RIA Advisory Group LLC Takes $76,000 Position in Udemy, Inc. (NASDAQ:UDMY)

RIA Advisory Group LLC acquired a new stake in shares of Udemy, Inc. (NASDAQ:UDMY) in the fourth quarter, Holdings Channel.com reports. The firm acquired 5,188 shares of the company’s stock, valued at approximately $76,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Venturi Wealth Management LLC bought a new stake in Udemy in the third quarter valued at about $29,000. Lazard Asset Management LLC bought a new stake in Udemy in the first quarter valued at about $46,000. Tower Research Capital LLC TRC grew its stake in Udemy by 58.8% during the second quarter. Tower Research Capital LLC TRC now owns 4,545 shares of the company’s stock worth $49,000 after buying an additional 1,683 shares during the last quarter. Quantbot Technologies LP bought a new stake in Udemy during the second quarter worth about $58,000. Finally, Daiwa Securities Group Inc. grew its stake in Udemy by 261.1% during the fourth quarter. Daiwa Securities Group Inc. now owns 4,730 shares of the company’s stock worth $70,000 after buying an additional 3,420 shares during the last quarter. Institutional investors own 79.48% of the company’s stock.

Udemy Trading Down 0.9 %

Shares of UDMY stock opened at $9.92 on Friday. Udemy, Inc. has a 1 year low of $8.17 and a 1 year high of $16.01. The firm’s 50 day moving average is $11.08 and its 200-day moving average is $12.26. The firm has a market capitalization of $1.52 billion, a price-to-earnings ratio of -13.78 and a beta of 2.14.

Udemy (NASDAQ:UDMY) last announced 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. Udemy had a negative net margin of 14.72% and a negative return on equity of 27.31%. The business had revenue of $189.55 million for the quarter, compared to analyst estimates of $185.71 million. On average, equities research analysts forecast that Udemy, Inc. will post -0.47 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $15.00 price objective on shares of Udemy in a research note on Thursday, April 4th. Robert W. Baird upped their price objective on shares of Udemy from $15.00 to $17.00 and gave the stock an “outperform” rating in a research note on Thursday, February 15th. Morgan Stanley decreased their price objective on shares of Udemy from $15.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Friday. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $20.00 price objective on shares of Udemy in a research note on Thursday, February 15th. Finally, KeyCorp upped their price objective on shares of Udemy from $13.00 to $15.00 and gave the stock an “overweight” rating in a research note on Friday, January 12th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $14.78.

Insider Activity at Udemy

In related news, CEO Gregory Scott Brown sold 10,000 shares of the stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $11.04, for a total value of $110,400.00. Following the transaction, the chief executive officer now directly owns 1,163,328 shares in the company, valued at $12,843,141.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Udemy news, CEO Gregory Scott Brown sold 10,000 shares of the stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $11.04, for a total value of $110,400.00. Following the sale, the chief executive officer now directly owns 1,163,328 shares in the company, valued at $12,843,141.12. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CTO Venu Venugopal sold 6,981 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $10.82, for a total transaction of $75,534.42. Following the completion of the sale, the chief technology officer now owns 334,319 shares in the company, valued at $3,617,331.58. The disclosure for this sale can be found here. Insiders have sold 50,981 shares of company stock worth $570,044 over the last ninety days. Company insiders own 6.20% of the company’s stock.

About Udemy

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.