Barclays PLC Raises Stock Holdings in Udemy, Inc. (NASDAQ:UDMY)

Barclays PLC raised its position in shares of Udemy, Inc. (NASDAQ:UDMY) by 360.6% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 155,719 shares of the company’s stock after purchasing an additional 121,911 shares during the period. Barclays PLC’s holdings in Udemy were worth $1,158,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of UDMY. Sea Cliff Partners Management LP grew its holdings in Udemy by 27.9% in the second quarter. Sea Cliff Partners Management LP now owns 3,725,865 shares of the company’s stock worth $32,154,000 after purchasing an additional 811,702 shares during the period. Summit Trail Advisors LLC increased its position in Udemy by 939.8% during the 3rd quarter. Summit Trail Advisors LLC now owns 366,795 shares of the company’s stock valued at $2,729,000 after buying an additional 331,521 shares in the last quarter. Verition Fund Management LLC bought a new position in Udemy during the 3rd quarter valued at approximately $1,630,000. Algert Global LLC raised its stake in Udemy by 150.8% during the second quarter. Algert Global LLC now owns 238,672 shares of the company’s stock valued at $2,060,000 after buying an additional 143,498 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in Udemy by 106.5% in the third quarter. Assenagon Asset Management S.A. now owns 242,791 shares of the company’s stock worth $1,806,000 after acquiring an additional 125,235 shares in the last quarter. Institutional investors own 79.48% of the company’s stock.

Udemy Stock Performance

UDMY opened at $8.06 on Monday. The stock’s 50 day moving average price is $8.16 and its 200-day moving average price is $8.08. Udemy, Inc. has a one year low of $6.67 and a one year high of $15.10. The stock has a market cap of $1.18 billion, a price-to-earnings ratio of -12.79 and a beta of 1.91.

Udemy (NASDAQ:UDMY) last released its quarterly earnings data on Tuesday, October 29th. The company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.06. The company had revenue of $195.42 million during the quarter, compared to analysts’ expectations of $192.69 million. Udemy had a negative net margin of 12.33% and a negative return on equity of 29.36%. The firm’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period in the previous year, the company earned ($0.10) EPS. As a group, analysts predict that Udemy, Inc. will post -0.47 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently weighed in on UDMY. Scotiabank assumed coverage on Udemy in a report on Thursday, December 5th. They set a “sector outperform” rating and a $10.00 price target for the company. Cantor Fitzgerald decreased their target price on shares of Udemy from $18.00 to $11.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. Needham & Company LLC dropped their target price on shares of Udemy from $15.00 to $11.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. Finally, Morgan Stanley downgraded shares of Udemy from an “equal weight” rating to an “underweight” rating and reduced their price target for the company from $10.00 to $7.50 in a research report on Friday, September 27th. One analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $10.92.

Insider Buying and Selling

In other Udemy news, CTO Eren Bali sold 35,518 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $9.00, for a total transaction of $319,662.00. Following the transaction, the chief technology officer now owns 2,225,532 shares of the company’s stock, valued at approximately $20,029,788. This trade represents a 1.57 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Gregory Scott Brown sold 10,000 shares of the stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $8.50, for a total transaction of $85,000.00. Following the transaction, the chief executive officer now owns 1,203,727 shares in the company, valued at approximately $10,231,679.50. This represents a 0.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 55,518 shares of company stock valued at $491,762 over the last quarter. 3.20% of the stock is owned by corporate insiders.

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.