Udemy, Inc. $UDMY Shares Sold by Allianz Asset Management GmbH

Allianz Asset Management GmbH lessened its stake in Udemy, Inc. (NASDAQ:UDMY) by 26.7% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 33,418 shares of the company’s stock after selling 12,200 shares during the period. Allianz Asset Management GmbH’s holdings in Udemy were worth $235,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the stock. New York State Teachers Retirement System acquired a new position in Udemy during the 2nd quarter worth approximately $58,000. Hsbc Holdings PLC acquired a new position in Udemy during the 1st quarter worth approximately $82,000. Teacher Retirement System of Texas acquired a new position in Udemy during the 1st quarter worth approximately $97,000. CWM LLC increased its position in Udemy by 1,189.4% during the 1st quarter. CWM LLC now owns 13,371 shares of the company’s stock worth $104,000 after purchasing an additional 12,334 shares during the period. Finally, 111 Capital increased its position in Udemy by 27.6% during the 2nd quarter. 111 Capital now owns 17,098 shares of the company’s stock worth $120,000 after purchasing an additional 3,702 shares during the period. Institutional investors and hedge funds own 79.48% of the company’s stock.

Udemy Stock Performance

UDMY stock opened at $6.85 on Wednesday. Udemy, Inc. has a 1 year low of $5.68 and a 1 year high of $10.61. The stock’s 50 day moving average price is $6.89 and its 200 day moving average price is $6.93. The firm has a market cap of $1.03 billion, a P/E ratio of -32.62 and a beta of 1.76.

Udemy (NASDAQ:UDMY) last issued its quarterly earnings results 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. Udemy had a negative return on equity of 5.19% and a negative net margin of 3.85%.The company had revenue of $199.88 million for the quarter, compared to analyst estimates of $196.74 million. During the same quarter in the prior year, the company posted ($0.04) EPS. The business’s revenue for the quarter was up 2.8% compared to the same quarter last year. On average, research analysts predict that Udemy, Inc. will post -0.09 earnings per share for the current year.

Udemy declared that its board has approved a stock repurchase plan on Wednesday, September 10th that authorizes the company to repurchase $50.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 5% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

In other Udemy news, CFO Sarah Blanchard sold 25,000 shares of the company’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $7.08, for a total transaction of $177,000.00. Following the completion of the sale, the chief financial officer directly owned 1,287,953 shares in the company, valued at $9,118,707.24. This represents a 1.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 3.20% of the stock is owned by corporate insiders.

Analyst Ratings Changes

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

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.