JPMorgan Chase & Co. Increases Stock Holdings in Udemy, Inc. $UDMY

JPMorgan Chase & Co. boosted its stake in Udemy, Inc. (NASDAQ:UDMY) by 57.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,108,057 shares of the company’s stock after acquiring an additional 404,100 shares during the period. JPMorgan Chase & Co.’s holdings in Udemy were worth $7,767,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. CIBC Bancorp USA Inc. bought a new stake in shares of Udemy during the 3rd quarter valued at about $73,000. Inflection Point Investments LLP raised its stake in Udemy by 15.5% in the third quarter. Inflection Point Investments LLP now owns 603,897 shares of the company’s stock worth $4,233,000 after buying an additional 81,000 shares in the last quarter. Danske Bank A S purchased a new stake in Udemy in the third quarter worth about $584,000. Jacobs Levy Equity Management Inc. lifted its holdings in Udemy by 35.6% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,666,003 shares of the company’s stock worth $11,679,000 after buying an additional 437,769 shares during the period. Finally, XTX Topco Ltd boosted its position in Udemy by 943.7% during the 3rd quarter. XTX Topco Ltd now owns 112,010 shares of the company’s stock valued at $785,000 after acquiring an additional 101,278 shares in the last quarter. 79.48% of the stock is currently owned by institutional investors.

Udemy Price Performance

Shares of NASDAQ:UDMY opened at $4.56 on Tuesday. The business has a fifty day moving average price of $4.81 and a 200-day moving average price of $5.55. The company has a market capitalization of $664.94 million, a PE ratio of 228.11 and a beta of 1.70. Udemy, Inc. has a 1-year low of $4.35 and a 1-year high of $8.31.

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

Insider Activity at Udemy

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

Analysts Set New Price Targets

UDMY has been the topic of a number of research analyst reports. Canaccord Genuity Group set a $5.00 target price on Udemy in a report on Monday, February 9th. KeyCorp lowered shares of Udemy from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, January 13th. Wall Street Zen raised shares of Udemy from a “buy” rating to a “strong-buy” rating in a research report on Sunday, December 7th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Udemy in a research note on Wednesday, January 21st. Three research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $8.75.

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.