SG Americas Securities LLC Acquires 19,384 Shares of Udemy, Inc. (NASDAQ:UDMY)

SG Americas Securities LLC increased its holdings in Udemy, Inc. (NASDAQ:UDMY – Get Rating) by 83.9% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 42,478 shares of the company’s stock after purchasing an additional 19,384 shares during the period. SG Americas Securities LLC’s holdings in Udemy were worth $514,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of UDMY. Bank of New York Mellon Corp boosted its holdings in Udemy by 46.3% in the 1st quarter. Bank of New York Mellon Corp now owns 74,335 shares of the company’s stock worth $926,000 after buying an additional 23,527 shares during the period. Group One Trading L.P. purchased a new stake in Udemy in the 1st quarter worth approximately $100,000. Rhumbline Advisers lifted its stake in Udemy by 36.8% in the 1st quarter. Rhumbline Advisers now owns 15,856 shares of the company’s stock worth $198,000 after purchasing an additional 4,262 shares in the last quarter. Vanguard Group Inc. lifted its stake in Udemy by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 1,256,002 shares of the company’s stock worth $15,650,000 after purchasing an additional 15,141 shares in the last quarter. Finally, Ergoteles LLC purchased a new stake in Udemy in the 1st quarter worth approximately $417,000. 73.26% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on UDMY shares. JPMorgan Chase & Co. lowered their target price on shares of Udemy from $16.00 to $14.00 and set a “neutral” rating on the stock in a research note on Thursday, November 3rd. Piper Sandler increased their target price on shares of Udemy from $13.00 to $14.50 and gave the stock a “neutral” rating in a research note on Friday, November 4th. KeyCorp increased their target price on shares of Udemy from $16.00 to $19.00 and gave the stock an “overweight” rating in a research note on Friday, November 18th. Finally, Robert W. Baird lowered their target price on shares of Udemy from $20.00 to $16.00 in a research note on Monday, December 12th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $18.17.

Insider Buying and Selling

In related news, SVP Prasad Gune sold 4,672 shares of Udemy 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 transaction, the senior vice president now owns 275,422 shares in the company, valued at approximately $2,938,752.74. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Udemy news, CTO Venu Venugopal sold 5,177 shares of the firm’s stock in a transaction on Wednesday, December 14th. The shares were sold at an average price of $12.13, for a total value of $62,797.01. Following the sale, the chief technology officer now owns 270,530 shares of the company’s stock, valued at approximately $3,281,528.90. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Prasad Gune sold 4,672 shares of the firm’s stock in a transaction on Wednesday, December 21st. The stock was sold at an average price of $10.67, for a total transaction of $49,850.24. Following the completion of the sale, the senior vice president now directly owns 275,422 shares in the company, valued at approximately $2,938,752.74. The disclosure for this sale can be found here. Insiders have sold a total of 637,279 shares of company stock worth $7,232,557 in the last 90 days. 39.20% of the stock is owned by company insiders.

Udemy Stock Performance

Udemy stock opened at $11.47 on Wednesday. The firm’s fifty day moving average price is $12.19 and its 200-day moving average price is $13.24. The stock has a market cap of $1.62 billion, a P/E ratio of -10.62 and a beta of 1.61. Udemy, Inc. has a fifty-two week low of $9.47 and a fifty-two week high of $17.26.

Udemy (NASDAQ:UDMY – Get Rating) last posted its quarterly earnings data on Wednesday, November 2nd. The company reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.25) by ($0.07). The company had revenue of $158.43 million for the quarter, compared to analysts’ expectations of $155.18 million. Udemy had a negative net margin of 23.37% and a negative return on equity of 36.30%. On average, analysts predict that Udemy, Inc. will post -1.02 earnings per share for the current year.

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.