224,206 Shares in Udemy, Inc. (NASDAQ:UDMY) Purchased by Federated Hermes Inc.

Federated Hermes Inc. acquired a new position in Udemy, Inc. (NASDAQ:UDMY) during the 4th quarter, according to its most recent filing with the SEC. The fund acquired 224,206 shares of the company’s stock, valued at approximately $3,303,000. Federated Hermes Inc. owned approximately 0.15% of Udemy as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. raised its stake in Udemy by 19.3% in the 3rd quarter. Vanguard Group Inc. now owns 8,860,490 shares of the company’s stock valued at $84,175,000 after purchasing an additional 1,433,980 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new position in Udemy in the 4th quarter valued at about $3,057,000. Charles Schwab Investment Management Inc. raised its stake in Udemy by 21.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 666,116 shares of the company’s stock valued at $6,328,000 after purchasing an additional 117,846 shares during the last quarter. Algert Global LLC acquired a new position in Udemy in the 3rd quarter valued at about $484,000. Finally, Dark Forest Capital Management LP acquired a new position in Udemy in the 3rd quarter valued at about $321,000. 79.48% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on UDMY. Morgan Stanley cut their target price on shares of Udemy from $15.00 to $13.00 and set an “equal weight” rating for the company in a research note on Friday, April 19th. Robert W. Baird boosted their target price on shares of Udemy from $15.00 to $17.00 and gave the company an “outperform” rating in a research note on Thursday, February 15th. KeyCorp upped their price objective on shares of Udemy from $13.00 to $15.00 and gave the company an “overweight” rating in a research note on Friday, January 12th. Needham & Company LLC reaffirmed a “buy” rating and set a $15.00 price objective on shares of Udemy in a research note on Thursday, April 4th. Finally, TheStreet downgraded shares of Udemy from a “c-” rating to a “d+” rating in a research note on Wednesday, March 6th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Udemy has a consensus rating of “Moderate Buy” and a consensus price target of $14.78.

Insider Buying and Selling

In related news, Director Eren Bali sold 15,000 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $10.96, for a total transaction of $164,400.00. Following the completion of the sale, the director now owns 1,661,050 shares of the company’s stock, valued at approximately $18,205,108. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Udemy news, CEO Gregory Scott Brown sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $11.04, for a total value of $110,400.00. Following the completion of the transaction, the chief executive officer now owns 1,163,328 shares in the company, valued at approximately $12,843,141.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Eren Bali sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $10.96, for a total value of $164,400.00. Following the completion of the transaction, the director now owns 1,661,050 shares of the company’s stock, valued at approximately $18,205,108. The disclosure for this sale can be found here. In the last quarter, insiders sold 50,981 shares of company stock valued at $570,044. 3.20% of the stock is currently owned by corporate insiders.

Udemy Price Performance

UDMY opened at $10.18 on Friday. The firm has a 50 day moving average price of $10.71 and a 200 day moving average price of $12.30. Udemy, Inc. has a 1 year low of $8.17 and a 1 year high of $16.01.

Udemy (NASDAQ:UDMY) last posted its earnings results on Wednesday, February 14th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.04. The firm had revenue of $189.55 million during the quarter, compared to the consensus estimate of $185.71 million. Udemy had a negative net margin of 14.72% and a negative return on equity of 27.31%. As a group, analysts forecast that Udemy, Inc. will post -0.47 earnings per share for the current fiscal year.

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.