24,464 Shares in Udemy, Inc. (NASDAQ:UDMY) Purchased by Cornercap Investment Counsel Inc.

Cornercap Investment Counsel Inc. bought a new stake in shares of Udemy, Inc. (NASDAQ:UDMY) in the fourth quarter, Holdings Channel.com reports. The firm bought 24,464 shares of the company’s stock, valued at approximately $201,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Victory Capital Management Inc. acquired a new position in Udemy during the 3rd quarter worth $75,000. Intech Investment Management LLC bought a new stake in shares of Udemy during the third quarter valued at about $161,000. Charles Schwab Investment Management Inc. lifted its holdings in Udemy by 3.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 761,920 shares of the company’s stock worth $5,669,000 after purchasing an additional 27,959 shares during the period. FMR LLC grew its position in 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 buying an additional 36,380 shares in the last quarter. Finally, Verition Fund Management LLC acquired a new position in Udemy during the 3rd quarter valued at about $1,630,000. Institutional investors own 79.48% of the company’s stock.

Udemy Price Performance

Udemy stock opened at $8.02 on Monday. Udemy, Inc. has a fifty-two week low of $6.67 and a fifty-two week high of $11.60. The firm’s 50 day simple moving average is $8.56 and its 200-day simple moving average is $8.27. The company has a market cap of $1.18 billion, a P/E ratio of -14.07 and a beta of 1.76.

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

Insider Buying and Selling

In other news, major shareholder Ltd Naspers sold 3,200,000 shares of the business’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $7.84, for a total transaction of $25,088,000.00. Following the transaction, the insider now directly owns 13,920,840 shares in the company, valued at $109,139,385.60. The trade was a 18.69 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Gregory Scott Brown sold 10,000 shares of the stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $9.43, for a total value of $94,300.00. Following the sale, the chief executive officer now owns 1,141,896 shares of the company’s stock, valued at approximately $10,768,079.28. This represents a 0.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,304,322 shares of company stock valued at $26,033,418. Corporate insiders own 3.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. William Blair lowered shares of Udemy from an “outperform” rating to a “market perform” rating in a research note on Wednesday, March 12th. Canaccord Genuity Group increased their price target on Udemy from $12.00 to $14.00 and gave the company a “buy” rating in a research note on Friday, February 14th. Morgan Stanley boosted their price objective on Udemy from $7.50 to $9.00 and gave the stock an “underweight” rating in a research note on Thursday, February 20th. Needham & Company LLC reaffirmed a “buy” rating and set a $11.00 target price on shares of Udemy in a research note on Wednesday, March 12th. Finally, Scotiabank assumed coverage on shares of Udemy in a research report on Thursday, December 5th. They issued a “sector outperform” rating and a $10.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $10.95.

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.