Udemy, Inc. (NASDAQ:UDMY) Stock Position Raised by Invenomic Capital Management LP

Invenomic Capital Management LP increased its position in Udemy, Inc. (NASDAQ:UDMY) by 22.9% in the first quarter, HoldingsChannel reports. The firm owned 2,747,453 shares of the company’s stock after acquiring an additional 512,618 shares during the period. Udemy accounts for about 1.6% of Invenomic Capital Management LP’s investment portfolio, making the stock its 16th biggest holding. Invenomic Capital Management LP’s holdings in Udemy were worth $30,167,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Daiwa Securities Group Inc. grew its holdings in shares of Udemy by 261.1% during the fourth quarter. Daiwa Securities Group Inc. now owns 4,730 shares of the company’s stock valued at $70,000 after buying an additional 3,420 shares in the last quarter. RIA Advisory Group LLC acquired a new stake in Udemy during the 4th quarter worth about $76,000. Natixis grew its stake in Udemy by 60.8% during the 1st quarter. Natixis now owns 8,967 shares of the company’s stock valued at $99,000 after acquiring an additional 3,391 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of Udemy by 18.8% in the 1st quarter. Principal Financial Group Inc. now owns 12,053 shares of the company’s stock valued at $132,000 after purchasing an additional 1,904 shares during the period. Finally, ProShare Advisors LLC lifted its position in shares of Udemy by 10.7% in the first quarter. ProShare Advisors LLC now owns 16,109 shares of the company’s stock worth $177,000 after purchasing an additional 1,553 shares in the last quarter. 79.48% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Eren Bali sold 15,000 shares of the company’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $9.10, for a total transaction of $136,500.00. Following the completion of the sale, the director now directly owns 1,639,477 shares of the company’s stock, valued at approximately $14,919,240.70. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, Director Eren Bali sold 15,000 shares of Udemy stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $9.10, for a total value of $136,500.00. Following the transaction, the director now directly owns 1,639,477 shares in the company, valued at $14,919,240.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Gregory Scott Brown sold 10,000 shares of the business’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $8.50, for a total value of $85,000.00. Following the transaction, the chief executive officer now directly owns 1,273,406 shares of the company’s stock, valued at approximately $10,823,951. The disclosure for this sale can be found here. Insiders have sold a total of 79,486 shares of company stock valued at $740,941 over the last 90 days. 3.20% of the stock is currently owned by company insiders.

Udemy Stock Up 2.5 %

Shares of NASDAQ:UDMY traded up $0.22 on Tuesday, reaching $9.14. The company had a trading volume of 908,094 shares, compared to its average volume of 902,899. The stock has a market capitalization of $1.40 billion, a P/E ratio of -16.83 and a beta of 2.00. The stock has a 50-day moving average price of $8.59 and a 200 day moving average price of $10.43. Udemy, Inc. has a twelve month low of $7.91 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) earnings per share for the quarter, beating analysts’ consensus estimates 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.

Analyst Ratings Changes

UDMY has been the topic of several research reports. Morgan Stanley dropped their price objective on shares of Udemy from $15.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Friday, April 19th. Jefferies Financial Group dropped their price target on shares of Udemy from $14.00 to $11.00 and set a “hold” rating on the stock in a research note on Monday, April 29th. Robert W. Baird reduced their price objective on Udemy from $15.00 to $13.00 and set an “outperform” rating for the company in a research report on Friday, May 3rd. KeyCorp dropped their target price on Udemy from $14.00 to $13.00 and set an “overweight” rating on the stock in a research report on Monday, July 22nd. Finally, Needham & Company LLC reiterated a “buy” rating and set a $15.00 price target on shares of Udemy in a report on Friday, May 3rd. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $13.80.

Udemy 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.