Udemy, Inc. (NASDAQ:UDMY) Stock Position Raised by Bank of New York Mellon Corp

Bank of New York Mellon Corp lifted its position in Udemy, Inc. (NASDAQ:UDMY) by 7.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 282,587 shares of the company’s stock after acquiring an additional 19,934 shares during the quarter. Bank of New York Mellon Corp’s holdings in Udemy were worth $2,326,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in UDMY. Point72 DIFC Ltd purchased a new stake in shares of Udemy in the 3rd quarter valued at approximately $30,000. Nisa Investment Advisors LLC lifted its position in shares of Udemy by 496.7% in the 4th quarter. Nisa Investment Advisors LLC now owns 7,220 shares of the company’s stock valued at $59,000 after acquiring an additional 6,010 shares in the last quarter. Victory Capital Management Inc. purchased a new stake in shares of Udemy in the 3rd quarter valued at approximately $75,000. Falcon Wealth Planning purchased a new stake in Udemy in the 4th quarter worth approximately $85,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in Udemy in the 3rd quarter worth approximately $103,000. Hedge funds and other institutional investors own 79.48% of the company’s stock.

Analyst Ratings Changes

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

Insiders Place Their Bets

In other Udemy news, major shareholder Ltd Naspers sold 3,200,000 shares of the firm’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $7.84, for a total value of $25,088,000.00. Following the sale, the insider now directly owns 13,920,840 shares in the company, valued at $109,139,385.60. This trade represents a 18.69 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CTO Eren Bali sold 69,482 shares of the firm’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $9.00, for a total transaction of $625,338.00. Following the completion of the sale, the chief technology officer now owns 2,156,050 shares in the company, valued at $19,404,450. This represents a 3.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 3,304,322 shares of company stock worth $26,033,418 in the last ninety days. Insiders own 3.20% of the company’s stock.

Udemy Stock Performance

NASDAQ:UDMY opened at $8.51 on Friday. Udemy, Inc. has a 1 year low of $6.67 and a 1 year high of $11.60. The firm’s fifty 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 (NASDAQ:UDMY) last posted its quarterly earnings results on Thursday, February 13th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.10). The company had revenue of $199.94 million during the quarter, compared to analyst estimates of $194.70 million. Udemy had a negative return on equity of 27.93% and a negative net margin of 10.84%. As a group, analysts anticipate that Udemy, Inc. will post -0.09 EPS for the current fiscal year.

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.