117,309 Shares in Udemy, Inc. $UDMY Purchased by Quantbot Technologies LP

Quantbot Technologies LP acquired a new stake in Udemy, Inc. (NASDAQ:UDMY) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 117,309 shares of the company’s stock, valued at approximately $825,000. Quantbot Technologies LP owned about 0.08% of Udemy as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Udemy by 12.2% in the first quarter. Vanguard Group Inc. now owns 10,663,298 shares of the company’s stock valued at $82,747,000 after purchasing an additional 1,156,006 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Udemy by 139.2% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 241,465 shares of the company’s stock worth $1,874,000 after buying an additional 140,536 shares in the last quarter. Invesco Ltd. increased its position in Udemy by 16.9% in the 1st quarter. Invesco Ltd. now owns 96,439 shares of the company’s stock valued at $748,000 after acquiring an additional 13,936 shares during the period. Nuveen LLC bought a new stake in Udemy during the 1st quarter valued at $1,718,000. Finally, HighTower Advisors LLC boosted its position in Udemy by 7.8% during the 1st quarter. HighTower Advisors LLC now owns 22,551 shares of the company’s stock worth $175,000 after acquiring an additional 1,641 shares during the period. Institutional investors own 79.48% of the company’s stock.

Udemy Trading Up 1.0%

NASDAQ:UDMY opened at $5.31 on Wednesday. The company has a 50-day moving average of $5.84 and a 200-day moving average of $6.63. The firm has a market cap of $777.28 million, a price-to-earnings ratio of -176.94 and a beta of 1.74. Udemy, Inc. has a twelve month low of $4.86 and a twelve month high of $10.61.

Udemy (NASDAQ:UDMY) last released its earnings results on Wednesday, October 29th. The company reported $0.13 EPS for the quarter, beating the consensus estimate of $0.10 by $0.03. The business had revenue of $195.68 million during the quarter, compared to analyst estimates of $193.09 million. Udemy had a negative net margin of 0.47% and a positive return on equity of 2.11%. The business’s quarterly revenue was up .1% on a year-over-year basis. During the same period in the prior year, the business earned $0.07 earnings per share. On average, research analysts forecast that Udemy, Inc. will post -0.09 earnings per share for the current year.

Udemy announced that its board has approved a share repurchase plan on Wednesday, September 10th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the company to purchase up to 5% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

Insider Activity at Udemy

In other news, CFO Sarah Blanchard sold 25,000 shares of the company’s stock in a transaction on Monday, September 15th. The stock was sold at an average price of $7.08, for a total transaction of $177,000.00. Following the completion of the sale, the chief financial officer directly owned 1,287,953 shares of the company’s stock, valued at $9,118,707.24. This represents a 1.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 3.20% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on UDMY shares. Canaccord Genuity Group reissued a “buy” rating and set a $12.00 price target on shares of Udemy in a report on Thursday, October 30th. Wall Street Zen upgraded shares of Udemy from a “buy” rating to a “strong-buy” rating in a research report on Sunday. Needham & Company LLC reaffirmed a “buy” rating and issued a $11.00 price target on shares of Udemy in a research note on Thursday, October 30th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Udemy in a report on Wednesday, October 8th. Finally, KeyCorp dropped their target price on Udemy from $11.00 to $9.00 and set an “overweight” rating on the stock in a report on Thursday, October 30th. Five equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Udemy currently has an average rating of “Hold” and an average price target of $9.63.

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.