Udemy, Inc. (NASDAQ:UDMY) Stock Holdings Trimmed by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. lessened its holdings in shares of Udemy, Inc. (NASDAQ:UDMY) by 42.4% in the fourth quarter, HoldingsChannel reports. The fund owned 139,913 shares of the company’s stock after selling 102,878 shares during the period. Assenagon Asset Management S.A.’s holdings in Udemy were worth $1,151,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Barclays PLC increased its stake in shares of Udemy by 360.6% during the third quarter. Barclays PLC now owns 155,719 shares of the company’s stock valued at $1,158,000 after acquiring an additional 121,911 shares during the period. Sea Cliff Partners Management LP boosted its stake in Udemy by 27.9% during the 2nd 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. Verition Fund Management LLC acquired a new position in shares of Udemy during the 3rd quarter valued at $1,630,000. Algert Global LLC raised its stake in shares of Udemy by 45.0% in the 3rd quarter. Algert Global LLC now owns 346,062 shares of the company’s stock worth $2,575,000 after buying an additional 107,390 shares in the last quarter. Finally, State Street Corp lifted its holdings in shares of Udemy by 0.8% in the third quarter. State Street Corp now owns 1,934,473 shares of the company’s stock valued at $14,392,000 after buying an additional 15,339 shares during the period. Institutional investors own 79.48% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on UDMY. Scotiabank started coverage on Udemy in a report on Thursday, December 5th. They set a “sector outperform” rating and a $10.00 target price on the stock. Cantor Fitzgerald dropped their target price on shares of Udemy from $18.00 to $11.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th. Needham & Company LLC reissued a “buy” rating and set a $11.00 target price on shares of Udemy in a research note on Friday, January 17th. Finally, Morgan Stanley lowered shares of Udemy from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $10.00 to $7.50 in a research report on Friday, September 27th. 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 company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $10.92.

Insider Activity

In other news, major shareholder Ltd Naspers sold 3,200,000 shares of the stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $7.84, for a total transaction of $25,088,000.00. Following the transaction, the insider now owns 13,920,840 shares of the company’s stock, valued at approximately $109,139,385.60. This represents a 18.69 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Gregory Scott Brown sold 10,000 shares of the business’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 value of $85,000.00. Following the completion of the sale, the chief executive officer now 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 3,255,518 shares of company stock worth $25,579,762 in the last ninety days. Corporate insiders own 3.20% of the company’s stock.

Udemy Trading Up 0.7 %

Shares of Udemy stock opened at $7.54 on Friday. Udemy, Inc. has a 1 year low of $6.67 and a 1 year high of $14.74. The company has a market cap of $1.10 billion, a P/E ratio of -11.97 and a beta of 1.87. The stock has a 50-day moving average price of $8.14 and a 200 day moving average price of $8.07.

Udemy (NASDAQ:UDMY) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm earned ($0.10) earnings per share. The firm’s revenue was up 5.8% compared to the same quarter last year. On average, equities analysts forecast that Udemy, Inc. will post -0.47 earnings per share for the current fiscal year.

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.