Algert Global LLC Acquires 107,390 Shares of Udemy, Inc. (NASDAQ:UDMY)

Algert Global LLC increased its holdings in shares of Udemy, Inc. (NASDAQ:UDMY) by 45.0% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 346,062 shares of the company’s stock after acquiring an additional 107,390 shares during the period. Algert Global LLC owned about 0.24% of Udemy worth $2,575,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in UDMY. Sea Cliff Partners Management LP boosted its holdings 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 valued at $32,154,000 after purchasing an additional 811,702 shares in the last quarter. Industry Ventures L.L.C. acquired a new stake in Udemy in the 2nd quarter valued at $3,452,000. Jacobs Levy Equity Management Inc. grew its position in Udemy by 645.2% in the first quarter. Jacobs Levy Equity Management Inc. now owns 437,531 shares of the company’s stock valued at $4,804,000 after acquiring an additional 378,819 shares during the period. Assenagon Asset Management S.A. raised its stake in Udemy by 106.5% during the third quarter. Assenagon Asset Management S.A. now owns 242,791 shares of the company’s stock worth $1,806,000 after acquiring an additional 125,235 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of Udemy by 1.2% during the first quarter. Vanguard Group Inc. now owns 9,472,216 shares of the company’s stock valued at $104,005,000 after acquiring an additional 116,346 shares during the period. Institutional investors own 79.48% of the company’s stock.

Udemy Price Performance

UDMY stock opened at $7.95 on Wednesday. The stock has a market capitalization of $1.16 billion, a P/E ratio of -12.62 and a beta of 1.95. Udemy, Inc. has a fifty-two week low of $6.67 and a fifty-two week high of $16.01. The business has a 50-day moving average of $7.99 and a 200-day moving average of $8.25.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on UDMY shares. Canaccord Genuity Group assumed coverage on shares of Udemy in a research report on Thursday, August 8th. They set a “buy” rating and a $12.00 target price for the company. Robert W. Baird lowered their target price on Udemy from $13.00 to $11.00 and set an “outperform” rating for the company in a research note on Thursday, August 1st. Canaccord Genuity Group started coverage on shares of Udemy in a research report on Thursday, August 8th. They set a “buy” rating and a $12.00 price target on the stock. Morgan Stanley cut shares of Udemy from an “equal weight” rating to an “underweight” rating and decreased their price target for the company from $10.00 to $7.50 in a research note on Friday, September 27th. Finally, Bank of America downgraded Udemy from a “buy” rating to a “neutral” rating and set a $8.50 price objective on the stock. in a report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $11.00.

Insider Transactions at Udemy

In other Udemy news, CTO Eren Bali sold 35,518 shares of the company’s stock in a transaction 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 sale, the chief technology officer now directly owns 2,225,532 shares of the company’s stock, valued at approximately $20,029,788. This represents a 1.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Gregory Scott Brown sold 10,000 shares of Udemy stock in a transaction dated Tuesday, October 29th. The shares were 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 approximately $10,231,679.50. This trade represents a 0.82 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 3.20% of the company’s stock.

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.