Udemy, Inc. (NASDAQ:UDMY) CEO Gregory Scott Brown Sells 10,000 Shares

Udemy, Inc. (NASDAQ:UDMY) CEO Gregory Scott Brown sold 10,000 shares of the business’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $8.50, for a total value of $85,000.00. Following the sale, the chief executive officer now owns 1,203,727 shares in the company, valued at approximately $10,231,679.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Udemy Stock Performance

Udemy stock opened at $7.84 on Friday. The business has a 50 day simple moving average of $7.96 and a 200-day simple moving average of $8.51. Udemy, Inc. has a 12 month low of $6.67 and a 12 month high of $16.01.

Udemy (NASDAQ:UDMY) last issued its quarterly earnings results on Wednesday, July 31st. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.07). The company had revenue of $194.36 million during the quarter, compared to analysts’ expectations of $194.17 million. Udemy had a negative return on equity of 26.79% and a negative net margin of 12.33%. As a group, research analysts anticipate that Udemy, Inc. will post -0.52 EPS for the current fiscal year.

Institutional Trading of Udemy

Institutional investors have recently modified their holdings of the stock. Ariadne Wealth Management LP acquired a new position in shares of Udemy during the 2nd quarter worth about $67,000. Quest Partners LLC increased its stake in Udemy by 6,957.5% during the 2nd quarter. Quest Partners LLC now owns 8,963 shares of the company’s stock worth $77,000 after buying an additional 8,836 shares in the last quarter. XTX Topco Ltd acquired a new position in shares of Udemy during the second quarter valued at approximately $93,000. Natixis lifted its position in shares of Udemy by 60.8% in the first quarter. Natixis now owns 8,967 shares of the company’s stock valued at $99,000 after acquiring an additional 3,391 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its stake in shares of Udemy by 18.8% in the first quarter. Principal Financial Group Inc. now owns 12,053 shares of the company’s stock worth $132,000 after acquiring an additional 1,904 shares during the last quarter. Institutional investors and hedge funds own 79.48% of the company’s stock.

Analysts Set New Price Targets

UDMY has been the subject of a number of research reports. Truist Financial decreased their target price on Udemy from $15.00 to $10.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Canaccord Genuity Group started coverage on shares of Udemy in a research note on Thursday, August 8th. They set a “buy” rating and a $12.00 price objective for the company. Robert W. Baird cut their price objective on shares of Udemy from $13.00 to $11.00 and set an “outperform” rating on the stock in a research note on Thursday, August 1st. Morgan Stanley cut shares of Udemy from an “equal weight” rating to an “underweight” rating and reduced their target price for the stock from $10.00 to $7.50 in a report on Friday, September 27th. Finally, Canaccord Genuity Group started coverage on shares of Udemy in a report on Thursday, August 8th. They issued a “buy” rating and a $12.00 price target on the stock. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $11.00.

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.