Sycomore Asset Management Lowers Holdings in Udemy, Inc. (NASDAQ:UDMY)

Sycomore Asset Management lowered its holdings in Udemy, Inc. (NASDAQ:UDMY) by 7.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 160,729 shares of the company’s stock after selling 13,416 shares during the quarter. Sycomore Asset Management owned 0.10% of Udemy worth $2,421,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. RIA Advisory Group LLC purchased a new position in shares of Udemy during the 4th quarter worth approximately $76,000. Federated Hermes Inc. acquired a new stake in shares of Udemy in the fourth quarter valued at $3,303,000. Daiwa Securities Group Inc. raised its holdings in shares of Udemy by 261.1% in the 4th quarter. Daiwa Securities Group Inc. now owns 4,730 shares of the company’s stock valued at $70,000 after buying an additional 3,420 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Udemy by 5.6% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,903 shares of the company’s stock worth $205,000 after acquiring an additional 732 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC acquired a new position in Udemy during the 4th quarter worth about $3,057,000. Institutional investors and hedge funds own 79.48% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on UDMY. JPMorgan Chase & Co. lifted their price objective on shares of Udemy from $11.00 to $12.00 and gave the company a “neutral” rating in a report on Thursday, February 15th. TheStreet cut Udemy from a “c-” rating to a “d+” rating in a research note on Wednesday, March 6th. Needham & Company LLC reissued a “buy” rating and set a $15.00 target price on shares of Udemy in a research note on Thursday, April 4th. Robert W. Baird lifted their price objective on Udemy from $15.00 to $17.00 and gave the company an “outperform” rating in a research note on Thursday, February 15th. Finally, Morgan Stanley cut their target price on shares of Udemy from $15.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Friday, April 19th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $14.78.

Udemy Stock Performance

NASDAQ UDMY traded down $0.17 during trading hours on Wednesday, hitting $10.04. The company had a trading volume of 483,679 shares, compared to its average volume of 896,686. The business has a 50 day moving average of $10.75 and a 200-day moving average of $12.30. Udemy, Inc. has a 1-year low of $8.17 and a 1-year high of $16.01. The company has a market cap of $1.54 billion, a PE ratio of -13.94 and a beta of 2.14.

Udemy (NASDAQ:UDMY) last announced its earnings results on Wednesday, February 14th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.04. The firm had revenue of $189.55 million during the quarter, compared to analysts’ expectations of $185.71 million. Udemy had a negative return on equity of 27.31% and a negative net margin of 14.72%. Sell-side analysts expect that Udemy, Inc. will post -0.47 earnings per share for the current fiscal year.

Insider Transactions at Udemy

In related news, CTO Venu Venugopal sold 6,981 shares of the stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $10.82, for a total transaction of $75,534.42. Following the completion of the sale, the chief technology officer now owns 334,319 shares in the company, valued at approximately $3,617,331.58. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Udemy news, CEO Gregory Scott Brown sold 10,000 shares of Udemy stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $11.04, for a total value of $110,400.00. Following the transaction, the chief executive officer now directly owns 1,163,328 shares in the company, valued at approximately $12,843,141.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Venu Venugopal sold 6,981 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $10.82, for a total value of $75,534.42. Following the completion of the transaction, the chief technology officer now directly owns 334,319 shares in the company, valued at approximately $3,617,331.58. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 50,981 shares of company stock worth $570,044. Insiders own 3.20% of the company’s stock.

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.