Eren Bali Sells 35,518 Shares of Udemy, Inc. (NASDAQ:UDMY) Stock

Udemy, Inc. (NASDAQ:UDMY) CTO Eren Bali sold 35,518 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $9.00, for a total value of $319,662.00. Following the completion of the sale, the chief technology officer now directly owns 2,225,532 shares in the company, valued at approximately $20,029,788. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Udemy Price Performance

Shares of UDMY stock opened at $8.89 on Friday. The firm has a market cap of $1.30 billion, a P/E ratio of -14.11 and a beta of 1.95. The firm has a fifty day moving average of $7.98 and a two-hundred day moving average of $8.45. Udemy, Inc. has a 1-year low of $6.67 and a 1-year high of $16.01.

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

Institutional Investors Weigh In On Udemy

Institutional investors have recently modified their holdings of the business. Swiss National Bank raised its position in shares of Udemy by 2.2% during the 1st quarter. Swiss National Bank now owns 136,200 shares of the company’s stock worth $1,495,000 after purchasing an additional 2,900 shares during the period. Russell Investments Group Ltd. acquired a new position in Udemy during the 1st quarter valued at about $350,000. ProShare Advisors LLC grew its position in Udemy by 10.7% in the 1st quarter. ProShare Advisors LLC now owns 16,109 shares of the company’s stock worth $177,000 after purchasing an additional 1,553 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Udemy by 1.2% in the first quarter. Vanguard Group Inc. now owns 9,472,216 shares of the company’s stock valued at $104,005,000 after purchasing an additional 116,346 shares during the period. Finally, Natixis boosted its position in shares of Udemy by 60.8% during the first quarter. Natixis now owns 8,967 shares of the company’s stock worth $99,000 after buying an additional 3,391 shares during the period. Institutional investors own 79.48% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Cantor Fitzgerald lowered their target price 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. Truist Financial cut their price target on shares of Udemy from $15.00 to $10.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. KeyCorp decreased their price objective on shares of Udemy from $14.00 to $13.00 and set an “overweight” rating for the company in a research note on Monday, July 22nd. Needham & Company LLC cut their target price on shares of Udemy from $15.00 to $11.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. Finally, Canaccord Genuity Group started coverage on shares of Udemy in a report on Thursday, August 8th. They set a “buy” rating and a $12.00 target price on the stock. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $11.00.

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.