Connor Clark & Lunn Investment Management Ltd. Takes Position in Udemy, Inc. (NASDAQ:UDMY)

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Udemy, Inc. (NASDAQ:UDMY) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 100,929 shares of the company’s stock, valued at approximately $831,000. Connor Clark & Lunn Investment Management Ltd. owned about 0.07% of Udemy at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. SBI Securities Co. Ltd. acquired a new stake in shares of Udemy in the 4th quarter valued at approximately $31,000. Point72 DIFC Ltd bought a new stake in Udemy in the 3rd quarter valued at $30,000. Handelsbanken Fonder AB raised its stake in Udemy by 45.2% in the 4th quarter. Handelsbanken Fonder AB now owns 15,100 shares of the company’s stock valued at $124,000 after acquiring an additional 4,700 shares during the period. SG Americas Securities LLC raised its stake in Udemy by 22.2% in the 4th quarter. SG Americas Securities LLC now owns 29,674 shares of the company’s stock valued at $244,000 after acquiring an additional 5,384 shares during the period. Finally, Geode Capital Management LLC raised its stake in Udemy by 0.3% in the 3rd quarter. Geode Capital Management LLC now owns 2,216,868 shares of the company’s stock valued at $16,497,000 after acquiring an additional 5,972 shares during the period. Institutional investors and hedge funds own 79.48% of the company’s stock.

Insider Activity

In other news, CTO Eren Bali sold 69,482 shares of Udemy stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $9.00, for a total transaction of $625,338.00. Following the sale, the chief technology officer now directly owns 2,156,050 shares of the company’s stock, valued at approximately $19,404,450. This trade represents a 3.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Gregory Scott Brown sold 10,000 shares of Udemy stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $9.43, for a total value of $94,300.00. Following the sale, the chief executive officer now directly owns 1,141,896 shares in the company, valued at $10,768,079.28. The trade was a 0.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,304,322 shares of company stock valued at $26,033,418. 3.20% of the stock is currently owned by corporate insiders.

Udemy Price Performance

NASDAQ:UDMY opened at $8.51 on Friday. The stock’s 50-day simple moving average is $8.56 and its 200 day simple moving average is $8.24. The firm has a market capitalization of $1.26 billion, a PE ratio of -14.93 and a beta of 1.76. Udemy, Inc. has a twelve month low of $6.67 and a twelve month high of $11.60.

Udemy (NASDAQ:UDMY) last released its quarterly earnings data on Thursday, February 13th. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.10). The business had revenue of $199.94 million during the quarter, compared to analyst estimates of $194.70 million. Udemy had a negative net margin of 10.84% and a negative return on equity of 27.93%. On average, analysts anticipate that Udemy, Inc. will post -0.09 EPS for the current fiscal year.

Analysts Set New Price Targets

UDMY has been the topic of a number of research analyst reports. Morgan Stanley increased their price target on Udemy from $7.50 to $9.00 and gave the company an “underweight” rating in a research note on Thursday, February 20th. Scotiabank initiated coverage on Udemy in a research note on Thursday, December 5th. They issued a “sector outperform” rating and a $10.00 price target on the stock. Needham & Company LLC restated a “buy” rating and issued a $11.00 price target on shares of Udemy in a research note on Wednesday, March 12th. William Blair cut Udemy from an “outperform” rating to a “market perform” rating in a research note on Wednesday, March 12th. Finally, Canaccord Genuity Group increased their price objective on Udemy from $12.00 to $14.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Udemy currently has an average rating of “Moderate Buy” and a consensus target price of $10.95.

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.