Trexquant Investment LP Acquires New Position in Udemy, Inc. (NASDAQ:UDMY)

Trexquant Investment LP acquired a new stake in shares of Udemy, Inc. (NASDAQ:UDMY) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 177,792 shares of the company’s stock, valued at approximately $2,619,000.

Several other institutional investors have also recently modified their holdings of UDMY. Daiwa Securities Group Inc. lifted its stake in shares of Udemy by 261.1% in the 4th quarter. Daiwa Securities Group Inc. now owns 4,730 shares of the company’s stock valued at $70,000 after purchasing an additional 3,420 shares during the last quarter. RIA Advisory Group LLC acquired a new position in shares of Udemy in the fourth quarter worth about $76,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Udemy by 28.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,171 shares of the company’s stock valued at $125,000 after purchasing an additional 2,880 shares during the last quarter. AXQ Capital LP acquired a new stake in Udemy in the third quarter worth approximately $160,000. Finally, Corton Capital Inc. purchased a new stake in shares of Udemy in the third quarter valued at $171,000. 79.48% of the stock is currently owned by hedge funds and other institutional investors.

Udemy Stock Up 1.3 %

Shares of NASDAQ:UDMY traded up $0.12 on Friday, reaching $9.29. The company had a trading volume of 785,766 shares, compared to its average volume of 946,433. The stock has a 50-day moving average price of $10.28 and a 200 day moving average price of $12.32. The stock has a market capitalization of $1.42 billion, a P/E ratio of -17.53 and a beta of 2.12. Udemy, Inc. has a twelve month low of $8.60 and a twelve month high of $16.01.

Udemy (NASDAQ:UDMY) last issued its quarterly earnings data on Thursday, May 2nd. The company reported ($0.11) EPS for the quarter, topping the consensus estimate of ($0.13) by $0.02. Udemy had a negative return on equity of 23.10% and a negative net margin of 10.82%. The business had revenue of $196.85 million for the quarter, compared to the consensus estimate of $194.83 million. On average, sell-side analysts predict that Udemy, Inc. will post -0.45 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Eren Bali sold 15,000 shares of Udemy stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $10.97, for a total value of $164,550.00. Following the completion of the transaction, the director now directly owns 1,676,050 shares in the company, valued at approximately $18,386,268.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Eren Bali sold 15,000 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $10.97, for a total transaction of $164,550.00. Following the sale, the director now owns 1,676,050 shares of the company’s stock, valued at $18,386,268.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Venu Venugopal sold 7,086 shares of the company’s stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $9.89, for a total transaction of $70,080.54. Following the sale, the chief technology officer now directly owns 429,927 shares of the company’s stock, valued at $4,251,978.03. The disclosure for this sale can be found here. In the last ninety days, insiders sold 92,086 shares of company stock worth $938,281. Company insiders own 3.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on UDMY. Jefferies Financial Group lowered their price target on shares of Udemy from $14.00 to $11.00 and set a “hold” rating for the company in a report on Monday, April 29th. KeyCorp cut their price target on shares of Udemy from $15.00 to $14.00 and set an “overweight” rating on the stock in a report on Friday, May 3rd. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $20.00 target price on shares of Udemy in a report on Friday, May 3rd. JPMorgan Chase & Co. upped their price objective on shares of Udemy from $11.00 to $12.00 and gave the stock a “neutral” rating in a report on Thursday, February 15th. Finally, Robert W. Baird dropped their price objective 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. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Udemy currently has a consensus rating of “Moderate Buy” and a consensus price target of $13.90.

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.