Skandinaviska Enskilda Banken AB publ Makes New Investment in Udemy, Inc. (NASDAQ:UDMY)

Skandinaviska Enskilda Banken AB publ bought a new stake in Udemy, Inc. (NASDAQ:UDMY) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 100,000 shares of the company’s stock, valued at approximately $883,000. Skandinaviska Enskilda Banken AB publ owned about 0.07% of Udemy as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. NVP Associates LLC acquired a new stake in shares of Udemy in the fourth quarter valued at about $65,721,000. Vanguard Group Inc. raised its position in shares of Udemy by 17.2% in the third quarter. Vanguard Group Inc. now owns 5,424,381 shares of the company’s stock valued at $65,580,000 after buying an additional 797,005 shares during the last quarter. BlackRock Inc. increased its position in Udemy by 16.9% during the third quarter. BlackRock Inc. now owns 4,107,228 shares of the company’s stock worth $49,657,000 after purchasing an additional 592,661 shares during the last quarter. Geode Capital Management LLC increased its position in Udemy by 4.4% during the fourth quarter. Geode Capital Management LLC now owns 1,313,371 shares of the company’s stock worth $13,856,000 after purchasing an additional 54,847 shares during the last quarter. Finally, State Street Corp increased its position in Udemy by 16.8% during the third quarter. State Street Corp now owns 1,264,896 shares of the company’s stock worth $15,293,000 after purchasing an additional 182,127 shares during the last quarter. 76.75% of the stock is currently owned by institutional investors and hedge funds.

Udemy Price Performance

NASDAQ UDMY opened at $10.35 on Monday. The firm has a 50 day simple moving average of $10.78 and a 200-day simple moving average of $9.98. Udemy, Inc. has a one year low of $8.17 and a one year high of $17.26.

Udemy (NASDAQ:UDMY) last posted its quarterly earnings data on Thursday, August 3rd. The company reported ($0.16) EPS for the quarter, beating the consensus estimate of ($0.20) by $0.04. The business had revenue of $178.24 million during the quarter, compared to analyst estimates of $172.96 million. Udemy had a negative net margin of 24.93% and a negative return on equity of 45.67%. Equities research analysts expect that Udemy, Inc. will post -0.72 earnings per share for the current year.

Insider Activity at Udemy

In related news, Director Eren Bali sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, June 5th. The shares were sold at an average price of $10.77, for a total value of $161,550.00. Following the sale, the director now owns 1,781,648 shares of the company’s stock, valued at $19,188,348.96. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Udemy news, CEO Gregory Scott Brown sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $10.74, for a total transaction of $107,400.00. Following the sale, the chief executive officer now owns 1,150,806 shares of the company’s stock, valued at $12,359,656.44. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Eren Bali sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, June 5th. The stock was sold at an average price of $10.77, for a total transaction of $161,550.00. Following the sale, the director now directly owns 1,781,648 shares in the company, valued at approximately $19,188,348.96. The disclosure for this sale can be found here. Insiders have sold a total of 63,958 shares of company stock valued at $682,203 over the last 90 days. 6.20% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms recently issued reports on UDMY. Piper Sandler raised their price objective on shares of Udemy from $10.00 to $11.00 and gave the stock a “neutral” rating in a research report on Friday, August 4th. Needham & Company LLC cut their price objective on shares of Udemy from $16.00 to $15.00 and set a “buy” rating for the company in a research report on Friday, August 4th. Robert W. Baird cut their price objective on shares of Udemy from $15.00 to $11.00 in a research report on Thursday, May 4th. Truist Financial lowered their target price on shares of Udemy from $18.00 to $13.00 in a research note on Thursday, May 4th. Finally, Cantor Fitzgerald lowered their target price on shares of Udemy from $16.00 to $15.00 in a research note on Friday, August 4th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $13.50.

About Udemy

Udemy, Inc operates a marketplace platform for 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 59 million learners with access to approximately 2,00,000 courses through direct-to-consumer or Udemy Business offerings in approximately 75 languages.