Udemy, Inc. (NASDAQ:UDMY) CEO Gregory Scott Brown Sells 10,000 Shares

Udemy, Inc. (NASDAQ:UDMY) CEO Gregory Scott Brown sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $9.43, for a total transaction of $94,300.00. Following the completion of the transaction, the chief executive officer now owns 1,141,896 shares of the company’s stock, valued at approximately $10,768,079.28. This trade represents a 0.87 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Udemy Stock Performance

NASDAQ:UDMY opened at $9.17 on Friday. The company has a market capitalization of $1.35 billion, a PE ratio of -16.09 and a beta of 1.76. The company has a 50 day simple moving average of $8.54 and a two-hundred day simple moving average of $8.22. Udemy, Inc. has a fifty-two week low of $6.67 and a fifty-two week high of $11.65.

Udemy (NASDAQ:UDMY) last announced its quarterly earnings data on Thursday, February 13th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.07 by ($0.10). The company had revenue of $199.94 million for the quarter, compared to analyst estimates of $194.70 million. Udemy had a negative return on equity of 27.93% and a negative net margin of 10.84%. Research analysts predict that Udemy, Inc. will post -0.09 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Scotiabank assumed coverage on shares of Udemy in a report on Thursday, December 5th. They issued a “sector outperform” rating and a $10.00 price objective for the company. Canaccord Genuity Group raised their price objective on shares of Udemy from $12.00 to $14.00 and gave the company a “buy” rating in a report on Friday, February 14th. Needham & Company LLC reiterated a “buy” rating and issued a $11.00 price objective on shares of Udemy in a report on Friday, February 14th. Finally, Morgan Stanley raised their price objective on shares of Udemy from $7.50 to $9.00 and gave the company an “underweight” rating in a report on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $10.95.

Institutional Trading of Udemy

Several large investors have recently modified their holdings of UDMY. Harbor Capital Advisors Inc. grew its position in shares of Udemy by 28.9% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 20,433 shares of the company’s stock worth $152,000 after buying an additional 4,581 shares during the period. Entropy Technologies LP acquired a new stake in shares of Udemy during the 3rd quarter worth approximately $178,000. Victory Capital Management Inc. acquired a new stake in shares of Udemy during the 3rd quarter worth approximately $75,000. Royce & Associates LP grew its position in shares of Udemy by 1.1% during the 3rd quarter. Royce & Associates LP now owns 944,059 shares of the company’s stock worth $7,024,000 after buying an additional 10,650 shares during the period. Finally, Intech Investment Management LLC acquired a new stake in shares of Udemy during the 3rd quarter worth approximately $161,000. Institutional investors and hedge funds own 79.48% of the company’s stock.

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.