Udemy, Inc. (NASDAQ:UDMY) Stock Position Raised by Bank of New York Mellon Corp

Bank of New York Mellon Corp lifted its position in Udemy, Inc. (NASDAQ:UDMY) by 18.1% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 330,044 shares of the company’s stock after acquiring an additional 50,473 shares during the quarter. Bank of New York Mellon Corp’s holdings in Udemy were worth $2,848,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Natixis lifted its stake in shares of Udemy by 60.8% in the 1st quarter. Natixis now owns 8,967 shares of the company’s stock valued at $99,000 after purchasing an additional 3,391 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of Udemy by 18.8% during the 1st quarter. Principal Financial Group Inc. now owns 12,053 shares of the company’s stock worth $132,000 after purchasing an additional 1,904 shares during the period. ProShare Advisors LLC increased its stake in Udemy by 10.7% in the first quarter. ProShare Advisors LLC now owns 16,109 shares of the company’s stock valued at $177,000 after acquiring an additional 1,553 shares during the period. Seven Post Investment Office LP bought a new stake in Udemy in the first quarter valued at about $208,000. Finally, Premier Fund Managers Ltd bought a new stake in Udemy in the fourth quarter valued at about $241,000. Hedge funds and other institutional investors own 79.48% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on UDMY shares. Truist Financial reduced their price target on shares of Udemy from $15.00 to $10.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. Robert W. Baird dropped their price target on shares of Udemy from $13.00 to $11.00 and set an “outperform” rating for the company in a research note on Thursday, August 1st. Canaccord Genuity Group assumed coverage on shares of Udemy in a research note on Thursday, August 8th. They set a “buy” rating and a $12.00 price target for the company. Canaccord Genuity Group began coverage on shares of Udemy in a research note on Thursday, August 8th. They issued a “buy” rating and a $12.00 target price for the company. Finally, Bank of America downgraded shares of Udemy from a “buy” rating to a “neutral” rating and set a $8.50 price objective for the company. in a research report on Thursday, August 1st. Five analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Udemy presently has an average rating of “Moderate Buy” and a consensus target price of $12.38.

Insider Buying and Selling

In related news, CEO Gregory Scott Brown sold 10,000 shares of the business’s stock in a transaction dated Friday, June 28th. The shares were 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Udemy news, CFO Sarah Blanchard sold 45,000 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $8.05, for a total transaction of $362,250.00. Following the sale, the chief financial officer now directly owns 1,001,761 shares of the company’s stock, valued at $8,064,176.05. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Gregory Scott Brown sold 10,000 shares of the company’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $8.50, for a total transaction of $85,000.00. Following the sale, the chief executive officer now directly owns 1,273,406 shares in the company, valued at $10,823,951. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 72,000 shares of company stock valued at $599,430. 3.20% of the stock is owned by insiders.

Udemy Stock Up 2.5 %

NASDAQ:UDMY opened at $8.07 on Monday. The company has a fifty day moving average of $8.06 and a 200-day moving average of $9.18. The firm has a market capitalization of $1.24 billion, a P/E ratio of -15.23 and a beta of 1.99. Udemy, Inc. has a twelve month low of $6.67 and a twelve month high of $16.01.

Udemy (NASDAQ:UDMY) last announced its quarterly earnings results on Wednesday, July 31st. The company reported ($0.20) 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 for the quarter, compared to the consensus estimate of $194.17 million. On average, analysts anticipate that Udemy, Inc. will post -0.52 EPS for the current fiscal year.

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.