Udemy, Inc. (NASDAQ:UDMY) CTO Sells $319,662.00 in Stock

Udemy, Inc. (NASDAQ:UDMY) CTO Eren Bali sold 35,518 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $9.00, for a total value of $319,662.00. Following the sale, the chief technology officer now owns 2,225,532 shares of the company’s stock, valued at approximately $20,029,788. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Udemy Stock Performance

Shares of NASDAQ:UDMY traded up $0.16 during midday trading on Thursday, reaching $8.89. The company had a trading volume of 589,359 shares, compared to its average volume of 905,793. The company has a fifty day simple moving average of $7.97 and a two-hundred day simple moving average of $8.45. The firm has a market cap of $1.30 billion, a price-to-earnings ratio of -13.86 and a beta of 1.95. Udemy, Inc. has a 1-year low of $6.67 and a 1-year high of $16.01.

Udemy (NASDAQ:UDMY) last released its earnings results on Tuesday, October 29th. The company reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.06. The business had revenue of $195.42 million for the quarter, compared to the consensus estimate of $192.69 million. Udemy had a negative net margin of 12.33% and a negative return on equity of 29.36%. The firm’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same period last year, the firm posted ($0.10) earnings per share. Analysts expect that Udemy, Inc. will post -0.47 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on UDMY. Truist Financial dropped their price target on shares of Udemy from $15.00 to $10.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. Canaccord Genuity Group started coverage on Udemy in a research note on Thursday, August 8th. They issued a “buy” rating and a $12.00 price target for the company. Cantor Fitzgerald cut their price objective on Udemy from $18.00 to $11.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. Robert W. Baird decreased their target price on Udemy from $13.00 to $11.00 and set an “outperform” rating for the company in a research report on Thursday, August 1st. Finally, KeyCorp reduced their price objective on Udemy from $14.00 to $13.00 and set an “overweight” rating on the stock in a research note on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $11.00.

Institutional Trading of Udemy

A number of hedge funds have recently modified their holdings of UDMY. Sea Cliff Partners Management LP grew its holdings in shares of Udemy by 27.9% during the second quarter. Sea Cliff Partners Management LP now owns 3,725,865 shares of the company’s stock valued at $32,154,000 after buying an additional 811,702 shares in the last quarter. Silvercrest Asset Management Group LLC acquired a new stake in Udemy during the 1st quarter worth about $8,109,000. Invenomic Capital Management LP grew its stake in Udemy by 22.9% during the 1st quarter. Invenomic Capital Management LP now owns 2,747,453 shares of the company’s stock valued at $30,167,000 after acquiring an additional 512,618 shares in the last quarter. Industry Ventures L.L.C. acquired a new position in shares of Udemy in the 2nd quarter valued at about $3,452,000. Finally, Jacobs Levy Equity Management Inc. grew its position in Udemy by 645.2% during the first quarter. Jacobs Levy Equity Management Inc. now owns 437,531 shares of the company’s stock valued at $4,804,000 after purchasing an additional 378,819 shares in the last quarter. Hedge funds and other institutional investors own 79.48% of the company’s stock.

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.