Swiss National Bank Cuts Position in Udemy, Inc. (NASDAQ:UDMY)

Swiss National Bank reduced its stake in shares of Udemy, Inc. (NASDAQ:UDMY) by 8.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 133,300 shares of the company’s stock after selling 11,900 shares during the period. Swiss National Bank owned approximately 0.09% of Udemy worth $1,964,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Daiwa Securities Group Inc. boosted its holdings in Udemy by 261.1% during the fourth quarter. Daiwa Securities Group Inc. now owns 4,730 shares of the company’s stock worth $70,000 after buying an additional 3,420 shares in the last quarter. RIA Advisory Group LLC acquired a new stake in shares of Udemy in the 4th quarter worth approximately $76,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Udemy by 28.0% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,171 shares of the company’s stock valued at $125,000 after purchasing an additional 2,880 shares in the last quarter. AXQ Capital LP acquired a new position in Udemy during the third quarter worth $160,000. Finally, Corton Capital Inc. purchased a new stake in Udemy during the third quarter worth $171,000. 79.48% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Gregory Scott Brown sold 10,000 shares of Udemy stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $11.04, for a total transaction of $110,400.00. Following the sale, the chief executive officer now directly owns 1,163,328 shares of the company’s stock, valued at $12,843,141.12. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Gregory Scott Brown sold 10,000 shares of the company’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $11.04, for a total value of $110,400.00. Following the sale, the chief executive officer now directly owns 1,163,328 shares of the company’s stock, valued at $12,843,141.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Eren Bali sold 15,000 shares of the stock in a transaction on Friday, March 15th. The shares were sold at an average price of $10.97, for a total transaction of $164,550.00. Following the transaction, the director now owns 1,676,050 shares in the company, valued at $18,386,268.50. The disclosure for this sale can be found here. Insiders have sold 92,086 shares of company stock worth $938,281 in the last quarter. 3.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

UDMY has been the subject of several research reports. JPMorgan Chase & Co. lifted their price target on Udemy from $11.00 to $12.00 and gave the stock a “neutral” rating in a research note on Thursday, February 15th. Piper Sandler reissued a “neutral” rating and set a $13.00 price objective on shares of Udemy in a research note on Thursday, February 15th. Needham & Company LLC reaffirmed a “buy” rating and issued a $15.00 target price on shares of Udemy in a research note on Friday, May 3rd. TheStreet downgraded Udemy from a “c-” rating to a “d+” rating in a research report on Wednesday, March 6th. Finally, Morgan Stanley reduced their price objective on Udemy from $15.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Friday, April 19th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Udemy currently has an average rating of “Moderate Buy” and an average price target of $13.90.

Udemy Stock Performance

UDMY stock opened at $9.29 on Friday. The stock has a 50-day simple moving average of $10.31 and a 200-day simple moving average of $12.34. The firm has a market cap of $1.42 billion, a P/E ratio of -17.60 and a beta of 2.12. Udemy, Inc. has a 1 year low of $8.60 and a 1 year high of $16.01.

Udemy (NASDAQ:UDMY) last posted its quarterly earnings data on Thursday, May 2nd. The company reported ($0.11) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.02. The company had revenue of $196.85 million for the quarter, compared to analyst estimates of $194.83 million. Udemy had a negative net margin of 10.82% and a negative return on equity of 23.10%. On average, equities research analysts predict that Udemy, Inc. will post -0.45 EPS for the current year.

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.