Udemy, Inc. (NASDAQ:UDMY) CTO Sells $319,662.00 in Stock

Udemy, Inc. (NASDAQ:UDMY) CTO Eren Bali sold 35,518 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $9.00, for a total value of $319,662.00. Following the completion of the transaction, the chief technology officer now owns 2,225,532 shares in the company, valued at $20,029,788. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Udemy Trading Up 1.8 %

UDMY traded up $0.16 during midday trading on Thursday, reaching $8.89. The company’s stock had a trading volume of 589,359 shares, compared to its average volume of 905,793. Udemy, Inc. has a twelve month low of $6.67 and a twelve month high of $16.01. The stock has a market cap of $1.30 billion, a P/E ratio of -13.86 and a beta of 1.95. The company has a fifty day simple moving average of $7.97 and a 200 day simple moving average of $8.45.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. ProShare Advisors LLC raised its stake in shares of Udemy by 10.7% in the first quarter. ProShare Advisors LLC now owns 16,109 shares of the company’s stock valued at $177,000 after purchasing an additional 1,553 shares in the last quarter. Swiss National Bank raised its stake in shares of Udemy by 2.2% in the 1st quarter. Swiss National Bank now owns 136,200 shares of the company’s stock valued at $1,495,000 after buying an additional 2,900 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Udemy by 6.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 51,780 shares of the company’s stock worth $447,000 after acquiring an additional 3,336 shares during the period. Natixis boosted its position in shares of Udemy by 60.8% during the 1st quarter. Natixis now owns 8,967 shares of the company’s stock valued at $99,000 after acquiring an additional 3,391 shares in the last quarter. Finally, Harbor Capital Advisors Inc. increased its stake in Udemy by 28.9% in the third quarter. Harbor Capital Advisors Inc. now owns 20,433 shares of the company’s stock valued at $152,000 after acquiring an additional 4,581 shares during the period. Institutional investors own 79.48% of the company’s stock.

Analyst Upgrades and Downgrades

UDMY has been the subject of several recent research reports. KeyCorp lowered their price target on Udemy from $14.00 to $13.00 and set an “overweight” rating for the company in a research note on Monday, July 22nd. Truist Financial cut their price target on shares of Udemy from $15.00 to $10.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. Needham & Company LLC lowered their target price 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. Canaccord Genuity Group began coverage on Udemy in a research report on Thursday, August 8th. They issued a “buy” rating and a $12.00 price target for the company. Finally, Robert W. Baird lowered their price objective on Udemy from $13.00 to $11.00 and set an “outperform” rating on the stock in a report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $11.00.

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.