Royce & Associates LP Acquires 175,300 Shares of Udemy, Inc. (NASDAQ:UDMY)

Royce & Associates LP raised its holdings in Udemy, Inc. (NASDAQ:UDMY) by 18.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,119,359 shares of the company’s stock after buying an additional 175,300 shares during the period. Royce & Associates LP’s holdings in Udemy were worth $9,212,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in UDMY. SBI Securities Co. Ltd. bought a new stake in Udemy in the 4th quarter valued at $31,000. Point72 DIFC Ltd acquired a new position in shares of Udemy in the third quarter valued at $30,000. Nisa Investment Advisors LLC raised its position in shares of Udemy by 496.7% in the fourth quarter. Nisa Investment Advisors LLC now owns 7,220 shares of the company’s stock valued at $59,000 after purchasing an additional 6,010 shares during the period. Victory Capital Management Inc. bought a new stake in shares of Udemy during the 3rd quarter worth about $75,000. Finally, Falcon Wealth Planning acquired a new position in Udemy in the 4th quarter valued at about $85,000. 79.48% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Udemy

In other Udemy news, major shareholder Ltd Naspers sold 3,200,000 shares of Udemy stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $7.84, for a total value of $25,088,000.00. Following the completion of the sale, the insider now directly owns 13,920,840 shares in the company, valued at approximately $109,139,385.60. The trade was a 18.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Gregory Scott Brown sold 10,000 shares of the stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $9.43, for a total value of $94,300.00. Following the transaction, the chief executive officer now 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. In the last ninety days, insiders sold 3,304,322 shares of company stock valued at $26,033,418. Corporate insiders own 3.20% of the company’s stock.

Udemy Trading Up 0.4 %

Shares of UDMY stock opened at $8.42 on Wednesday. The stock has a 50-day moving average of $8.56 and a 200-day moving average of $8.24. The stock has a market cap of $1.24 billion, a price-to-earnings ratio of -14.77 and a beta of 1.76. Udemy, Inc. has a 1-year low of $6.67 and a 1-year high of $11.60.

Udemy (NASDAQ:UDMY) last released 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). Udemy had a negative return on equity of 27.93% and a negative net margin of 10.84%. The firm had revenue of $199.94 million for the quarter, compared to the consensus estimate of $194.70 million. Sell-side analysts forecast that Udemy, Inc. will post -0.09 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on UDMY. Canaccord Genuity Group boosted their price objective on Udemy from $12.00 to $14.00 and gave the stock a “buy” rating in a report on Friday, February 14th. 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. Morgan Stanley upped their target price on Udemy from $7.50 to $9.00 and gave the company an “underweight” rating in a research report on Thursday, February 20th. William Blair downgraded shares of Udemy from an “outperform” rating to a “market perform” rating in a report on Wednesday, March 12th. Finally, Scotiabank initiated coverage on Udemy in a report on Thursday, December 5th. They set a “sector outperform” rating and a $10.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $10.95.

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.