UBS Group AG Cuts Stake in Udemy, Inc. $UDMY

UBS Group AG reduced its holdings in shares of Udemy, Inc. (NASDAQ:UDMY) by 26.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,321,756 shares of the company’s stock after selling 464,615 shares during the period. UBS Group AG owned about 0.90% of Udemy worth $7,732,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Udemy by 3.8% during the 3rd quarter. Vanguard Group Inc. now owns 11,895,585 shares of the company’s stock valued at $83,388,000 after purchasing an additional 436,984 shares during the last quarter. Westerly Capital Management LLC bought a new stake in Udemy in the third quarter worth $15,878,000. Jacobs Levy Equity Management Inc. lifted its stake in Udemy by 35.6% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,666,003 shares of the company’s stock worth $11,679,000 after purchasing an additional 437,769 shares during the last quarter. Federated Hermes Inc. lifted its stake in Udemy by 1.1% in the third quarter. Federated Hermes Inc. now owns 1,401,925 shares of the company’s stock worth $9,827,000 after purchasing an additional 15,657 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in Udemy by 57.4% during the third quarter. JPMorgan Chase & Co. now owns 1,108,057 shares of the company’s stock valued at $7,767,000 after buying an additional 404,100 shares during the period. 79.48% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Udemy news, CFO Sarah Blanchard sold 25,000 shares of the business’s 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 transaction, the chief financial officer owned 1,455,763 shares in the company, valued at approximately $6,958,547.14. The trade was a 1.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 3.20% of the company’s stock.

Wall Street Analyst Weigh In

UDMY has been the topic of a number of recent research reports. Weiss Ratings cut Udemy from a “sell (d)” rating to a “sell (e+)” rating in a research note on Monday, May 11th. Canaccord Genuity Group set a $5.00 target price on Udemy in a report on Monday, February 9th. Two investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Udemy currently has an average rating of “Hold” and a consensus price target of $8.80.

Udemy Price Performance

NASDAQ:UDMY opened at $4.63 on Tuesday. The company has a fifty day moving average of $4.72 and a 200 day moving average of $5.05. Udemy, Inc. has a 52 week low of $4.02 and a 52 week 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.

Udemy Profile

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.