year.

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.