Northern Trust Corp Increases Position in Udemy, Inc. (NASDAQ:UDMY)

Northern Trust Corp raised its holdings in Udemy, Inc. (NASDAQ:UDMY) by 6.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 836,920 shares of the company’s stock after purchasing an additional 48,298 shares during the quarter. Northern Trust Corp owned 0.57% of Udemy worth $6,888,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its stake in shares of Udemy by 26.2% during the third quarter. JPMorgan Chase & Co. now owns 198,387 shares of the company’s stock worth $1,476,000 after buying an additional 41,145 shares during the period. Nisa Investment Advisors LLC increased its holdings in Udemy by 496.7% in the fourth quarter. Nisa Investment Advisors LLC now owns 7,220 shares of the company’s stock valued at $59,000 after buying an additional 6,010 shares in the last quarter. SG Americas Securities LLC boosted its position in shares of Udemy by 22.2% in the 4th quarter. SG Americas Securities LLC now owns 29,674 shares of the company’s stock worth $244,000 after buying an additional 5,384 shares in the last quarter. Falcon Wealth Planning acquired a new position in shares of Udemy in the fourth quarter worth $85,000. Finally, Handelsbanken Fonder AB grew its stake in Udemy by 45.2% in the 4th quarter. Handelsbanken Fonder AB now owns 15,100 shares of the company’s stock worth $124,000 after acquiring an additional 4,700 shares during the period. Institutional investors and hedge funds own 79.48% of the company’s stock.

Udemy Stock Performance

UDMY stock opened at $6.98 on Tuesday. Udemy, Inc. has a 52 week low of $5.68 and a 52 week high of $10.61. The company has a market capitalization of $1.04 billion, a PE ratio of -12.25 and a beta of 1.82. The company’s 50-day simple moving average is $7.08 and its 200 day simple moving average is $7.93.

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on UDMY. William Blair cut Udemy from an “outperform” rating to a “market perform” rating in a report on Wednesday, March 12th. Cantor Fitzgerald cut their target price on Udemy from $11.00 to $9.00 and set an “overweight” rating on the stock in a research note on Thursday, May 1st. Needham & Company LLC reaffirmed a “buy” rating and issued a $11.00 price target on shares of Udemy in a research note on Thursday, May 1st. Truist Financial reaffirmed a “hold” rating and set a $7.00 target price (down from $10.00) on shares of Udemy in a report on Monday, April 7th. Finally, JPMorgan Chase & Co. cut their target price on shares of Udemy from $11.00 to $8.00 and set a “neutral” rating for the company in a research report on Thursday, April 24th. 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 stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $9.86.

Insider Transactions at Udemy

In other news, Director Heather Hiles sold 14,840 shares of the business’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $9.81, for a total value of $145,580.40. Following the transaction, the director now directly owns 42,667 shares of the company’s stock, valued at $418,563.27. The trade was a 25.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Hugo Sarrazin acquired 5,432 shares of Udemy stock in a transaction on Thursday, May 15th. The stock was purchased at an average cost of $6.99 per share, with a total value of $37,969.68. Following the purchase, the chief executive officer now directly owns 8,832 shares of the company’s stock, valued at approximately $61,735.68. This trade represents a 159.76% increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 10,600 shares of company stock worth $74,076 and have sold 35,686 shares worth $326,848. 2.10% of the stock is owned by company insiders.

About Udemy

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.