Cubist Systematic Strategies LLC Cuts Position in Udemy, Inc. (NASDAQ:UDMY)

Cubist Systematic Strategies LLC decreased its position in shares of Udemy, Inc. (NASDAQ:UDMY) by 5.0% during the second quarter, HoldingsChannel reports. The firm owned 389,164 shares of the company’s stock after selling 20,638 shares during the period. Cubist Systematic Strategies LLC’s holdings in Udemy were worth $3,358,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in UDMY. ProShare Advisors LLC increased its position in shares of Udemy by 10.7% during the 1st quarter. ProShare Advisors LLC now owns 16,109 shares of the company’s stock valued at $177,000 after purchasing an additional 1,553 shares during the last quarter. Principal Financial Group Inc. grew its position in Udemy by 18.8% during the first quarter. Principal Financial Group Inc. now owns 12,053 shares of the company’s stock valued at $132,000 after acquiring an additional 1,904 shares during the last quarter. Swiss National Bank raised its stake in shares of Udemy by 2.2% during the first quarter. Swiss National Bank now owns 136,200 shares of the company’s stock worth $1,495,000 after acquiring an additional 2,900 shares in the last quarter. Natixis lifted its holdings in shares of Udemy by 60.8% in the 1st quarter. Natixis now owns 8,967 shares of the company’s stock worth $99,000 after acquiring an additional 3,391 shares during the last quarter. Finally, Arizona State Retirement System lifted its stake in Udemy by 24.4% in the second quarter. Arizona State Retirement System now owns 23,597 shares of the company’s stock worth $204,000 after acquiring an additional 4,635 shares during the period. Institutional investors own 79.48% of the company’s stock.

Udemy Stock Down 5.9 %

UDMY stock opened at $7.65 on Friday. The business has a 50 day moving average of $7.98 and a 200 day moving average of $9.00. Udemy, Inc. has a twelve month low of $6.67 and a twelve month high of $16.01. The firm has a market cap of $1.15 billion, a PE ratio of -14.43 and a beta of 1.99.

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

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. 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 report on Friday, August 2nd. Needham & Company LLC reissued a “buy” rating and issued a $15.00 price target on shares of Udemy in a research note on Thursday, August 1st. Morgan Stanley lowered shares of Udemy from an “equal weight” rating to an “underweight” rating and lowered their price objective for the stock from $10.00 to $7.50 in a report on Friday. Robert W. Baird reduced their target price on Udemy from $13.00 to $11.00 and set an “outperform” rating on the stock in a report on Thursday, August 1st. Finally, KeyCorp lowered their target price on Udemy from $14.00 to $13.00 and set an “overweight” rating for the company in a research note on Monday, July 22nd. One research analyst has rated the stock with a sell rating, four have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $11.92.

Insider Buying and Selling

In other news, CFO Sarah Blanchard sold 45,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $8.05, for a total transaction of $362,250.00. Following the completion of the transaction, 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Sarah Blanchard sold 45,000 shares of the stock in a transaction 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 transaction, the chief financial officer now directly owns 1,001,761 shares of the company’s stock, valued at approximately $8,064,176.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Eren Bali sold 15,000 shares of the firm’s 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 completion of the transaction, the director now directly owns 1,639,477 shares in the company, valued at $14,919,240.70. The disclosure for this sale can be found here. In the last ninety days, insiders sold 62,000 shares of company stock worth $514,430. 3.20% of the stock is owned by corporate insiders.

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.