Ltd Naspers Sells 3,200,000 Shares of Udemy, Inc. (NASDAQ:UDMY) Stock

Udemy, Inc. (NASDAQ:UDMY) major shareholder Ltd Naspers sold 3,200,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $7.84, for a total transaction of $25,088,000.00. Following the sale, the insider now owns 13,920,840 shares in the company, valued at $109,139,385.60. The trade was a 18.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Udemy Stock Up 0.7 %

UDMY opened at $7.54 on Friday. Udemy, Inc. has a 52 week low of $6.67 and a 52 week high of $14.74. The business’s 50 day moving average is $8.14 and its two-hundred day moving average is $8.07. The firm has a market cap of $1.10 billion, a price-to-earnings ratio of -11.97 and a beta of 1.87.

Udemy (NASDAQ:UDMY) last announced its earnings results on Tuesday, October 29th. The company reported $0.07 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.06. Udemy had a negative net margin of 12.33% and a negative return on equity of 29.36%. The business had revenue of $195.42 million for the quarter, compared to analysts’ expectations of $192.69 million. During the same period in the previous year, the company posted ($0.10) EPS. The company’s quarterly revenue was up 5.8% on a year-over-year basis. Equities analysts expect that Udemy, Inc. will post -0.47 EPS for the current fiscal year.

Institutional Investors Weigh In On Udemy

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Point72 DIFC Ltd purchased a new position in shares of Udemy during the third quarter worth about $30,000. Nisa Investment Advisors LLC lifted its position in Udemy by 496.7% during the 4th 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 period. Ariadne Wealth Management LP purchased a new position in shares of Udemy in the 2nd quarter valued at approximately $67,000. Victory Capital Management Inc. acquired a new position in shares of Udemy in the third quarter valued at approximately $75,000. Finally, Falcon Wealth Planning purchased a new stake in shares of Udemy during the fourth quarter worth approximately $85,000. 79.48% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

UDMY has been the subject of several analyst reports. Cantor Fitzgerald lowered their price target on shares of Udemy from $18.00 to $11.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. Scotiabank assumed coverage on shares of Udemy in a research note on Thursday, December 5th. They set a “sector outperform” rating and a $10.00 target price for the company. Needham & Company LLC restated a “buy” rating and issued a $11.00 price target on shares of Udemy in a research note on Friday, January 17th. Finally, Morgan Stanley cut Udemy from an “equal weight” rating to an “underweight” rating and lowered their price objective for the stock from $10.00 to $7.50 in a research report on Friday, September 27th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $10.92.

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.