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 Udemy stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $8.71, for a total value of $87,100.00. Following the transaction, the chief executive officer now owns 1,183,086 shares of the company’s stock, valued at $10,304,679.06. This trade represents a 0.84 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Gregory Scott Brown also recently made the following trade(s):

• On Tuesday, October 29th, Gregory Scott Brown sold 10,000 shares of Udemy stock. The stock was sold at an average price of $8.50, for a total value of $85,000.00.

Udemy Price Performance

NASDAQ UDMY traded down $0.08 on Monday, hitting $8.32. 633,911 shares of the stock traded hands, compared to its average volume of 889,557. The business’s fifty day moving average is $8.03 and its two-hundred day moving average is $8.16. Udemy, Inc. has a 12 month low of $6.67 and a 12 month high of $16.01.

Udemy (NASDAQ:UDMY) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.06. Udemy had a negative return on equity of 29.36% and a negative net margin of 12.33%. The company had revenue of $195.42 million during the quarter, compared to the consensus estimate of $192.69 million. During the same quarter in the prior year, the company earned ($0.10) EPS. The firm’s quarterly revenue was up 5.8% compared to the same quarter last year. Analysts anticipate that Udemy, Inc. will post -0.47 earnings per share for the current year.

Institutional Trading of Udemy

Several hedge funds and other institutional investors have recently modified their holdings of UDMY. Sea Cliff Partners Management LP boosted its holdings in Udemy by 27.9% in the 2nd quarter. Sea Cliff Partners Management LP now owns 3,725,865 shares of the company’s stock worth $32,154,000 after buying an additional 811,702 shares during the period. Verition Fund Management LLC bought a new stake in Udemy during the 3rd quarter valued at $1,630,000. Algert Global LLC lifted its position in shares of Udemy by 45.0% during the third quarter. Algert Global LLC now owns 346,062 shares of the company’s stock worth $2,575,000 after acquiring an additional 107,390 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Udemy by 106.5% in the third quarter. Assenagon Asset Management S.A. now owns 242,791 shares of the company’s stock worth $1,806,000 after acquiring an additional 125,235 shares during the period. Finally, Intech Investment Management LLC purchased a new position in shares of Udemy in the third quarter valued at $161,000. Institutional investors own 79.48% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Morgan Stanley downgraded Udemy from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $10.00 to $7.50 in a report on Friday, September 27th. Cantor Fitzgerald reduced their target price on shares of Udemy from $18.00 to $11.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. Needham & Company LLC dropped their price target on shares of Udemy from $15.00 to $11.00 and set a “buy” rating on the stock in a research report on Wednesday, October 30th. Finally, Scotiabank began coverage on shares of Udemy in a research report on Thursday. They issued a “sector outperform” rating and a $10.00 price objective for the company. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat, Udemy presently has a consensus rating of “Moderate Buy” and an average price target of $10.92.

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.