Summit Trail Advisors LLC Buys Shares of 18,565 Udemy, Inc. (NASDAQ:UDMY)

Summit Trail Advisors LLC acquired a new stake in Udemy, Inc. (NASDAQ:UDMY) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 18,565 shares of the company’s stock, valued at approximately $273,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Venturi Wealth Management LLC purchased a new position in Udemy during the 3rd quarter valued at about $29,000. Daiwa Securities Group Inc. boosted its stake in shares of Udemy by 261.1% in the fourth quarter. Daiwa Securities Group Inc. now owns 4,730 shares of the company’s stock valued at $70,000 after purchasing an additional 3,420 shares during the period. RIA Advisory Group LLC acquired a new position in shares of Udemy in the fourth quarter valued at approximately $76,000. SG Americas Securities LLC acquired a new position in shares of Udemy in the third quarter valued at approximately $95,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Udemy by 28.0% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,171 shares of the company’s stock worth $125,000 after buying an additional 2,880 shares during the period. Hedge funds and other institutional investors own 79.48% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on UDMY shares. Truist Financial boosted their price target on shares of Udemy from $13.00 to $15.00 and gave the stock a “buy” rating in a research note on Monday, January 22nd. Jefferies Financial Group lowered their target price on shares of Udemy from $14.00 to $11.00 and set a “hold” rating for the company in a research note on Monday, April 29th. TheStreet cut Udemy from a “c-” rating to a “d+” rating in a research note on Wednesday, March 6th. Morgan Stanley decreased their price target on Udemy from $15.00 to $13.00 and set an “equal weight” rating for the company in a report on Friday, April 19th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $15.00 price objective on shares of Udemy in a report on Friday, May 3rd. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Udemy presently has a consensus rating of “Moderate Buy” and a consensus target price of $13.90.

Udemy Stock Performance

Udemy stock opened at $10.07 on Thursday. The company has a market capitalization of $1.54 billion, a P/E ratio of -19.00 and a beta of 2.12. Udemy, Inc. has a fifty-two week low of $8.46 and a fifty-two week high of $16.01. The stock has a 50-day simple moving average of $10.59 and a 200-day simple moving average of $12.33.

Udemy (NASDAQ:UDMY) last posted its quarterly earnings data on Wednesday, February 14th. The company reported ($0.12) earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.04. The business had revenue of $189.55 million during the quarter, compared to the consensus estimate of $185.71 million. Udemy had a negative return on equity of 22.29% and a negative net margin of 10.82%. As a group, analysts forecast that Udemy, Inc. will post -0.47 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Gregory Scott Brown sold 10,000 shares of the company’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $11.04, for a total value of $110,400.00. Following the completion of the sale, the chief executive officer now directly owns 1,163,328 shares of the company’s stock, valued at $12,843,141.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Udemy news, CTO Venu Venugopal sold 6,981 shares of the business’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $10.82, for a total value of $75,534.42. Following the transaction, the chief technology officer now directly owns 334,319 shares of the company’s stock, valued at approximately $3,617,331.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Gregory Scott Brown sold 10,000 shares of the company’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $11.04, for a total transaction of $110,400.00. Following the transaction, the chief executive officer now owns 1,163,328 shares of the company’s stock, valued at approximately $12,843,141.12. The disclosure for this sale can be found here. In the last three months, insiders have sold 46,981 shares of company stock valued at $514,884. Insiders own 3.20% of the company’s stock.

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.