ABC Arbitrage SA Acquires New Position in Udemy, Inc. $UDMY

ABC Arbitrage SA purchased a new stake in Udemy, Inc. (NASDAQ:UDMY) in the 4th quarter, Holdings Channel reports. The fund purchased 161,881 shares of the company’s stock, valued at approximately $947,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. grew its position in Udemy by 3.8% during the third quarter. Vanguard Group Inc. now owns 11,895,585 shares of the company’s stock worth $83,388,000 after buying an additional 436,984 shares during the period. Westerly Capital Management LLC purchased a new stake in shares of Udemy during the 3rd quarter worth approximately $15,878,000. UBS Group AG boosted its stake in shares of Udemy by 56.8% during the 3rd quarter. UBS Group AG now owns 1,786,371 shares of the company’s stock worth $12,522,000 after acquiring an additional 646,755 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its holdings in shares of Udemy by 35.6% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,666,003 shares of the company’s stock worth $11,679,000 after acquiring an additional 437,769 shares during the period. Finally, Federated Hermes Inc. grew its holdings in shares of Udemy by 1.1% in the 3rd quarter. Federated Hermes Inc. now owns 1,401,925 shares of the company’s stock worth $9,827,000 after acquiring an additional 15,657 shares during the period. Institutional investors and hedge funds own 79.48% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on UDMY shares. KeyCorp cut Udemy from an “overweight” rating to a “sector weight” rating in a report on Tuesday, January 13th. Canaccord Genuity Group set a $5.00 target price on Udemy in a report on Monday, February 9th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Udemy in a research report on Wednesday, January 21st. Two analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Udemy presently has a consensus rating of “Hold” and a consensus target price of $8.80.

Insider Activity at Udemy

In related news, CFO Sarah Blanchard sold 25,000 shares of Udemy stock in a transaction dated Friday, March 13th. The stock was sold at an average price of $4.78, for a total transaction of $119,500.00. Following the completion of the sale, the chief financial officer owned 1,455,763 shares in the company, valued at approximately $6,958,547.14. This trade represents a 1.69% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.20% of the stock is currently owned by insiders.

Udemy Stock Performance

Udemy stock opened at $4.63 on Tuesday. Udemy, Inc. has a fifty-two week low of $4.02 and a fifty-two week high of $8.09. The company has a market capitalization of $675.70 million, a price-to-earnings ratio of 231.62 and a beta of 1.59. The stock has a fifty day moving average of $4.76 and a two-hundred day moving average of $5.13.

About Udemy

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.