State Street Corp Has $14.39 Million Holdings in Udemy, Inc. (NASDAQ:UDMY)

State Street Corp grew its holdings in Udemy, Inc. (NASDAQ:UDMY) by 0.8% in the third quarter, Holdings Channel.com reports. The firm owned 1,934,473 shares of the company’s stock after purchasing an additional 15,339 shares during the period. State Street Corp’s holdings in Udemy were worth $14,392,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Sea Cliff Partners Management LP lifted its position in Udemy by 27.9% in the 2nd quarter. Sea Cliff Partners Management LP now owns 3,725,865 shares of the company’s stock worth $32,154,000 after buying an additional 811,702 shares in the last quarter. Summit Trail Advisors LLC increased its stake in shares of Udemy by 939.8% in the third quarter. Summit Trail Advisors LLC now owns 366,795 shares of the company’s stock worth $2,729,000 after acquiring an additional 331,521 shares during the last quarter. Verition Fund Management LLC purchased a new stake in shares of Udemy during the 3rd quarter worth about $1,630,000. Algert Global LLC lifted its holdings in shares of Udemy by 150.8% during the 2nd 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. raised its position in Udemy by 106.5% during the third quarter. Assenagon Asset Management S.A. now owns 242,791 shares of the company’s stock valued at $1,806,000 after acquiring an additional 125,235 shares in the last quarter. Hedge funds and other institutional investors own 79.48% of the company’s stock.

Udemy Trading Up 0.1 %

Shares of UDMY stock opened at $7.98 on Wednesday. The stock has a market capitalization of $1.16 billion, a price-to-earnings ratio of -12.67 and a beta of 1.91. Udemy, Inc. has a twelve month low of $6.67 and a twelve month high of $15.34. The stock has a fifty day simple moving average of $8.17 and a two-hundred day simple moving average of $8.10.

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

Insider Activity

In other Udemy news, CTO Eren Bali sold 35,518 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $9.00, for a total value of $319,662.00. Following the sale, the chief technology officer now owns 2,225,532 shares in the company, valued at approximately $20,029,788. This represents a 1.57 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Gregory Scott Brown sold 10,000 shares of the stock in a transaction on Friday, December 6th. The shares were sold at an average price of $8.71, for a total transaction of $87,100.00. Following the transaction, the chief executive officer now directly owns 1,183,086 shares in the company, valued at approximately $10,304,679.06. The trade was a 0.84 % 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 worth $491,762 over the last 90 days. 3.20% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

UDMY has been the subject of a number of research reports. Needham & Company LLC reduced their price target on shares of Udemy from $15.00 to $11.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. Scotiabank initiated coverage on Udemy in a research note on Thursday, December 5th. They issued a “sector outperform” rating and a $10.00 price target on the stock. Morgan Stanley cut 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 report on Friday, September 27th. Finally, Cantor Fitzgerald reduced their price target on Udemy from $18.00 to $11.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Udemy presently has a consensus rating of “Moderate Buy” and an average price target of $10.92.

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.