Summit Trail Advisors LLC Makes New Investment in Udemy, Inc. (NASDAQ:UDMY)

Summit Trail Advisors LLC acquired a new position in Udemy, Inc. (NASDAQ:UDMY) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 18,565 shares of the company’s stock, valued at approximately $273,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Udemy by 19.3% during the third quarter. Vanguard Group Inc. now owns 8,860,490 shares of the company’s stock valued at $84,175,000 after purchasing an additional 1,433,980 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Udemy by 21.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 666,116 shares of the company’s stock valued at $6,328,000 after buying an additional 117,846 shares during the period. Federated Hermes Inc. bought a new stake in Udemy in the 4th quarter worth $3,303,000. Allspring Global Investments Holdings LLC purchased a new position in shares of Udemy in the fourth quarter valued at about $3,057,000. Finally, Swiss National Bank raised its stake in shares of Udemy by 2.0% during the third quarter. Swiss National Bank now owns 145,200 shares of the company’s stock valued at $1,379,000 after acquiring an additional 2,800 shares during the last quarter. Institutional investors own 79.48% of the company’s stock.

Udemy Trading Down 0.1 %

UDMY opened at $10.07 on Thursday. The firm’s 50 day simple moving average is $10.59 and its two-hundred day simple moving average is $12.33. The company has a market capitalization of $1.54 billion, a PE ratio of -19.00 and a beta of 2.12. Udemy, Inc. has a 1-year low of $8.46 and a 1-year high of $16.01.

Udemy (NASDAQ:UDMY) last released its quarterly earnings results on Wednesday, February 14th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.16) by $0.04. Udemy had a negative return on equity of 22.29% and a negative net margin of 10.82%. The business had revenue of $189.55 million during the quarter, compared to analyst estimates of $185.71 million. Equities analysts forecast that Udemy, Inc. will post -0.47 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on UDMY. Jefferies Financial Group reduced their price target on Udemy from $14.00 to $11.00 and set a “hold” rating on the stock in a report on Monday, April 29th. Robert W. Baird cut their price target on shares of Udemy from $15.00 to $13.00 and set an “outperform” rating on the stock in a report on Friday, May 3rd. Piper Sandler restated a “neutral” rating and issued a $13.00 price objective on shares of Udemy in a report on Thursday, February 15th. Truist Financial lifted their target price on shares of Udemy from $13.00 to $15.00 and gave the company a “buy” rating in a research note on Monday, January 22nd. Finally, Needham & Company LLC reiterated a “buy” rating and set a $15.00 price target on shares of Udemy in a research report on Friday, May 3rd. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $13.90.

Insiders Place Their Bets

In other news, Director Eren Bali sold 15,000 shares of the stock in a transaction on Monday, April 1st. The shares were sold at an average price of $10.96, for a total value of $164,400.00. Following the completion of the sale, the director now directly owns 1,661,050 shares of the company’s stock, valued at $18,205,108. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Eren Bali sold 15,000 shares of the stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $10.96, for a total transaction of $164,400.00. Following the completion of the sale, the director now owns 1,661,050 shares in the company, valued at $18,205,108. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Gregory Scott Brown sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $11.04, for a total value of $110,400.00. Following the completion of the transaction, the chief executive officer now directly owns 1,163,328 shares in the company, valued at $12,843,141.12. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 46,981 shares of company stock worth $514,884. Company insiders own 3.20% of the company’s stock.

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.