EP Wealth Advisors LLC Invests $172,000 in Udemy, Inc. (NASDAQ:UDMY)

EP Wealth Advisors LLC acquired a new position in Udemy, Inc. (NASDAQ:UDMY) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 20,840 shares of the company’s stock, valued at approximately $172,000.

Several other institutional investors have also recently modified their holdings of the company. Federated Hermes Inc. grew its holdings in Udemy by 1,985.5% during the fourth quarter. Federated Hermes Inc. now owns 1,372,593 shares of the company’s stock worth $11,296,000 after acquiring an additional 1,306,778 shares during the period. Arrowstreet Capital Limited Partnership acquired a new stake in Udemy during the fourth quarter worth about $4,119,000. ExodusPoint Capital Management LP acquired a new stake in Udemy during the fourth quarter worth about $1,610,000. Royce & Associates LP grew its holdings in Udemy by 18.6% during the fourth quarter. Royce & Associates LP now owns 1,119,359 shares of the company’s stock worth $9,212,000 after acquiring an additional 175,300 shares during the period. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in Udemy during the fourth quarter worth about $1,087,000. 79.48% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Heather Hiles sold 14,840 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $9.81, for a total value of $145,580.40. Following the transaction, the director now owns 42,667 shares in the company, valued at $418,563.27. This trade represents a 25.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Gregory Scott Brown sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $9.43, for a total value of $94,300.00. Following the completion of the transaction, the chief executive officer now owns 1,141,896 shares in the company, valued at approximately $10,768,079.28. This trade represents a 0.87% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 105,168 shares of company stock worth $952,186 over the last quarter. 2.10% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

UDMY has been the topic of several analyst reports. Truist Financial reaffirmed a “hold” rating and set a $7.00 target price (down from $10.00) on shares of Udemy in a report on Monday, April 7th. Morgan Stanley dropped their target price on Udemy from $9.00 to $7.00 and set an “underweight” rating on the stock in a report on Wednesday, April 16th. JPMorgan Chase & Co. dropped their target price on Udemy from $11.00 to $8.00 and set a “neutral” rating on the stock in a report on Thursday, April 24th. Needham & Company LLC reissued a “buy” rating and issued a $11.00 price objective on shares of Udemy in a report on Thursday, May 1st. Finally, William Blair lowered Udemy from an “outperform” rating to a “market perform” rating in a report on Wednesday, March 12th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $9.86.

Udemy Price Performance

NASDAQ UDMY opened at $7.04 on Thursday. The company has a market cap of $1.05 billion, a PE ratio of -12.35 and a beta of 1.82. The stock’s 50 day simple moving average is $7.18 and its 200-day simple moving average is $7.96. Udemy, Inc. has a 1-year low of $5.68 and a 1-year high of $10.61.

Udemy (NASDAQ:UDMY) last released its earnings results on Wednesday, April 30th. The company reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.02. The business had revenue of $200.30 million for the quarter, compared to the consensus estimate of $197.19 million. Udemy had a negative return on equity of 27.93% and a negative net margin of 10.84%. The business’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.03 earnings per share. On average, equities research analysts anticipate that Udemy, Inc. will post -0.09 EPS for the current fiscal year.

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.