Trexquant Investment LP Cuts Holdings in Udemy, Inc. (NASDAQ:UDMY)

Trexquant Investment LP lessened its stake in Udemy, Inc. (NASDAQ:UDMY) by 55.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 170,770 shares of the company’s stock after selling 214,649 shares during the period. Trexquant Investment LP owned approximately 0.12% of Udemy worth $1,405,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Geode Capital Management LLC boosted its stake in shares of Udemy by 0.3% in the 3rd quarter. Geode Capital Management LLC now owns 2,216,868 shares of the company’s stock valued at $16,497,000 after purchasing an additional 5,972 shares in the last quarter. State Street Corp boosted its stake in shares of Udemy by 0.8% in the 3rd quarter. State Street Corp now owns 1,934,473 shares of the company’s stock valued at $14,392,000 after purchasing an additional 15,339 shares in the last quarter. FMR LLC boosted its stake in shares of Udemy by 2.8% in the 3rd quarter. FMR LLC now owns 1,330,073 shares of the company’s stock valued at $9,896,000 after purchasing an additional 36,380 shares in the last quarter. Royce & Associates LP boosted its stake in shares of Udemy by 18.6% in the 4th quarter. Royce & Associates LP now owns 1,119,359 shares of the company’s stock valued at $9,212,000 after purchasing an additional 175,300 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Udemy by 3.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 761,920 shares of the company’s stock valued at $5,669,000 after purchasing an additional 27,959 shares in the last quarter. Hedge funds and other institutional investors own 79.48% of the company’s stock.

Udemy Stock Up 17.6 %

NASDAQ UDMY opened at $6.80 on Thursday. The company has a fifty day moving average of $8.40 and a two-hundred day moving average of $8.18. The firm has a market capitalization of $1.00 billion, a price-to-earnings ratio of -11.93 and a beta of 1.81. Udemy, Inc. has a 52 week low of $5.68 and a 52 week high of $11.60.

Udemy (NASDAQ:UDMY) last issued its earnings results on Thursday, February 13th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.10). The company had revenue of $199.94 million for the quarter, compared to analysts’ expectations of $194.70 million. Udemy had a negative net margin of 10.84% and a negative return on equity of 27.93%. Equities research analysts anticipate that Udemy, Inc. will post -0.09 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms recently commented on UDMY. Canaccord Genuity Group upped their price target on shares of Udemy from $12.00 to $14.00 and gave the company a “buy” rating in a report on Friday, February 14th. Needham & Company LLC reiterated a “buy” rating and set a $11.00 price target on shares of Udemy in a report on Wednesday, March 12th. Truist Financial reiterated a “hold” rating and set a $7.00 price target (down from $10.00) on shares of Udemy in a report on Monday. William Blair lowered shares of Udemy from an “outperform” rating to a “market perform” rating in a report on Wednesday, March 12th. Finally, Morgan Stanley upped their price target on shares of Udemy from $7.50 to $9.00 and gave the company an “underweight” rating in a report on Thursday, February 20th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $10.68.

Insider Activity

In related news, major shareholder Ltd Naspers sold 3,200,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $7.84, for a total value of $25,088,000.00. Following the sale, the insider now owns 13,920,840 shares in the company, valued at $109,139,385.60. This represents a 18.69 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Eren Bali sold 69,482 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $9.00, for a total value of $625,338.00. Following the completion of the sale, the chief technology officer now owns 2,156,050 shares in the company, valued at approximately $19,404,450. This represents a 3.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,305,168 shares of company stock worth $26,040,186 over the last 90 days. 3.20% of the stock is currently owned by corporate insiders.

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.