Insider Selling: Udemy, Inc. (NASDAQ:UDMY) CTO Sells 69,482 Shares of Stock

Udemy, Inc. (NASDAQ:UDMY) CTO Eren Bali sold 69,482 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $9.00, for a total value of $625,338.00. Following the transaction, the chief technology officer now owns 2,156,050 shares in the company, valued at $19,404,450. This represents a 3.12 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Udemy Price Performance

Shares of UDMY stock traded up $0.15 during trading hours on Wednesday, reaching $10.10. 2,518,045 shares of the company’s stock were exchanged, compared to its average volume of 1,034,451. The company’s 50 day moving average is $8.16 and its two-hundred day moving average is $8.03. The company has a market cap of $1.47 billion, a P/E ratio of -17.72 and a beta of 1.85. Udemy, Inc. has a 1 year low of $6.67 and a 1 year high of $11.65.

Udemy (NASDAQ:UDMY) last released its earnings results on Thursday, February 13th. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.10). Udemy had a negative net margin of 10.84% and a negative return on equity of 26.50%. The business had revenue of $199.94 million during the quarter, compared to analyst estimates of $194.70 million. As a group, analysts predict that Udemy, Inc. will post -0.22 EPS for the current fiscal year.

Institutional Trading of Udemy

Institutional investors have recently added to or reduced their stakes in the stock. Federated Hermes Inc. lifted its position in shares of Udemy by 1,985.5% during the 4th quarter. Federated Hermes Inc. now owns 1,372,593 shares of the company’s stock valued at $11,296,000 after acquiring an additional 1,306,778 shares during the period. Millennium Management LLC purchased a new position in Udemy in the 4th quarter valued at approximately $5,911,000. Arrowstreet Capital Limited Partnership acquired a new position in Udemy during the fourth quarter worth $4,119,000. Summit Trail Advisors LLC boosted its position in Udemy by 939.8% during the third quarter. Summit Trail Advisors LLC now owns 366,795 shares of the company’s stock worth $2,729,000 after purchasing an additional 331,521 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its holdings in Udemy by 97.3% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 628,510 shares of the company’s stock valued at $5,173,000 after purchasing an additional 310,003 shares during the last quarter. Hedge funds and other institutional investors own 79.48% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Canaccord Genuity Group increased their price objective on Udemy from $12.00 to $14.00 and gave the company a “buy” rating in a report on Friday, February 14th. Cantor Fitzgerald lowered their price objective on shares of Udemy from $18.00 to $11.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th. Needham & Company LLC reaffirmed a “buy” rating and issued a $11.00 target price on shares of Udemy in a report on Friday, February 14th. Finally, Scotiabank started coverage on Udemy in a report on Thursday, December 5th. They set a “sector outperform” rating and a $10.00 price target on the stock. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Udemy has a consensus rating of “Moderate Buy” and a consensus price target of $10.82.

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.