Ariadne Wealth Management LP Purchases New Position in Udemy, Inc. (NASDAQ:UDMY)

Ariadne Wealth Management LP purchased a new stake in Udemy, Inc. (NASDAQ:UDMY) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 7,757 shares of the company’s stock, valued at approximately $67,000.

A number of other hedge funds also recently bought and sold shares of the stock. ProShare Advisors LLC lifted its holdings in Udemy by 10.7% during the first quarter. ProShare Advisors LLC now owns 16,109 shares of the company’s stock worth $177,000 after buying an additional 1,553 shares during the period. Principal Financial Group Inc. lifted its holdings in Udemy by 18.8% during the first quarter. Principal Financial Group Inc. now owns 12,053 shares of the company’s stock worth $132,000 after buying an additional 1,904 shares during the period. Swiss National Bank lifted its holdings in Udemy by 2.2% during the first quarter. Swiss National Bank now owns 136,200 shares of the company’s stock worth $1,495,000 after buying an additional 2,900 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in Udemy by 6.9% during the second quarter. The Manufacturers Life Insurance Company now owns 51,780 shares of the company’s stock worth $447,000 after buying an additional 3,336 shares during the period. Finally, Natixis lifted its holdings in Udemy by 60.8% during the first quarter. Natixis now owns 8,967 shares of the company’s stock worth $99,000 after buying an additional 3,391 shares during the period. Hedge funds and other institutional investors own 79.48% of the company’s stock.

Insider Buying and Selling at Udemy

In other Udemy news, Director Eren Bali sold 15,000 shares of Udemy stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $9.10, for a total transaction of $136,500.00. Following the completion of the transaction, the director now owns 1,639,477 shares in the company, valued at approximately $14,919,240.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Udemy news, Director Eren Bali sold 15,000 shares of Udemy stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $9.10, for a total transaction of $136,500.00. Following the completion of the transaction, the director now owns 1,639,477 shares in the company, valued at approximately $14,919,240.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Sarah Blanchard sold 45,000 shares of Udemy stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $8.05, for a total value of $362,250.00. Following the transaction, the chief financial officer now owns 1,001,761 shares of the company’s stock, valued at approximately $8,064,176.05. The disclosure for this sale can be found here. In the last quarter, insiders sold 61,000 shares of company stock worth $505,830. Insiders own 3.20% of the company’s stock.

Udemy Price Performance

NASDAQ UDMY opened at $7.33 on Wednesday. The stock’s fifty day moving average price is $7.95 and its 200 day moving average price is $8.95. Udemy, Inc. has a 1 year low of $6.67 and a 1 year high of $16.01. The company has a market cap of $1.10 billion, a price-to-earnings ratio of -13.83 and a beta of 1.99.

Udemy (NASDAQ:UDMY) last released its earnings results on Wednesday, July 31st. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.07). The firm had revenue of $194.36 million during the quarter, compared to analyst estimates of $194.17 million. Udemy had a negative net margin of 11.39% and a negative return on equity of 26.62%. Research analysts expect that Udemy, Inc. will post -0.52 earnings per share for the current year.

Analysts Set New Price Targets

UDMY has been the subject of a number of analyst reports. Morgan Stanley lowered Udemy from an “equal weight” rating to an “underweight” rating and lowered their target price for the stock from $10.00 to $7.50 in a report on Friday, September 27th. Bank of America downgraded Udemy from a “buy” rating to a “neutral” rating and set a $8.50 price target on the stock. in a research report on Thursday, August 1st. Robert W. Baird reduced their price target on Udemy from $13.00 to $11.00 and set an “outperform” rating on the stock in a research report on Thursday, August 1st. Truist Financial reduced their price target on Udemy from $15.00 to $10.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. Finally, Canaccord Genuity Group began coverage on Udemy in a research report on Thursday, August 8th. They set a “buy” rating and a $12.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $11.92.

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.