Cresset Asset Management LLC Decreases Stake in Udemy, Inc. $UDMY

Cresset Asset Management LLC lessened its holdings in Udemy, Inc. (NASDAQ:UDMY) by 15.1% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 926,652 shares of the company’s stock after selling 165,133 shares during the period. Cresset Asset Management LLC’s holdings in Udemy were worth $6,496,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. State of Alaska Department of Revenue bought a new stake in Udemy during the third quarter worth $56,000. Osaic Holdings Inc. bought a new position in Udemy in the 2nd quarter valued at $56,000. Prudential Financial Inc. purchased a new stake in shares of Udemy during the 2nd quarter valued at $79,000. R Squared Ltd bought a new stake in shares of Udemy during the 3rd quarter worth $84,000. Finally, Tower Research Capital LLC TRC raised its stake in shares of Udemy by 339.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 13,292 shares of the company’s stock worth $93,000 after purchasing an additional 10,267 shares during the period. 79.48% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

UDMY has been the subject of a number of research analyst reports. Wall Street Zen upgraded shares of Udemy from a “buy” rating to a “strong-buy” rating in a report on Sunday, December 7th. Canaccord Genuity Group set a $5.00 target price on shares of Udemy in a research report on Monday, February 9th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Udemy in a report on Wednesday, January 21st. Zacks Research downgraded Udemy from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 28th. Finally, KeyCorp lowered Udemy from an “overweight” rating to a “sector weight” rating in a report on Tuesday, January 13th. Three investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $8.75.

Insiders Place Their Bets

In other news, CFO Sarah Blanchard sold 25,000 shares of the company’s stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $5.25, for a total transaction of $131,250.00. Following the sale, the chief financial officer directly owned 1,208,046 shares in the company, valued at $6,342,241.50. This represents a 2.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 2.10% of the stock is owned by insiders.

Udemy Price Performance

Shares of UDMY stock opened at $4.87 on Friday. The stock has a market capitalization of $708.20 million, a price-to-earnings ratio of 243.62 and a beta of 1.70. The company’s fifty day simple moving average is $5.11 and its two-hundred day simple moving average is $5.83. Udemy, Inc. has a 1 year low of $4.35 and a 1 year high of $9.65.

Udemy (NASDAQ:UDMY) last announced its quarterly earnings results on Thursday, February 5th. The company reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.02. Udemy had a return on equity of 4.84% and a net margin of 0.48%.The company had revenue of $193.99 million during the quarter, compared to analysts’ expectations of $193.40 million. During the same period in the previous year, the business earned $0.10 earnings per share. The firm’s quarterly revenue was down 3.0% compared to the same quarter last year. Equities research analysts anticipate that Udemy, Inc. will post -0.09 EPS for the current year.

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.