Udemy, Inc. (NASDAQ:UDMY) Shares Acquired by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. increased its stake in Udemy, Inc. (NASDAQ:UDMY) by 1,814.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,678,641 shares of the company’s stock after purchasing an additional 2,538,728 shares during the quarter. Assenagon Asset Management S.A. owned about 1.80% of Udemy worth $20,786,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Federated Hermes Inc. lifted its holdings in Udemy by 1,985.5% in the fourth quarter. Federated Hermes Inc. now owns 1,372,593 shares of the company’s stock worth $11,296,000 after purchasing an additional 1,306,778 shares during the period. Royce & Associates LP lifted its holdings in Udemy by 18.6% in the fourth quarter. Royce & Associates LP now owns 1,119,359 shares of the company’s stock worth $9,212,000 after purchasing an additional 175,300 shares during the period. Northern Trust Corp lifted its holdings in Udemy by 6.1% in the fourth quarter. Northern Trust Corp now owns 836,920 shares of the company’s stock worth $6,888,000 after purchasing an additional 48,298 shares during the period. Millennium Management LLC acquired a new stake in Udemy in the fourth quarter worth about $5,911,000. Finally, Jacobs Levy Equity Management Inc. lifted its holdings in Udemy by 97.3% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 628,510 shares of the company’s stock worth $5,173,000 after purchasing an additional 310,003 shares during the period. Institutional investors and hedge funds own 79.48% of the company’s stock.

Udemy Trading Down 2.6%

UDMY stock opened at $7.15 on Friday. Udemy, Inc. has a one year low of $5.68 and a one year high of $10.61. The firm has a market capitalization of $1.06 billion, a PE ratio of -12.54 and a beta of 1.81. The firm has a 50-day moving average of $6.82 and a two-hundred day moving average of $7.83.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on UDMY shares. Needham & Company LLC reissued a “buy” rating and issued a $11.00 price target on shares of Udemy in a report on Thursday, May 1st. Robert W. Baird cut their price target on shares of Udemy from $13.00 to $11.00 and set an “outperform” rating for the company in a report on Thursday, May 1st. William Blair downgraded shares of Udemy from an “outperform” rating to a “market perform” rating in a report on Wednesday, March 12th. Truist Financial reissued a “hold” rating and issued a $7.00 price target (down from $10.00) on shares of Udemy in a report on Monday, April 7th. Finally, Morgan Stanley raised shares of Udemy from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $7.00 to $9.00 in a report on Thursday, June 5th. Five equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $10.05.

Insider Transactions at Udemy

In related news, CEO Hugo Sarrazin purchased 14,285 shares of Udemy stock in a transaction dated Tuesday, May 20th. The stock was acquired at an average cost of $7.00 per share, with a total value of $99,995.00. Following the completion of the transaction, the chief executive officer now directly owns 24,885 shares of the company’s stock, valued at $174,195. This trade represents a 134.76% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders purchased 47,580 shares of company stock valued at $330,894 over the last three months. 2.10% of the stock is owned by corporate insiders.

Udemy 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.