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

Udemy, Inc. (NASDAQ:UDMY) CEO Gregory Scott Brown sold 10,000 shares of the company’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $8.50, for a total transaction of $85,000.00. Following the sale, the chief executive officer now directly owns 1,203,727 shares of the company’s stock, valued at approximately $10,231,679.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Udemy Stock Down 4.0 %

Shares of NASDAQ UDMY opened at $7.84 on Friday. The stock has a fifty day simple moving average of $7.96 and a 200-day simple moving average of $8.51. Udemy, Inc. has a twelve month low of $6.67 and a twelve month high of $16.01.

Udemy (NASDAQ:UDMY) last issued its quarterly earnings results on Wednesday, July 31st. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.07). Udemy had a negative return on equity of 26.79% and a negative net margin of 12.33%. The business had revenue of $194.36 million for the quarter, compared to analyst estimates of $194.17 million. As a group, analysts anticipate that Udemy, Inc. will post -0.52 earnings per share for the current year.

Institutional Investors Weigh In On Udemy

Several large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew 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 worth $104,005,000 after acquiring an additional 116,346 shares in the last quarter. Sea Cliff Partners Management LP grew its stake in Udemy by 27.9% during the 2nd quarter. Sea Cliff Partners Management LP now owns 3,725,865 shares of the company’s stock worth $32,154,000 after purchasing an additional 811,702 shares in the last quarter. Invenomic Capital Management LP increased its holdings in Udemy by 22.9% during the 1st quarter. Invenomic Capital Management LP now owns 2,747,453 shares of the company’s stock worth $30,167,000 after purchasing an additional 512,618 shares during the period. Silvercrest Asset Management Group LLC acquired a new stake in Udemy in the 1st quarter valued at about $8,109,000. Finally, Jacobs Levy Equity Management Inc. boosted its stake in shares of Udemy by 645.2% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 437,531 shares of the company’s stock valued at $4,804,000 after buying an additional 378,819 shares during the period. 79.48% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

UDMY has been the subject of a number of analyst reports. KeyCorp dropped their price target on Udemy from $14.00 to $13.00 and set an “overweight” rating for the company in a research report on Monday, July 22nd. Canaccord Genuity Group started coverage on Udemy in a report on Thursday, August 8th. They issued a “buy” rating and a $12.00 target price for the company. Needham & Company LLC reduced their price target on Udemy from $15.00 to $11.00 and set a “buy” rating on the stock in a report on Wednesday. Canaccord Genuity Group began coverage on shares of Udemy in a report on Thursday, August 8th. They issued a “buy” rating and a $12.00 price objective for the company. Finally, Bank of America cut shares of Udemy from a “buy” rating to a “neutral” rating and set a $8.50 price objective for the company. in a research report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Udemy has a consensus rating of “Moderate Buy” and a consensus target price of $11.00.

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.