Traders Buy High Volume of Put Options on Udemy (NASDAQ:UDMY)

Udemy, Inc. (NASDAQ:UDMY) saw some unusual options trading on Friday. Traders purchased 9,506 put options on the stock. This represents an increase of approximately 1,336% compared to the typical daily volume of 662 put options.

Udemy Stock Performance

Shares of UDMY opened at $7.38 on Friday. The business’s 50-day moving average is $7.84 and its two-hundred day moving average is $8.86. The company has a market capitalization of $1.11 billion, a P/E ratio of -13.92 and a beta of 1.97. Udemy has a fifty-two week low of $6.67 and a fifty-two week high of $16.01.

Udemy (NASDAQ:UDMY) last posted its 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 for the quarter, compared to analyst estimates of $194.17 million. Udemy had a negative return on equity of 26.62% and a negative net margin of 11.39%. Analysts forecast that Udemy will post -0.52 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on UDMY shares. Canaccord Genuity Group assumed coverage on Udemy in a research report on Thursday, August 8th. They set a “buy” rating and a $12.00 target price on the stock. Robert W. Baird lowered their target price on shares of Udemy from $13.00 to $11.00 and set an “outperform” rating for the company in a research note on Thursday, August 1st. Canaccord Genuity Group began coverage on shares of Udemy in a research note on Thursday, August 8th. They set a “buy” rating and a $12.00 price target on the stock. Morgan Stanley cut shares of Udemy from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $10.00 to $7.50 in a report on Friday, September 27th. Finally, KeyCorp dropped their price objective on shares of Udemy from $14.00 to $13.00 and set an “overweight” rating on the stock in a report on Monday, July 22nd. One analyst has rated the stock with a sell rating, four have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $11.92.

Insider Buying and Selling at Udemy

In other news, Director Eren Bali sold 15,000 shares of the firm’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $9.10, for a total value of $136,500.00. Following the sale, the director now directly owns 1,639,477 shares in the company, valued at approximately $14,919,240.70. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Udemy news, CFO Sarah Blanchard sold 45,000 shares of Udemy stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $8.05, for a total value of $362,250.00. Following the transaction, the chief financial officer now directly owns 1,001,761 shares of the company’s stock, valued at approximately $8,064,176.05. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Eren Bali sold 15,000 shares of the stock in a transaction on Friday, July 26th. The shares were sold at an average price of $9.10, for a total value of $136,500.00. Following the sale, the director now owns 1,639,477 shares of the company’s stock, valued at approximately $14,919,240.70. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 61,000 shares of company stock worth $505,830 over the last quarter. Insiders own 3.20% of the company’s stock.

Hedge Funds Weigh In On Udemy

Several institutional investors have recently made changes to their positions in UDMY. Ariadne Wealth Management LP purchased a new stake in Udemy during the second quarter worth $67,000. Quest Partners LLC grew its position in shares of Udemy by 6,957.5% during the 2nd quarter. Quest Partners LLC now owns 8,963 shares of the company’s stock valued at $77,000 after acquiring an additional 8,836 shares during the period. XTX Topco Ltd purchased a new position in shares of Udemy in the 2nd quarter valued at about $93,000. Natixis raised its holdings in Udemy by 60.8% in the 1st quarter. Natixis now owns 8,967 shares of the company’s stock worth $99,000 after purchasing an additional 3,391 shares during the period. Finally, Principal Financial Group Inc. boosted its position in Udemy by 18.8% during the first quarter. Principal Financial Group Inc. now owns 12,053 shares of the company’s stock worth $132,000 after purchasing an additional 1,904 shares in the last quarter. 79.48% of the stock is owned by hedge funds and other institutional investors.

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.