Cornercap Investment Counsel Inc. Invests $201,000 in Udemy, Inc. (NASDAQ:UDMY)

Cornercap Investment Counsel Inc. bought a new stake in Udemy, Inc. (NASDAQ:UDMY) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 24,464 shares of the company’s stock, valued at approximately $201,000.

Other large investors have also made changes to their positions in the company. SBI Securities Co. Ltd. purchased a new stake in Udemy in the 4th quarter worth approximately $31,000. Point72 DIFC Ltd purchased a new position in shares of Udemy during the 3rd quarter worth about $30,000. Nisa Investment Advisors LLC boosted its position in shares of Udemy by 496.7% in the fourth quarter. Nisa Investment Advisors LLC now owns 7,220 shares of the company’s stock worth $59,000 after acquiring an additional 6,010 shares during the last quarter. Victory Capital Management Inc. purchased a new stake in Udemy in the third quarter valued at approximately $75,000. Finally, Falcon Wealth Planning acquired a new position in Udemy during the fourth quarter worth approximately $85,000. Institutional investors and hedge funds own 79.48% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on UDMY shares. Canaccord Genuity Group boosted their price objective on shares of 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 shares of 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 reissued a “buy” rating and issued a $11.00 price objective on shares of Udemy in a research report on Wednesday, March 12th. Scotiabank began coverage on Udemy in a research report on Thursday, December 5th. They set a “sector outperform” rating and a $10.00 price target on the stock. Finally, William Blair cut Udemy from an “outperform” rating to a “market perform” rating in a report on Wednesday, March 12th. One analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $10.95.

Insiders Place Their Bets

In other news, CEO Gregory Scott Brown sold 10,000 shares of the firm’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $9.43, for a total value of $94,300.00. Following the transaction, the chief executive officer now directly owns 1,141,896 shares in the company, valued at approximately $10,768,079.28. This trade represents a 0.87 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Heather Hiles sold 14,840 shares of the business’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $9.81, for a total transaction of $145,580.40. Following the sale, the director now directly owns 42,667 shares of the company’s stock, valued at approximately $418,563.27. This represents a 25.81 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,304,322 shares of company stock valued at $26,033,418 in the last quarter. Insiders own 3.20% of the company’s stock.

Udemy Trading Down 3.0 %

Shares of NASDAQ:UDMY opened at $8.02 on Monday. The firm has a market cap of $1.18 billion, a PE ratio of -14.07 and a beta of 1.76. The company has a fifty day simple moving average of $8.56 and a 200 day simple moving average of $8.27. Udemy, Inc. has a 12-month low of $6.67 and a 12-month 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 during the quarter, compared to analyst estimates of $194.70 million. Udemy had a negative net margin of 10.84% and a negative return on equity of 27.93%. As a group, equities research analysts forecast that Udemy, Inc. will post -0.09 EPS for the current fiscal year.

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.