Udemy, Inc. (NASDAQ:UDMY) CEO Sells $85,000.00 in Stock

Udemy, Inc. (NASDAQ:UDMY) CEO Gregory Scott Brown sold 10,000 shares of Udemy stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $8.50, for a total transaction of $85,000.00. Following the transaction, the chief executive officer now directly owns 1,273,406 shares of the company’s stock, valued at $10,823,951. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Udemy Trading Up 0.9 %

Shares of UDMY traded up $0.08 on Tuesday, reaching $8.58. 641,408 shares of the company’s stock were exchanged, compared to its average volume of 918,193. The business has a 50 day moving average price of $9.17 and a two-hundred day moving average price of $11.24. Udemy, Inc. has a 12 month low of $7.91 and a 12 month high of $16.01.

Udemy (NASDAQ:UDMY) last posted its quarterly earnings results on Thursday, May 2nd. The company reported ($0.11) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.02. The business had revenue of $196.85 million during the quarter, compared to the consensus estimate of $194.83 million. Udemy had a negative net margin of 10.82% and a negative return on equity of 23.10%. On average, sell-side analysts anticipate that Udemy, Inc. will post -0.45 earnings per share for the current year.

Institutional Investors Weigh In On Udemy

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in 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 in the last quarter. Greenvale Capital LLP increased its stake in Udemy by 2.3% in the fourth quarter. Greenvale Capital LLP now owns 6,600,000 shares of the company’s stock valued at $97,218,000 after purchasing an additional 150,000 shares in the last quarter. Invenomic Capital Management LP increased its stake in Udemy by 22.9% in the first quarter. Invenomic Capital Management LP now owns 2,747,453 shares of the company’s stock valued at $30,167,000 after purchasing an additional 512,618 shares in the last quarter. Sea Cliff Partners Management LP bought a new stake in shares of Udemy during the fourth quarter worth $25,661,000. Finally, Inflection Point Investments LLP bought a new stake in shares of Udemy during the fourth quarter worth $21,390,000. Institutional investors own 79.48% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on UDMY. KeyCorp cut their price target on shares of Udemy from $15.00 to $14.00 and set an “overweight” rating for the company in a report on Friday, May 3rd. Needham & Company LLC restated a “buy” rating and issued a $15.00 price objective on shares of Udemy in a research report on Friday, May 3rd. Jefferies Financial Group lowered their price objective on shares of Udemy from $14.00 to $11.00 and set a “hold” rating for the company in a research report on Monday, April 29th. Cantor Fitzgerald restated an “overweight” rating and issued a $20.00 price objective on shares of Udemy in a research report on Friday, May 3rd. Finally, TheStreet cut shares of Udemy from a “c-” rating to a “d+” rating in a research report on Wednesday, March 6th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $13.90.

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.