Sea Cliff Partners Management LP Boosts Holdings in Udemy, Inc. (NASDAQ:UDMY)

Sea Cliff Partners Management LP boosted its stake in shares of Udemy, Inc. (NASDAQ:UDMY) by 27.9% during the second quarter, Holdings Channel reports. The fund owned 3,725,865 shares of the company’s stock after acquiring an additional 811,702 shares during the period. Udemy makes up approximately 11.0% of Sea Cliff Partners Management LP’s holdings, making the stock its 2nd biggest holding. Sea Cliff Partners Management LP’s holdings in Udemy were worth $32,154,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in UDMY. Charles Schwab Investment Management Inc. grew its holdings in Udemy by 3.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 689,768 shares of the company’s stock worth $10,160,000 after acquiring an additional 23,652 shares during the last quarter. Boulder Hill Capital Management LP acquired a new stake in shares of Udemy during the 4th quarter worth approximately $738,000. Premier Fund Managers Ltd acquired a new stake in shares of Udemy during the 4th quarter worth approximately $241,000. Quadrature Capital Ltd acquired a new stake in shares of Udemy during the 4th quarter worth approximately $939,000. Finally, Partners Group Holding AG acquired a new stake in shares of Udemy during the 4th quarter worth approximately $1,928,000. Institutional investors own 79.48% of the company’s stock.

Insider Buying and Selling

In other news, CFO Sarah Blanchard sold 45,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $8.05, for a total value of $362,250.00. Following the completion of the transaction, the chief financial officer now 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 Securities & Exchange Commission, which is accessible through this link. In other news, Director Eren Bali sold 15,000 shares of the firm’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 transaction of $136,500.00. Following the completion of the sale, the director now owns 1,639,477 shares of the company’s stock, valued at approximately $14,919,240.70. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Sarah Blanchard sold 45,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The stock was 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 approximately $8,064,176.05. The disclosure for this sale can be found here. Insiders sold 62,000 shares of company stock valued at $514,430 over the last quarter. 3.20% of the stock is owned by company insiders.

Udemy Stock Performance

Shares of UDMY opened at $8.13 on Friday. The firm’s 50 day moving average price is $7.99 and its two-hundred day moving average price is $9.03. The firm has a market cap of $1.22 billion, a P/E ratio of -15.34 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 released its quarterly earnings data on Wednesday, July 31st. The company reported ($0.20) EPS for the quarter, missing the consensus estimate 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 company had revenue of $194.36 million during the quarter, compared to analyst estimates of $194.17 million. On average, sell-side analysts anticipate that Udemy, Inc. will post -0.52 earnings per share for the current fiscal year.

Analyst Ratings Changes

UDMY has been the subject of several analyst reports. Cantor Fitzgerald upgraded shares of Udemy to a “strong-buy” rating in a research report on Tuesday, August 13th. Bank of America cut shares of Udemy from a “buy” rating to a “neutral” rating and set a $8.50 price target for the company. in a research report on Thursday, August 1st. Truist Financial reduced their price objective on shares of Udemy from $15.00 to $10.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. Morgan Stanley lowered shares of Udemy from an “equal weight” rating to an “underweight” rating and reduced their price objective for the stock from $10.00 to $7.50 in a research note on Friday. Finally, Robert W. Baird reduced 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. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Udemy currently has an average rating of “Moderate Buy” and an average price target of $11.92.

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.