Royce & Associates LP Purchases 175,300 Shares of Udemy, Inc. (NASDAQ:UDMY)

Royce & Associates LP increased its position in shares of Udemy, Inc. (NASDAQ:UDMY) by 18.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,119,359 shares of the company’s stock after acquiring an additional 175,300 shares during the quarter. Royce & Associates LP owned about 0.77% of Udemy worth $9,212,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Barclays PLC lifted its position in Udemy by 360.6% during the 3rd quarter. Barclays PLC now owns 155,719 shares of the company’s stock valued at $1,158,000 after purchasing an additional 121,911 shares during the period. Verition Fund Management LLC acquired a new position in Udemy in the third quarter valued at approximately $1,630,000. SBI Securities Co. Ltd. bought a new position in Udemy in the fourth quarter valued at approximately $31,000. Algert Global LLC grew its holdings in Udemy by 45.0% during the 3rd quarter. Algert Global LLC now owns 346,062 shares of the company’s stock worth $2,575,000 after acquiring an additional 107,390 shares during the period. Finally, JPMorgan Chase & Co. raised its position in shares of Udemy by 26.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 198,387 shares of the company’s stock valued at $1,476,000 after acquiring an additional 41,145 shares during the last quarter. Institutional investors own 79.48% of the company’s stock.

Insider Transactions at Udemy

In other news, major shareholder Ltd Naspers sold 3,200,000 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $7.84, for a total value of $25,088,000.00. Following the completion of the transaction, the insider now owns 13,920,840 shares in the company, valued at $109,139,385.60. This trade represents a 18.69 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Gregory Scott Brown sold 10,000 shares of Udemy stock in a transaction dated 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 sale, the chief executive officer now directly owns 1,141,896 shares in the company, valued at approximately $10,768,079.28. This represents a 0.87 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 3,304,322 shares of company stock valued at $26,033,418 in the last ninety days. 3.20% of the stock is currently owned by corporate insiders.

Udemy Trading Up 0.4 %

Shares of NASDAQ UDMY opened at $8.42 on Wednesday. The company has a fifty day moving average price of $8.56 and a 200 day moving average price of $8.24. The firm has a market cap of $1.24 billion, a PE ratio of -14.77 and a beta of 1.76. Udemy, Inc. has a 1-year low of $6.67 and a 1-year high of $11.60.

Udemy (NASDAQ:UDMY) last posted its quarterly earnings data on Thursday, February 13th. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.10). Udemy had a negative return on equity of 27.93% and a negative net margin of 10.84%. The firm had revenue of $199.94 million for the quarter, compared to analyst estimates of $194.70 million. Equities research analysts forecast that Udemy, Inc. will post -0.09 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Needham & Company LLC restated a “buy” rating and issued a $11.00 price target on shares of Udemy in a research report on Wednesday, March 12th. Scotiabank began coverage on Udemy in a research report on Thursday, December 5th. They set a “sector outperform” rating and a $10.00 target price for the company. Morgan Stanley lifted their price objective on shares of Udemy from $7.50 to $9.00 and gave the stock an “underweight” rating in a research note on Thursday, February 20th. William Blair downgraded shares of Udemy from an “outperform” rating to a “market perform” rating in a research note on Wednesday, March 12th. Finally, Canaccord Genuity Group increased their target price on shares of Udemy from $12.00 to $14.00 and gave the stock a “buy” rating in a report on Friday, February 14th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, Udemy currently has a consensus rating of “Moderate Buy” and an average price target of $10.95.

Udemy Company 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.