Cresset Asset Management LLC Sells 165,133 Shares of Udemy, Inc. $UDMY

Cresset Asset Management LLC lowered its holdings in shares of Udemy, Inc. (NASDAQ:UDMY) by 15.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 926,652 shares of the company’s stock after selling 165,133 shares during the period. Cresset Asset Management LLC owned approximately 0.63% of Udemy worth $6,496,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. State of Alaska Department of Revenue bought a new position in shares of Udemy during the 3rd quarter worth approximately $56,000. Osaic Holdings Inc. acquired a new position in shares of Udemy during the 2nd quarter valued at $56,000. Prudential Financial Inc. bought a new position in Udemy during the second quarter worth $79,000. R Squared Ltd acquired a new stake in Udemy in the third quarter worth $84,000. Finally, Tower Research Capital LLC TRC increased its stake in Udemy by 339.4% in the second quarter. Tower Research Capital LLC TRC now owns 13,292 shares of the company’s stock valued at $93,000 after purchasing an additional 10,267 shares in the last quarter. 79.48% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Udemy

In other Udemy news, CFO Sarah Blanchard sold 25,000 shares of Udemy stock in a transaction on Monday, December 15th. The shares were sold at an average price of $5.25, for a total transaction of $131,250.00. Following the transaction, the chief financial officer directly owned 1,208,046 shares of the company’s stock, valued at $6,342,241.50. The trade was a 2.03% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.10% of the stock is owned by corporate insiders.

Udemy Stock Performance

Shares of UDMY opened at $4.87 on Friday. The stock has a 50 day moving average price of $5.11 and a two-hundred day moving average price of $5.83. The firm has a market capitalization of $708.20 million, a P/E ratio of 243.62 and a beta of 1.70. Udemy, Inc. has a 52 week low of $4.35 and a 52 week high of $9.65.

Udemy (NASDAQ:UDMY) last posted its earnings results on Thursday, February 5th. The company reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.02. Udemy had a return on equity of 4.84% and a net margin of 0.48%.The company had revenue of $193.99 million for the quarter, compared to analyst estimates of $193.40 million. During the same quarter last year, the company earned $0.10 earnings per share. The company’s revenue for the quarter was down 3.0% on a year-over-year basis. On average, equities analysts forecast that Udemy, Inc. will post -0.09 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on UDMY shares. Weiss Ratings restated a “sell (e+)” rating on shares of Udemy in a research note on Wednesday, January 21st. Wall Street Zen upgraded Udemy from a “buy” rating to a “strong-buy” rating in a report on Sunday, December 7th. Canaccord Genuity Group set a $5.00 price objective on Udemy in a research note on Monday, February 9th. Zacks Research lowered Udemy from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 28th. Finally, KeyCorp cut Udemy from an “overweight” rating to a “sector weight” rating in a report on Tuesday, January 13th. Three equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $8.75.

Udemy Profile

Udemy, Inc (NASDAQ: UDMY) operates a leading online learning marketplace that connects learners and instructors across a wide range of subject areas. The company’s platform hosts thousands of self-paced video courses covering technology, business, personal development, creative arts and more. Individual learners can purchase courses on demand, while instructors receive revenue share for teaching content to a global audience.

In addition to its consumer-facing marketplace, Udemy provides enterprise learning solutions under the Udemy for Business brand.