Wells Fargo & Company MN Buys 13,035 Shares of Udemy, Inc. (NASDAQ:UDMY)

Wells Fargo & Company MN raised its position in shares of Udemy, Inc. (NASDAQ:UDMY) by 42.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 43,486 shares of the company’s stock after purchasing an additional 13,035 shares during the period. Wells Fargo & Company MN’s holdings in Udemy were worth $358,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Udemy during the 4th quarter valued at approximately $4,119,000. ExodusPoint Capital Management LP purchased a new stake in shares of Udemy during the fourth quarter worth $1,610,000. Royce & Associates LP boosted its holdings in shares of Udemy by 18.6% in the fourth quarter. Royce & Associates LP now owns 1,119,359 shares of the company’s stock worth $9,212,000 after acquiring an additional 175,300 shares during the period. Barclays PLC grew its position in shares of Udemy by 360.6% in the third quarter. Barclays PLC now owns 155,719 shares of the company’s stock valued at $1,158,000 after purchasing an additional 121,911 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Udemy during the 4th quarter valued at $831,000. 79.48% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Udemy

In other Udemy news, CTO Eren Bali sold 69,482 shares of Udemy stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $9.00, for a total value of $625,338.00. Following the transaction, the chief technology officer now directly owns 2,156,050 shares of the company’s stock, valued at $19,404,450. The trade was a 3.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Gregory Scott Brown sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $9.43, for a total value of $94,300.00. Following the completion of the sale, the chief executive officer now owns 1,141,896 shares of the company’s stock, valued at $10,768,079.28. The trade was a 0.87 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 105,168 shares of company stock worth $952,186. 3.20% of the stock is currently owned by insiders.

Udemy Stock Down 2.8 %

UDMY opened at $6.31 on Tuesday. The business’s fifty day simple moving average is $7.56 and its 200 day simple moving average is $8.02. Udemy, Inc. has a 52 week low of $5.68 and a 52 week high of $10.61. The stock has a market cap of $938.49 million, a PE ratio of -11.07 and a beta of 1.82.

Udemy (NASDAQ:UDMY) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $0.12 EPS for the quarter, beating the consensus estimate of $0.10 by $0.02. The firm had revenue of $200.30 million for the quarter, compared to analyst estimates of $197.19 million. Udemy had a negative return on equity of 27.93% and a negative net margin of 10.84%. The company’s revenue was up 1.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.03 EPS. As a group, equities analysts anticipate that Udemy, Inc. will post -0.09 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Cantor Fitzgerald reduced their target price on Udemy from $11.00 to $9.00 and set an “overweight” rating for the company in a report on Thursday, May 1st. Morgan Stanley decreased their target price on shares of Udemy from $9.00 to $7.00 and set an “underweight” rating on the stock in a report on Wednesday, April 16th. William Blair downgraded shares of Udemy from an “outperform” rating to a “market perform” rating in a report on Wednesday, March 12th. Truist Financial reaffirmed a “hold” rating and issued a $7.00 price target (down previously from $10.00) on shares of Udemy in a report on Monday, April 7th. Finally, Needham & Company LLC reissued a “buy” rating and set a $11.00 price objective on shares of Udemy in a research note on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $9.86.

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.