UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Cuts Stake in Udemy, Inc. (NASDAQ:UDMY)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its holdings in shares of Udemy, Inc. (NASDAQ:UDMY) by 9.7% during the 3rd quarter, Holdings Channel reports. The firm owned 154,191 shares of the company’s stock after selling 16,495 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Udemy were worth $1,147,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in UDMY. Ariadne Wealth Management LP purchased a new stake in Udemy in the 2nd quarter worth $67,000. Quest Partners LLC increased its holdings in shares of Udemy by 6,957.5% in the second quarter. Quest Partners LLC now owns 8,963 shares of the company’s stock worth $77,000 after purchasing an additional 8,836 shares during the last quarter. Victory Capital Management Inc. bought a new stake in shares of Udemy in the third quarter worth about $75,000. XTX Topco Ltd purchased a new stake in shares of Udemy in the second quarter worth about $93,000. Finally, Renaissance Technologies LLC bought a new position in Udemy during the second quarter valued at approximately $133,000. 79.48% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Udemy

In related news, CTO Eren Bali sold 35,518 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $9.00, for a total value of $319,662.00. Following the completion of the sale, the chief technology officer now owns 2,225,532 shares in the company, valued at approximately $20,029,788. The trade was a 1.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Gregory Scott Brown sold 10,000 shares of the firm’s stock in a transaction on Friday, December 6th. The stock was 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 $10,304,679.06. The trade was a 0.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 55,518 shares of company stock worth $491,762. 3.20% of the stock is currently owned by insiders.

Udemy Trading Down 4.5 %

Shares of NASDAQ:UDMY opened at $7.85 on Thursday. The company has a market capitalization of $1.15 billion, a price-to-earnings ratio of -12.46 and a beta of 1.91. Udemy, Inc. has a 12 month low of $6.67 and a 12 month high of $15.39. The firm’s 50-day moving average is $8.16 and its 200 day moving average is $8.11.

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

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Morgan Stanley downgraded Udemy from an “equal weight” rating to an “underweight” rating and reduced their price objective for the stock from $10.00 to $7.50 in a research note on Friday, September 27th. Cantor Fitzgerald decreased their price target on shares of Udemy from $18.00 to $11.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. Needham & Company LLC lowered their price objective on shares of Udemy from $15.00 to $11.00 and set a “buy” rating for the company in a research report on Wednesday, October 30th. Finally, Scotiabank assumed coverage on shares of Udemy in a research report on Thursday, December 5th. They set a “sector outperform” rating and a $10.00 target price on the stock. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $10.92.

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.