UBS Group AG Sells 464,615 Shares of Udemy, Inc. $UDMY

UBS Group AG cut its holdings in shares of Udemy, Inc. (NASDAQ:UDMY) by 26.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,321,756 shares of the company’s stock after selling 464,615 shares during the period. UBS Group AG’s holdings in Udemy were worth $7,732,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Westerly Capital Management LLC purchased a new stake in Udemy in the third quarter worth $15,878,000. JPMorgan Chase & Co. raised its holdings in Udemy by 455.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 703,957 shares of the company’s stock worth $4,949,000 after purchasing an additional 577,155 shares in the last quarter. Two Sigma Investments LP purchased a new stake in shares of Udemy in the 3rd quarter worth about $3,831,000. Cubist Systematic Strategies LLC lifted its position in shares of Udemy by 100.9% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 1,008,906 shares of the company’s stock worth $7,093,000 after purchasing an additional 506,678 shares during the period. Finally, Jacobs Levy Equity Management Inc. boosted its stake in shares of Udemy by 35.6% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,666,003 shares of the company’s stock valued at $11,679,000 after purchasing an additional 437,769 shares in the last quarter. Institutional investors own 79.48% of the company’s stock.

Insider Activity

In other news, CFO Sarah Blanchard sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $4.78, for a total value of $119,500.00. Following the transaction, the chief financial officer owned 1,455,763 shares in the company, valued at approximately $6,958,547.14. This represents a 1.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 3.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on UDMY shares. Canaccord Genuity Group set a $5.00 price target on shares of Udemy in a research report on Monday, February 9th. Weiss Ratings lowered shares of Udemy from a “sell (d)” rating to a “sell (e+)” rating in a report on Monday, May 11th. Two equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $8.80.

Udemy Stock Performance

Shares of UDMY stock opened at $4.63 on Tuesday. Udemy, Inc. has a one year low of $4.02 and a one year high of $8.09. The company’s 50-day moving average is $4.72 and its 200 day moving average is $5.05. The company has a market capitalization of $675.68 million, a price-to-earnings ratio of 231.62 and a beta of 1.59.

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.