Quantinno Capital Management LP Invests $2.35 Million in Udemy, Inc. (NASDAQ:UDMY)

Quantinno Capital Management LP acquired a new stake in shares of Udemy, Inc. (NASDAQ:UDMY) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 285,499 shares of the company’s stock, valued at approximately $2,350,000. Quantinno Capital Management LP owned about 0.20% of Udemy as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. MetLife Investment Management LLC raised its position in Udemy by 6.2% in the 4th quarter. MetLife Investment Management LLC now owns 59,465 shares of the company’s stock worth $489,000 after purchasing an additional 3,450 shares during the period. SBI Securities Co. Ltd. purchased a new stake in Udemy in the fourth quarter worth $31,000. Quarry LP bought a new stake in shares of Udemy during the fourth quarter worth $34,000. Price T Rowe Associates Inc. MD lifted its position in shares of Udemy by 14.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 36,064 shares of the company’s stock worth $297,000 after purchasing an additional 4,418 shares during the last quarter. Finally, Handelsbanken Fonder AB boosted its stake in shares of Udemy by 45.2% during the fourth quarter. Handelsbanken Fonder AB now owns 15,100 shares of the company’s stock valued at $124,000 after purchasing an additional 4,700 shares during the period. 79.48% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on UDMY. Morgan Stanley decreased their price objective on shares of Udemy from $9.00 to $7.00 and set an “underweight” rating for the company in a report on Wednesday, April 16th. JPMorgan Chase & Co. lowered their price target on Udemy from $11.00 to $8.00 and set a “neutral” rating for the company in a report on Thursday, April 24th. Cantor Fitzgerald reduced their price objective on Udemy from $11.00 to $9.00 and set an “overweight” rating on the stock in a report on Thursday, May 1st. Canaccord Genuity Group decreased their target price on Udemy from $14.00 to $12.00 and set a “buy” rating for the company in a research report on Thursday, May 1st. Finally, Needham & Company LLC reissued a “buy” rating and set a $11.00 price target on shares of Udemy in a research report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Udemy presently has an average rating of “Moderate Buy” and an average price target of $9.86.

Udemy Stock Performance

UDMY stock opened at $6.99 on Wednesday. Udemy, Inc. has a one year low of $5.68 and a one year high of $10.61. The firm has a market cap of $1.04 billion, a price-to-earnings ratio of -12.26 and a beta of 1.82. The firm has a 50-day simple moving average of $7.06 and a two-hundred day simple moving average of $7.92.

Udemy (NASDAQ:UDMY) last released its quarterly earnings results on Wednesday, April 30th. The company reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.02. Udemy had a negative net margin of 10.84% and a negative return on equity of 27.93%. The business had revenue of $200.30 million for the quarter, compared to analyst estimates of $197.19 million. During the same period in the previous year, the company earned $0.03 earnings per share. The business’s revenue for the quarter was up 1.8% on a year-over-year basis. As a group, equities analysts predict that Udemy, Inc. will post -0.09 earnings per share for the current fiscal year.

Insider Activity at Udemy

In other Udemy news, CEO Gregory Scott Brown sold 10,000 shares of the firm’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $9.43, for a total value of $94,300.00. Following the completion of the transaction, the chief executive officer now owns 1,141,896 shares of the company’s stock, valued at approximately $10,768,079.28. This trade represents a 0.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Hugo Sarrazin acquired 5,432 shares of the stock in a transaction dated Thursday, May 15th. The shares were bought at an average price of $6.99 per share, with a total value of $37,969.68. Following the completion of the purchase, the chief executive officer now directly owns 8,832 shares of the company’s stock, valued at approximately $61,735.68. This trade represents a 159.76% increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 10,600 shares of company stock valued at $74,076 and have sold 20,846 shares valued at $181,268. 2.10% of the stock is currently owned by corporate insiders.

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.