Quest Partners LLC Increases Holdings in Udemy, Inc. (NASDAQ:UDMY)

Quest Partners LLC boosted its holdings in shares of Udemy, Inc. (NASDAQ:UDMY) by 6,957.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,963 shares of the company’s stock after purchasing an additional 8,836 shares during the quarter. Quest Partners LLC’s holdings in Udemy were worth $77,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sea Cliff Partners Management LP bought a new stake in Udemy in the 4th quarter worth approximately $25,661,000. Silvercrest Asset Management Group LLC purchased a new position in shares of Udemy in the first quarter valued at $8,109,000. Invenomic Capital Management LP increased its position in Udemy by 22.9% in the first quarter. Invenomic Capital Management LP now owns 2,747,453 shares of the company’s stock worth $30,167,000 after purchasing an additional 512,618 shares during the last quarter. Vanguard Group Inc. raised its stake in Udemy by 5.6% during the fourth quarter. Vanguard Group Inc. now owns 9,355,870 shares of the company’s stock valued at $137,812,000 after purchasing an additional 495,380 shares in the last quarter. Finally, Industry Ventures L.L.C. bought a new position in Udemy during the second quarter valued at $3,452,000. Institutional investors own 79.48% of the company’s stock.

Udemy Price Performance

UDMY stock opened at $8.04 on Wednesday. Udemy, Inc. has a 1-year low of $6.67 and a 1-year high of $16.01. The business has a 50-day moving average price of $8.04 and a 200 day moving average price of $9.14. The company has a market capitalization of $1.23 billion, a P/E ratio of -15.17 and a beta of 1.99.

Udemy (NASDAQ:UDMY) last posted its quarterly earnings results on Wednesday, July 31st. The company reported ($0.20) EPS for the quarter, missing the consensus estimate 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 business had revenue of $194.36 million during the quarter, compared to the consensus estimate of $194.17 million. On average, analysts anticipate that Udemy, Inc. will post -0.52 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Robert W. Baird decreased their price objective on Udemy from $13.00 to $11.00 and set an “outperform” rating on the stock in a research report on Thursday, August 1st. Canaccord Genuity Group began coverage on shares of Udemy in a research report on Thursday, August 8th. They issued a “buy” rating and a $12.00 price objective on the stock. Needham & Company LLC restated a “buy” rating and set a $15.00 target price on shares of Udemy in a research report on Thursday, August 1st. Bank of America downgraded Udemy from a “buy” rating to a “neutral” rating and set a $8.50 price target on the stock. in a report on Thursday, August 1st. Finally, Cantor Fitzgerald upgraded Udemy to a “strong-buy” rating in a report on Tuesday, August 13th. Five equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $12.38.

Insiders Place Their Bets

In other news, CFO Sarah Blanchard sold 45,000 shares of the business’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $8.05, for a total value of $362,250.00. Following the completion of the transaction, the chief financial officer now directly owns 1,001,761 shares of the company’s stock, valued at approximately $8,064,176.05. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, Director Eren Bali sold 15,000 shares of the 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 of the company’s stock, valued at $14,919,240.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Sarah Blanchard sold 45,000 shares of Udemy stock in a transaction on Wednesday, August 21st. The stock was 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 directly owns 1,001,761 shares in the company, valued at $8,064,176.05. The disclosure for this sale can be found here. Insiders sold a total of 72,000 shares of company stock worth $599,430 over the last 90 days. Company insiders own 3.20% of the company’s stock.

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.