Mirae Asset Global Investments Co. Ltd. Sells 6,211 Shares of Udemy, Inc. (NASDAQ:UDMY)

Mirae Asset Global Investments Co. Ltd. trimmed its holdings in shares of Udemy, Inc. (NASDAQ:UDMY) by 12.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 45,570 shares of the company’s stock after selling 6,211 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Udemy were worth $671,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. SG Americas Securities LLC boosted its stake in shares of Udemy by 317.5% in the 4th quarter. SG Americas Securities LLC now owns 41,883 shares of the company’s stock valued at $617,000 after purchasing an additional 31,850 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Udemy by 19.3% in the 3rd quarter. Vanguard Group Inc. now owns 8,860,490 shares of the company’s stock valued at $84,175,000 after purchasing an additional 1,433,980 shares during the last quarter. AXQ Capital LP bought a new stake in shares of Udemy in the 3rd quarter valued at $160,000. Corton Capital Inc. bought a new stake in shares of Udemy in the 3rd quarter valued at $171,000. Finally, Algert Global LLC bought a new stake in shares of Udemy in the 3rd quarter valued at $484,000. 79.48% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Eren Bali sold 15,000 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $10.97, for a total value of $164,550.00. Following the completion of the sale, the director now owns 1,676,050 shares in the company, valued at $18,386,268.50. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Director Eren Bali sold 15,000 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $10.97, for a total value of $164,550.00. Following the completion of the sale, the director now owns 1,676,050 shares in the company, valued at $18,386,268.50. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Gregory Scott Brown sold 10,000 shares of the stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $11.04, for a total transaction of $110,400.00. Following the completion of the sale, the chief executive officer now owns 1,163,328 shares of the company’s stock, valued at approximately $12,843,141.12. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 50,981 shares of company stock worth $570,044. Insiders own 3.20% of the company’s stock.

Udemy Trading Down 1.3 %

UDMY opened at $9.91 on Friday. The company’s fifty day moving average price is $10.73 and its two-hundred day moving average price is $12.28. Udemy, Inc. has a 1-year low of $8.17 and a 1-year high of $16.01. The company has a market cap of $1.52 billion, a price-to-earnings ratio of -13.76 and a beta of 2.14.

Udemy (NASDAQ:UDMY) last released its quarterly earnings data on Wednesday, February 14th. The company reported ($0.12) earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.04. Udemy had a negative net margin of 14.72% and a negative return on equity of 27.31%. The firm had revenue of $189.55 million for the quarter, compared to the consensus estimate of $185.71 million. As a group, equities analysts forecast that Udemy, Inc. will post -0.47 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently commented on UDMY shares. Piper Sandler reaffirmed a “neutral” rating and issued a $13.00 price objective on shares of Udemy in a research note on Thursday, February 15th. Truist Financial upped their price objective on shares of Udemy from $13.00 to $15.00 and gave the company a “buy” rating in a research note on Monday, January 22nd. Cantor Fitzgerald reissued an “overweight” rating and set a $20.00 target price on shares of Udemy in a research note on Thursday, February 15th. TheStreet lowered shares of Udemy from a “c-” rating to a “d+” rating in a research note on Wednesday, March 6th. Finally, Morgan Stanley cut their target price on shares of Udemy from $15.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Friday, April 19th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $14.78.

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.