Amundi Lowers Stock Holdings in Udemy, Inc. (NASDAQ:UDMY)

Amundi trimmed its stake in Udemy, Inc. (NASDAQ:UDMY) by 20.8% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 100,198 shares of the company’s stock after selling 26,357 shares during the period. Amundi’s holdings in Udemy were worth $868,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. SBI Securities Co. Ltd. bought a new stake in shares of Udemy in the 4th quarter valued at about $31,000. Point72 DIFC Ltd bought a new stake in shares of Udemy in the 3rd quarter valued at about $30,000. Handelsbanken Fonder AB raised its holdings in shares of Udemy by 45.2% in the 4th quarter. Handelsbanken Fonder AB now owns 15,100 shares of the company’s stock valued at $124,000 after purchasing an additional 4,700 shares in the last quarter. SG Americas Securities LLC raised its holdings in shares of Udemy by 22.2% in the 4th quarter. SG Americas Securities LLC now owns 29,674 shares of the company’s stock valued at $244,000 after purchasing an additional 5,384 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Udemy by 0.3% in the 3rd quarter. Geode Capital Management LLC now owns 2,216,868 shares of the company’s stock valued at $16,497,000 after purchasing an additional 5,972 shares in the last quarter. 79.48% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Udemy

In other news, CEO Gregory Scott Brown sold 10,000 shares of the stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $9.43, for a total transaction of $94,300.00. Following the transaction, the chief executive officer now owns 1,141,896 shares in the company, valued at $10,768,079.28. This trade represents a 0.87 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Ltd Naspers sold 3,200,000 shares of the stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $7.84, for a total value of $25,088,000.00. Following the transaction, the insider now owns 13,920,840 shares in the company, valued at $109,139,385.60. This trade represents a 18.69 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,304,322 shares of company stock worth $26,033,418 in the last 90 days. Corporate insiders own 3.20% of the company’s stock.

Udemy Price Performance

UDMY stock opened at $8.56 on Thursday. The firm’s fifty day simple moving average is $8.56 and its 200-day simple moving average is $8.24. The company has a market capitalization of $1.26 billion, a P/E ratio of -15.02 and a beta of 1.76. Udemy, Inc. has a 12 month low of $6.67 and a 12 month high of $11.60.

Udemy (NASDAQ:UDMY) last announced its quarterly earnings results on Thursday, February 13th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.10). Udemy had a negative return on equity of 27.93% and a negative net margin of 10.84%. The firm had revenue of $199.94 million for the quarter, compared to analysts’ expectations of $194.70 million. As a group, sell-side analysts forecast that Udemy, Inc. will post -0.09 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Morgan Stanley boosted their price objective on shares of Udemy from $7.50 to $9.00 and gave the stock an “underweight” rating in a research note on Thursday, February 20th. Scotiabank assumed coverage on shares of Udemy in a research note on Thursday, December 5th. They set a “sector outperform” rating and a $10.00 price objective for the company. Needham & Company LLC restated a “buy” rating and set a $11.00 price target on shares of Udemy in a research note on Wednesday, March 12th. Canaccord Genuity Group upped their price target on shares of Udemy from $12.00 to $14.00 and gave the company a “buy” rating in a research note on Friday, February 14th. Finally, William Blair lowered shares of Udemy from an “outperform” rating to a “market perform” rating in a research note on Wednesday, March 12th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Udemy currently has a consensus rating of “Moderate Buy” and an average target price of $10.95.

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.