Versor Investments LP Invests $313,000 in Udemy, Inc. (NASDAQ:UDMY)

Versor Investments LP purchased a new stake in Udemy, Inc. (NASDAQ:UDMY) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 36,300 shares of the company’s stock, valued at approximately $313,000.

A number of other hedge funds have also bought and sold shares of the business. Sea Cliff Partners Management LP acquired a new position in shares of Udemy during the 4th quarter worth approximately $25,661,000. Inflection Point Investments LLP bought a new position in Udemy during the 4th quarter worth $21,390,000. Silvercrest Asset Management Group LLC acquired a new position in Udemy in the 1st quarter valued at $8,109,000. Invenomic Capital Management LP lifted its position in shares of Udemy by 22.9% during the 1st quarter. Invenomic Capital Management LP now owns 2,747,453 shares of the company’s stock valued at $30,167,000 after acquiring an additional 512,618 shares during the period. Finally, Vanguard Group Inc. grew its holdings in shares of Udemy by 5.6% during the 4th quarter. Vanguard Group Inc. now owns 9,355,870 shares of the company’s stock worth $137,812,000 after purchasing an additional 495,380 shares in the last quarter. 79.48% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Eren Bali sold 15,000 shares of Udemy stock in a transaction that occurred on 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 of the company’s stock, valued at $14,919,240.70. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Udemy news, CEO Gregory Scott Brown sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $8.50, for a total value of $85,000.00. Following the completion of the sale, the chief executive officer now owns 1,273,406 shares of the company’s stock, valued at $10,823,951. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Eren Bali sold 15,000 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $9.10, for a total value of $136,500.00. Following the sale, the director now owns 1,639,477 shares of the company’s stock, valued at approximately $14,919,240.70. The disclosure for this sale can be found here. Over the last quarter, insiders sold 73,400 shares of company stock valued at $611,340. Company insiders own 3.20% of the company’s stock.

Udemy Trading Up 0.5 %

Udemy stock opened at $8.14 on Friday. The stock has a 50-day moving average price of $8.15 and a two-hundred day moving average price of $9.34. Udemy, Inc. has a 12 month low of $6.67 and a 12 month high of $16.01. The company has a market capitalization of $1.22 billion, a PE ratio of -15.36 and a beta of 1.99.

Udemy (NASDAQ:UDMY) last issued its quarterly earnings data on Wednesday, July 31st. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.07). Udemy had a negative net margin of 11.39% and a negative return on equity of 26.62%. The business had revenue of $194.36 million during the quarter, compared to the consensus estimate of $194.17 million. As a group, analysts predict that Udemy, Inc. will post -0.52 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

UDMY has been the subject of a number of analyst reports. Canaccord Genuity Group assumed coverage on Udemy in a research note on Thursday, August 8th. They issued a “buy” rating and a $12.00 price target for the company. Needham & Company LLC reaffirmed a “buy” rating and set a $15.00 price target on shares of Udemy in a report on Thursday, August 1st. Robert W. Baird decreased their price objective on shares of Udemy from $13.00 to $11.00 and set an “outperform” rating on the stock in a research note on Thursday, August 1st. KeyCorp lowered their price objective on shares of Udemy from $14.00 to $13.00 and set an “overweight” rating for the company in a research report on Monday, July 22nd. Finally, Bank of America downgraded Udemy from a “buy” rating to a “neutral” rating and set a $8.50 target price on the stock. in a report on Thursday, August 1st. Five investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $12.38.

About Udemy

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.