Tower Research Capital LLC TRC Boosts Stock Holdings in Udemy, Inc. (NASDAQ:UDMY)

Tower Research Capital LLC TRC boosted its position in Udemy, Inc. (NASDAQ:UDMY – Get Rating) by 121.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 23,762 shares of the company’s stock after purchasing an additional 13,047 shares during the period. Tower Research Capital LLC TRC’s holdings in Udemy were worth $288,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the company. Summit Trail Advisors LLC purchased a new position in Udemy in the third quarter valued at approximately $4,039,000. Aigen Investment Management LP purchased a new position in Udemy in the third quarter valued at approximately $293,000. IFP Advisors Inc purchased a new position in Udemy in the third quarter valued at approximately $32,000. Virtu Financial LLC lifted its stake in Udemy by 42.4% in the third quarter. Virtu Financial LLC now owns 16,582 shares of the company’s stock valued at $200,000 after purchasing an additional 4,935 shares during the last quarter. Finally, Vontobel Holding Ltd. purchased a new position in Udemy in the third quarter valued at approximately $161,000. Hedge funds and other institutional investors own 73.26% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Morgan Stanley dropped their target price on Udemy from $16.00 to $15.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 15th. Cantor Fitzgerald dropped their target price on Udemy from $20.00 to $18.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 15th. KeyCorp dropped their target price on Udemy from $19.00 to $15.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 15th. Needham & Company LLC dropped their target price on Udemy from $17.00 to $16.00 and set a “buy” rating on the stock in a research report on Wednesday, February 15th. Finally, JPMorgan Chase & Co. dropped their target price on Udemy from $16.00 to $14.00 and set a “neutral” rating on the stock in a research report on Thursday, November 3rd. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $16.80.

Udemy Stock Performance

Udemy stock opened at $9.14 on Thursday. The stock has a market cap of $1.29 billion, a P/E ratio of -8.58 and a beta of 1.74. Udemy, Inc. has a fifty-two week low of $9.12 and a fifty-two week high of $17.26. The firm’s fifty day moving average price is $11.20 and its 200-day moving average price is $13.06.

Insider Transactions at Udemy

In related news, CTO Venu Venugopal sold 4,897 shares of the stock in a transaction on Monday, February 27th. The stock was sold at an average price of $9.76, for a total value of $47,794.72. Following the transaction, the chief technology officer now owns 250,067 shares of the company’s stock, valued at $2,440,653.92. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, SVP Prasad Gune sold 4,672 shares of the stock in a transaction on Wednesday, December 21st. The stock was sold at an average price of $10.67, for a total value of $49,850.24. Following the transaction, the senior vice president now owns 275,422 shares of the company’s stock, valued at $2,938,752.74. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CTO Venu Venugopal sold 4,897 shares of the stock in a transaction on Monday, February 27th. The shares were sold at an average price of $9.76, for a total value of $47,794.72. Following the completion of the transaction, the chief technology officer now directly owns 250,067 shares in the company, valued at approximately $2,440,653.92. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 709,558 shares of company stock valued at $7,946,288. 39.20% of the stock is currently owned by company insiders.

Udemy Company Profile

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Udemy, Inc operates a marketplace platform for teaching and learning skills in the United States and internationally. The company offers technical and business skills, and personal development courses for individual learners and enterprise customers. Its platform provides 49 million learners with access to approximately 180,000 courses through direct-to-consumer or Udemy Business offerings in approximately 75 languages.