Insider Selling: Udemy, Inc. (NASDAQ:UDMY) CTO Sells 10,000 Shares of Stock

Udemy, Inc. (NASDAQ:UDMY) CTO Eren Bali sold 10,000 shares of the stock in a transaction on Friday, March 14th. The stock was sold at an average price of $8.02, for a total transaction of $80,200.00. Following the sale, the chief technology officer now directly owns 2,146,050 shares in the company, valued at $17,211,321. This trade represents a 0.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Eren Bali also recently made the following trade(s):

• On Friday, February 14th, Eren Bali sold 69,482 shares of Udemy stock. The stock was sold at an average price of $9.00, for a total transaction of $625,338.00.

Udemy Stock Up 0.4 %

Shares of UDMY opened at $8.42 on Wednesday. The firm has a 50-day moving average price of $8.56 and a 200 day moving average price of $8.24. The firm has a market capitalization of $1.24 billion, a PE ratio of -14.77 and a beta of 1.76. Udemy, Inc. has a 52-week low of $6.67 and a 52-week high of $11.60.

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

Hedge Funds Weigh In On Udemy

Large investors have recently made changes to their positions in the business. Barclays PLC boosted its position in shares of Udemy by 360.6% during the 3rd quarter. Barclays PLC now owns 155,719 shares of the company’s stock valued at $1,158,000 after purchasing an additional 121,911 shares in the last quarter. Verition Fund Management LLC bought a new position in shares of Udemy during the 3rd quarter valued at about $1,630,000. SBI Securities Co. Ltd. bought a new position in shares of Udemy during the 4th quarter valued at about $31,000. Algert Global LLC boosted its position in shares of Udemy by 45.0% during the 3rd quarter. Algert Global LLC now owns 346,062 shares of the company’s stock valued at $2,575,000 after purchasing an additional 107,390 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of Udemy by 26.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 198,387 shares of the company’s stock valued at $1,476,000 after purchasing an additional 41,145 shares in the last quarter. Institutional investors own 79.48% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on UDMY shares. Scotiabank began coverage on shares of Udemy in a report on Thursday, December 5th. They set a “sector outperform” rating and a $10.00 target price on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $11.00 price objective on shares of Udemy in a report on Wednesday, March 12th. Morgan Stanley increased their price objective on shares of Udemy from $7.50 to $9.00 and gave the stock an “underweight” rating in a report on Thursday, February 20th. Canaccord Genuity Group increased their price objective on shares of Udemy from $12.00 to $14.00 and gave the stock a “buy” rating in a report on Friday, February 14th. Finally, William Blair cut shares of Udemy from an “outperform” rating to a “market perform” rating in a report on Wednesday, March 12th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $10.95.

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.