Teacher Retirement System of Texas Takes Position in Udemy, Inc. (NASDAQ:UDMY)

Teacher Retirement System of Texas bought a new stake in Udemy, Inc. (NASDAQ:UDMY) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 12,549 shares of the company’s stock, valued at approximately $97,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. MetLife Investment Management LLC raised its stake in shares of Udemy by 6.2% during the 4th quarter. MetLife Investment Management LLC now owns 59,465 shares of the company’s stock worth $489,000 after buying an additional 3,450 shares during the last quarter. Quarry LP purchased a new stake in shares of Udemy in the fourth quarter valued at about $34,000. Price T Rowe Associates Inc. MD grew its position in shares of Udemy by 14.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 36,064 shares of the company’s stock valued at $297,000 after purchasing an additional 4,418 shares during the last quarter. Vega Investment Solutions acquired a new position in shares of Udemy during the 4th quarter worth approximately $46,000. Finally, GAMMA Investing LLC grew its holdings in Udemy by 558.3% during the 1st quarter. GAMMA Investing LLC now owns 6,945 shares of the company’s stock valued at $54,000 after buying an additional 5,890 shares during the last quarter. 79.48% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Udemy

In other Udemy news, CFO Sarah Blanchard sold 25,000 shares of Udemy stock in a transaction on Friday, June 13th. The shares were sold at an average price of $6.99, for a total transaction of $174,750.00. Following the completion of the transaction, the chief financial officer directly owned 1,077,097 shares of the company’s stock, valued at $7,528,908.03. The trade was a 2.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Hugo Sarrazin bought 22,695 shares of the firm’s stock in a transaction on Wednesday, May 21st. The stock was purchased at an average cost of $6.91 per share, for a total transaction of $156,822.45. Following the completion of the acquisition, the chief executive officer owned 47,580 shares in the company, valued at approximately $328,777.80. This trade represents a 91.20% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 47,580 shares of company stock valued at $330,894 over the last three months. Insiders own 3.20% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on UDMY shares. Truist Financial restated a “hold” rating and set a $7.00 price target (down from $10.00) on shares of Udemy in a research note on Monday, April 7th. Wall Street Zen downgraded shares of Udemy from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 12th. Morgan Stanley raised shares of Udemy from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $7.00 to $9.00 in a research note on Thursday, June 5th. Cantor Fitzgerald lowered their price target on Udemy from $11.00 to $9.00 and set an “overweight” rating for the company in a report on Thursday, May 1st. Finally, JPMorgan Chase & Co. reduced their price objective on Udemy from $11.00 to $8.00 and set a “neutral” rating on the stock in a research note on Thursday, April 24th. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Udemy currently has an average rating of “Moderate Buy” and an average target price of $10.05.

Udemy Stock Up 3.7%

Shares of UDMY opened at $7.25 on Tuesday. Udemy, Inc. has a 12 month low of $5.68 and a 12 month high of $10.61. The stock has a market cap of $1.08 billion, a price-to-earnings ratio of -15.76 and a beta of 1.77. The company has a 50-day moving average price of $7.08 and a two-hundred day moving average price of $7.59.

Udemy (NASDAQ:UDMY) last issued its earnings results on Wednesday, April 30th. The company reported $0.12 EPS for the quarter, beating the consensus estimate of $0.10 by $0.02. The company had revenue of $200.30 million during the quarter, compared to analysts’ expectations of $197.19 million. Udemy had a negative net margin of 8.70% and a negative return on equity of 22.68%. The business’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.03 EPS. Equities research analysts expect that Udemy, Inc. will post -0.09 EPS for the current fiscal year.

Udemy Company 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.