Udemy, Inc. $UDMY Shares Purchased by Cwm LLC

Cwm LLC boosted its position in Udemy, Inc. (NASDAQ:UDMY) by 138.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 31,932 shares of the company’s stock after purchasing an additional 18,561 shares during the period. Cwm LLC’s holdings in Udemy were worth $224,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the company. 111 Capital lifted its position in Udemy by 27.6% in the second quarter. 111 Capital now owns 17,098 shares of the company’s stock valued at $120,000 after purchasing an additional 3,702 shares during the period. Janney Montgomery Scott LLC purchased a new position in Udemy in the second quarter valued at about $340,000. Counterpoint Mutual Funds LLC purchased a new position in Udemy in the second quarter valued at about $406,000. Wealth Enhancement Advisory Services LLC purchased a new position in Udemy in the second quarter valued at about $156,000. Finally, Harbor Capital Advisors Inc. increased its holdings in Udemy by 54.1% in the second quarter. Harbor Capital Advisors Inc. now owns 20,608 shares of the company’s stock valued at $145,000 after buying an additional 7,234 shares in the last quarter. Institutional investors and hedge funds own 79.48% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on UDMY shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $11.00 target price on shares of Udemy in a report on Thursday, July 31st. Wall Street Zen raised shares of Udemy from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 2nd. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Udemy in a report on Wednesday, October 8th. Cantor Fitzgerald increased their target price on shares of Udemy from $9.00 to $10.00 and gave the company an “overweight” rating in a report on Thursday, July 31st. Finally, Zacks Research cut shares of Udemy from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 2nd. Five analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Udemy has an average rating of “Hold” and an average price target of $9.75.

Udemy Price Performance

Shares of UDMY opened at $6.85 on Wednesday. The firm has a 50 day simple moving average of $6.89 and a 200-day simple moving average of $6.93. Udemy, Inc. has a 1-year low of $5.68 and a 1-year high of $10.61. The stock has a market cap of $1.03 billion, a price-to-earnings ratio of -32.62 and a beta of 1.76.

Udemy (NASDAQ:UDMY) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.04. The business had revenue of $199.88 million during the quarter, compared to analysts’ expectations of $196.74 million. Udemy had a negative net margin of 3.85% and a negative return on equity of 5.19%. The company’s revenue was up 2.8% on a year-over-year basis. During the same period last year, the company posted ($0.04) EPS. On average, equities analysts expect that Udemy, Inc. will post -0.09 earnings per share for the current fiscal year.

Udemy announced that its board has approved a stock buyback program on Wednesday, September 10th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the company to repurchase up to 5% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In other Udemy news, CFO Sarah Blanchard sold 25,000 shares of Udemy stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $7.08, for a total value of $177,000.00. Following the completion of the sale, the chief financial officer directly owned 1,287,953 shares of the company’s stock, valued at approximately $9,118,707.24. The trade was a 1.90% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 3.20% of the company’s stock.

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.