Vanguard Group Inc. Decreases Holdings in Udemy, Inc. $UDMY

Vanguard Group Inc. trimmed its holdings in shares of Udemy, Inc. (NASDAQ:UDMY) by 23.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,153,668 shares of the company’s stock after selling 2,741,917 shares during the quarter. Vanguard Group Inc. owned 0.06% of Udemy worth $53,549,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in UDMY. Westerly Capital Management LLC purchased a new stake in shares of Udemy during the 3rd quarter valued at about $15,878,000. UBS Group AG raised its position in shares of Udemy by 56.8% during the 3rd quarter. UBS Group AG now owns 1,786,371 shares of the company’s stock valued at $12,522,000 after buying an additional 646,755 shares in the last quarter. JPMorgan Chase & Co. raised its position in Udemy by 455.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 703,957 shares of the company’s stock worth $4,949,000 after purchasing an additional 577,155 shares during the period. Two Sigma Investments LP purchased a new stake in Udemy in the 3rd quarter worth about $3,831,000. Finally, Cubist Systematic Strategies LLC raised its position in Udemy by 100.9% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 1,008,906 shares of the company’s stock worth $7,093,000 after purchasing an additional 506,678 shares during the period. 79.48% of the stock is currently owned by hedge funds and other institutional investors.

Udemy Price Performance

Udemy stock opened at $4.63 on Friday. Udemy, Inc. has a 1-year low of $4.02 and a 1-year high of $8.09. The firm has a market capitalization of $675.68 million, a P/E ratio of 231.62 and a beta of 1.59. The company’s 50-day moving average is $4.73 and its 200 day moving average is $5.08.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Canaccord Genuity Group set a $5.00 price objective on shares of Udemy in a research report on Monday, February 9th. Weiss Ratings lowered shares of Udemy from a “sell (d)” rating to a “sell (e+)” rating in a research report on Monday. Two analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $8.80.

Insiders Place Their Bets

In related news, CFO Sarah Blanchard sold 25,000 shares of the stock in a transaction dated Friday, March 13th. The shares were sold at an average price of $4.78, for a total value of $119,500.00. Following the sale, the chief financial officer directly owned 1,455,763 shares of the company’s stock, valued at $6,958,547.14. This represents a 1.69% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 3.20% of the stock is owned by company insiders.

About Udemy

Udemy, Inc (NASDAQ: UDMY) operates a leading online learning marketplace that connects learners and instructors across a wide range of subject areas. The company’s platform hosts thousands of self-paced video courses covering technology, business, personal development, creative arts and more. Individual learners can purchase courses on demand, while instructors receive revenue share for teaching content to a global audience.

In addition to its consumer-facing marketplace, Udemy provides enterprise learning solutions under the Udemy for Business brand.