Arrowstreet Capital Limited Partnership Decreases Stake in Udemy, Inc. $UDMY

Arrowstreet Capital Limited Partnership cut its holdings in shares of Udemy, Inc. (NASDAQ:UDMY) by 8.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,963,406 shares of the company’s stock after selling 174,524 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Udemy were worth $13,803,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently modified their holdings of the company. Janney Montgomery Scott LLC purchased a new position in shares of Udemy in the second quarter valued at $340,000. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Udemy by 109.1% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 504,823 shares of the company’s stock worth $3,549,000 after purchasing an additional 263,358 shares in the last quarter. Campbell & CO Investment Adviser LLC bought a new position in Udemy in the 2nd quarter worth about $668,000. Y Intercept Hong Kong Ltd grew its holdings in Udemy by 203.7% during the 2nd quarter. Y Intercept Hong Kong Ltd now owns 344,388 shares of the company’s stock valued at $2,421,000 after buying an additional 230,994 shares in the last quarter. Finally, Nuveen LLC purchased a new position in Udemy during the 1st quarter valued at about $1,718,000. Hedge funds and other institutional investors own 79.48% of the company’s stock.

Udemy Trading Up 0.4%

UDMY opened at $5.26 on Tuesday. The stock has a market capitalization of $769.96 million, a P/E ratio of -175.27 and a beta of 1.75. The stock has a 50-day moving average price of $5.87 and a 200-day moving average price of $6.64. Udemy, Inc. has a 12-month low of $4.86 and a 12-month high of $10.61.

Udemy (NASDAQ:UDMY) last announced its quarterly earnings data on Wednesday, October 29th. The company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.03. The company had revenue of $195.68 million for the quarter, compared to analysts’ expectations of $193.09 million. Udemy had a positive return on equity of 2.11% and a negative net margin of 0.47%.Udemy’s revenue for the quarter was up .1% compared to the same quarter last year. During the same period last year, the firm posted $0.07 EPS. On average, equities research analysts predict that Udemy, Inc. will post -0.09 EPS for the current year.

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

Insider Buying and Selling at Udemy

In other news, CFO Sarah Blanchard sold 25,000 shares of the company’s stock in a transaction 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 owned 1,287,953 shares of the company’s stock, valued at approximately $9,118,707.24. This represents a 1.90% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 3.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Wall Street Zen upgraded shares of Udemy from a “buy” rating to a “strong-buy” rating in a research report on Sunday. Canaccord Genuity Group reissued a “buy” rating and issued a $12.00 price target on shares of Udemy in a report on Thursday, October 30th. KeyCorp reduced their price target on shares of Udemy from $11.00 to $9.00 and set an “overweight” rating for the company in a research report on Thursday, October 30th. Zacks Research downgraded Udemy from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 28th. 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, October 30th. Five research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $9.63.

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.