Engineers Gate Manager LP Buys 19,506 Shares of Udemy, Inc. (NASDAQ:UDMY)

Engineers Gate Manager LP increased its stake in shares of Udemy, Inc. (NASDAQ:UDMY – Get Rating) by 175.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,648 shares of the company’s stock after buying an additional 19,506 shares during the quarter. Engineers Gate Manager LP’s holdings in Udemy were worth $371,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Bank of New York Mellon Corp grew its holdings in Udemy by 6.1% during the third quarter. Bank of New York Mellon Corp now owns 257,826 shares of the company’s stock worth $3,118,000 after buying an additional 14,831 shares in the last quarter. BlackRock Inc. grew its stake in Udemy by 16.9% in the 3rd quarter. BlackRock Inc. now owns 4,107,228 shares of the company’s stock valued at $49,657,000 after purchasing an additional 592,661 shares during the period. Royal Bank of Canada grew its stake in Udemy by 1,347.9% in the 3rd quarter. Royal Bank of Canada now owns 5,922 shares of the company’s stock valued at $71,000 after purchasing an additional 5,513 shares during the period. Point72 Hong Kong Ltd grew its stake in Udemy by 141.9% in the 3rd quarter. Point72 Hong Kong Ltd now owns 3,184 shares of the company’s stock valued at $38,000 after purchasing an additional 1,868 shares during the period. Finally, Renaissance Technologies LLC grew its stake in shares of Udemy by 131.8% during the 3rd quarter. Renaissance Technologies LLC now owns 24,800 shares of the company’s stock worth $300,000 after acquiring an additional 14,100 shares during the period. Institutional investors own 73.26% of the company’s stock.

Udemy Price Performance

Shares of NASDAQ UDMY opened at $9.13 on Tuesday. Udemy, Inc. has a 1 year low of $8.99 and a 1 year high of $17.26. The company’s 50-day moving average is $11.04 and its 200 day moving average is $12.72. The stock has a market capitalization of $1.33 billion, a P/E ratio of -8.45 and a beta of 1.80.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Truist Financial dropped their price objective on Udemy from $20.00 to $18.00 and set a “buy” rating on the stock in a report on Wednesday, February 15th. Piper Sandler dropped their price objective on Udemy from $14.50 to $12.00 and set a “neutral” rating on the stock in a report on Wednesday, February 15th. Robert W. Baird lowered their price target on Udemy from $16.00 to $15.00 and set an “outperform” rating on the stock in a report on Wednesday, February 15th. Cantor Fitzgerald lowered their price target on Udemy from $20.00 to $18.00 and set an “overweight” rating on the stock in a report on Wednesday, February 15th. Finally, Needham & Company LLC lowered their price target on Udemy from $17.00 to $16.00 and set a “buy” rating on the stock in a report on Wednesday, February 15th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $16.80.

Insiders Place Their Bets

In related news, CTO Venu Venugopal sold 2,480 shares of the stock in a transaction that occurred on Wednesday, December 21st. The shares were sold at an average price of $10.67, for a total transaction of $26,461.60. Following the transaction, the chief technology officer now owns 268,050 shares in the company, valued at $2,860,093.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, SVP Prasad Gune sold 4,672 shares of the stock in a transaction on Wednesday, December 21st. The shares were sold at an average price of $10.67, for a total value of $49,850.24. Following the completion of the sale, the senior vice president now directly owns 275,422 shares of the company’s stock, valued at $2,938,752.74. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CTO Venu Venugopal sold 2,480 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 transaction of $26,461.60. Following the completion of the sale, the chief technology officer now directly owns 268,050 shares of the company’s stock, valued at $2,860,093.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 724,558 shares of company stock worth $8,094,788. 39.20% of the stock is currently owned by company insiders.

About Udemy

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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.